TAC Infosec Limited, a company specializing in risk and vulnerability management, has officially announced its upcoming initial public offering (IPO), marking a significant step as it aims to become the first publicly listed pure-play cybersecurity company in India. The IPO is scheduled to open on Wednesday, March 27, 2024, with the price band set at Rs. 100 to Rs. 106 per share. This move is poised to raise approximately Rs. 29.9 crore, signaling a robust expansion strategy both within India and internationally.
- IPO Opening Date:March 27, 2024
- Price Band: 100 – Rs. 106 per share
- Issue Size:28,29,600 Equity Shares at Rs. 10 face value
- Use of Proceeds:Investment in human resources, product development, and international expansion
- Book Running Lead Manager:Beeline Capital Advisors Private Limited
- Registrar:Skyline Financial Services Private Limited
Key Details of the IPO
The offering comprises 28,29,600 equity shares with a face value of Rs. 10 each, going through a book-building process. The shares are distributed across various quotas, including Market Maker, Non-Institutional Investors (NIIs), Qualified Institutional Buyers (QIBs), and Retail Investors, ensuring a broad base of participation.
TAC Security’s services encompass risk-based vulnerability management, cybersecurity quantification, and penetration testing, delivered through a Software as a Service (SaaS) model to a wide range of organizations globally. The company’s growth strategy includes significant investments in human resources and product development, with a particular focus on expanding its footprint in the United States through TAC Security INC., Delaware.
Industry Support and Leadership
The IPO has garnered support from notable industry figures, including Vijay Kedia, a renowned stock market expert. TAC Security’s founder, Trishneet Arora, has played a pivotal role in the company’s direction, leveraging his extensive experience in cybersecurity. Arora’s achievements have been recognized through various awards and lists, including Forbes “30 Under 30” Asia and Fortune India’s “40 Under 40.”
Expansion Plans and Vision
The funds raised from the IPO are earmarked for strategic initiatives aimed at bolstering TAC Security’s presence in the cybersecurity domain, both within India and on a global scale. These initiatives include enhancing human resources, advancing product development, and supporting organic growth through the recruitment of skilled personnel, especially in the United States.
This public offering represents a landmark event for TAC Security and the broader cybersecurity industry in India, signaling a new phase of growth and innovation.
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