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Investors Overwhelm TAC Infosec’s IPO with 393 Times Subscriptions on Last Day of Offering

TAC Infosec’s IPO Receives Massive 392.56 Times Subscriptions on Final Day

The public offering of TAC Infosec witnessed an incredible response from investors, garnering subscriptions 392.56 times over on its closing day, Tuesday. NSE data reported bids for 79,42,29,600 shares against the 20,23,200 equity shares offered. The Qualified Institutional Buyer (QIB) category saw a subscription of 37.54 times, while Non-Institutional Investors (NII) showed a robust 153.30 times subscription, and Retail Individual Investors (RII) a remarkable 201.71 times subscription.

The IPO’s price band was set at Rs 100-106 per share, with only a fresh issue of 28.29 lakh equity shares, each with a face value of Rs 10. The proceeds from this offering are earmarked for strategic investments in human resources and product development to foster organic growth in India. Additionally, funds will be allocated to TAC Security Inc (Delaware, USA) to recruit skilled personnel for sustained organic growth, with the remaining portion dedicated to general corporate purposes.

TAC Security, founded by Trishneet Arora and backed by stock market expert Vijay Kedia, specializes in risk-based vulnerability management, cybersecurity quantification, and penetration testing. Operating on the Software as a Service (SaaS) model, the company caters to organizations of various sizes and industries.

Beeline Capital Advisors Pvt Ltd serves as the sole book-running lead manager for the IPO, while SpreadX Securities is the registrar to the issue.

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