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Vijay Kedia-Backed Cybersecurity Saas Startup TAC Security Files DRHP With NSE Emerge

Inc42 · 1y ago

Vijay Kedia-Backed Cybersecurity Saas Startup TAC Security Files DRHP With NSE Emerge

Cybersecurity startup TAC Security has filed its draft red herring prospectus (DRHP) to list on the NSE Emerge. The company plans to use the funds raised from the IPO to acquire US-based TAC Security Inc, invest in human resources and product development, and for general corporate purposes. Founded by Trishneet Arora in 2016, TAC Security provides risk-based vulnerability management and assessment solutions through the SaaS model. The IPO will consist of a fresh issuance of 28,29,600 equity shares.

Related News

TAC Security IPO: Public Issue Oversubscribed 9.31X On Day 1

Inc42 · 1y ago

TAC Security IPO: Public Issue Oversubscribed 9.31X On Day 1

Indian SaaS cybersecurity startup TAC Infosec's IPO has been oversubscribed 9.31 times on its first day of trading. The company aims to raise around INR 29.9 crore ($4.1 million) through the IPO. The retail investor portion was oversubscribed 15.9 times, while the qualified institutional buyers' portion saw 2.6 times oversubscription. TAC Infosec provides SaaS-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services. The IPO will close on April 2 and is set to list on the NSE Emerge platform. Proceeds from the IPO will be used for product development, hiring, and global expansion.

Cybersecurity Startup TAC Security’s IPO To Open On March 27

Inc42 · 1y ago

Cybersecurity Startup TAC Security’s IPO To Open On March 27

TAC Infosec, a SaaS cybersecurity startup, is set to go public with its initial public offering (IPO) opening on March 27. The IPO will consist of a fresh issue of 28.29 lakh equity shares, priced between INR 100-106 per share. The startup aims to raise around INR 29.9 crore from the IPO. TAC Infosec plans to use the proceeds to invest in human resources, product development, and for expanding its US-based entity. The IPO will close on April 2 and be managed by Beeline Capital Advisors. Founder Trishneet Arora holds a 74% stake in the company, followed by Vijay Kedia with 15%.

TAC Infosec’s FY24 Profit Rises 23% To INR 6.3 Cr

Inc42 · 1y ago

TAC Infosec’s FY24 Profit Rises 23% To INR 6.3 Cr

TAC Infosec, recently listed on NSE Emerge, reported a 17% increase in operating revenue to INR 11.84 Cr in FY23. Its profit also rose to INR 4.4 Cr in H2 FY24 from INR 1.92 Cr in the first half. The company offers risk-based vulnerability management and assessment solutions, as well as other SaaS cybersecurity solutions to enterprises and small businesses.

TAC Infosec Jumps 5% After Two Strategic Acquisitions In US & UAE

Inc42 · 10m ago

TAC Infosec Jumps 5% After Two Strategic Acquisitions In US & UAE

TAC Infosec has acquired US-based cybersecurity firm CyberSandia for $25,000 to enhance its presence in the region and expand globally. Additionally, TAC Infosec has also acquired WOS, a subsidiary of TAC Cyber Security Consultancy LLC in the UAE, to meet the increasing demand for cybersecurity services in the GCC region. Trishneet Arora, the founder of TAC Infosec, established the company in 2016 and provides risk-based vulnerability management and assessment solutions along with other SaaS cybersecurity solutions to enterprises and small businesses.

Cybersecurity startup Treacle raises pre-seed round led by IPV

Entrackr

Entrackr · 1y ago

Cybersecurity startup Treacle raises pre-seed round led by IPV

Cybersecurity startup Treacle has raised Rs 4 crore in its pre-seed round led by Inflection Point Ventures (IPV). The proceeds will be used to enhance technical and business development, marketing and office expenses, partnerships, and expansion in the Indian market. Led by co-founders Subhasis Mukhopadhyay, Subhajit Manna, and Partha Das, Treacle’s AI-based deception technology provides advanced protection by analyzing attacker behaviour, diverting them into mirage networks, and issuing early warnings to SOC analysts. Additionally, the implementation of an AI-based early warning system enhances its capability to identify threats proactively to stay ahead of evolving cyber threats. Since its inception, Treacle has secured grants such as the C3iHub grant and the SISFS grant, totalling Rs 26 lakhs, in 2021 and 2022, respectively. Additionally, the startup represented India under DPIIT and participated in a sponsored delegation trip to Dubai in 2022. According to startup data intelligence platform TheKredible, cybersecurity startups raised around $75 million across seven deals in 2023. This is the third funding in this space in 2024 including Silence Laboratories and Vijay Kedia-backed TAC Security. Earlier this year, artificial intelligence-driven cybersecurity platform SentinelOne acquired PingSafe in a cash and stock deal.

TAC Infosec gets board approval to roll out new ESOP plan

Inshorts · 1y ago

TAC Infosec gets board approval to roll out new ESOP plan

SaaS cybersecurity startup TAC Infosec has secured approval from its board for the formulation, adoption and implementation of a new employee stock option plan (TAC ESOP 2024). However, the startup did not disclose the amount of stock options that will be granted under the scheme.

Fintech SaaS Solutions Provider Trust Fintech Files DRHP For NSE Emerge Listing

Inc42 · 1y ago

Fintech SaaS Solutions Provider Trust Fintech Files DRHP For NSE Emerge Listing

Trust Fintech Limited, a fintech SaaS solutions provider, has filed its Draft Red Herring Prospectus (DRHP) to raise funds through an IPO on the NSE Emerge platform. The Nagpur-based company offers core banking software solutions, fintech software, and offshore IT services for the BFSI sector. Trust Fintech plans to utilize the funds for establishing a development facility, upgrading infrastructure, product enhancement, business development, and general expenses. The company aims to expand its workforce and has already deployed its products in various countries. Its net profit in FY23 was INR 4 Cr, with revenue of INR 22.7 Cr.

TAC Security Secures INR 8.55 Cr From Anchor Investors Ahead Of IPO

Inc42 · 1y ago

TAC Security Secures INR 8.55 Cr From Anchor Investors Ahead Of IPO

Cybersecurity startup TAC Security, also known as TAC Infosec, has raised INR 8.55 crore through an anchor book issue ahead of its upcoming initial public offering (IPO). The IPO consists of a fresh issue of 28,29,600 equity shares and is expected to raise about INR 29.9 crore at the upper end of the price band. TAC Security plans to use the funds for human resources and product development, as well as expanding its US-based entity. The IPO is open for subscription from March 27 to April 2.

TAC Infosec IPO Oversubscribed 392X On Strong Demand

Inc42 · 1y ago

TAC Infosec IPO Oversubscribed 392X On Strong Demand

SaaS cybersecurity startup TAC Infosec's IPO received significant investor interest, closing with a subscription of 392.5X. Non-institutional investors led the pack, subscribing 769X, while retail individual investors subscribed 434X. Qualified institutional buyers subscribed 142X. The IPO received bids for 79.42 Cr shares against the 20.23 Lakh shares on offer, indicating bids worth $1 billion. TAC Infosec plans to raise INR 29.99 Cr from the IPO, with the proceeds allocated for hiring, product development, organic growth, and expanding the global footprint. The startup reported a net profit of INR 1.94 Cr in H1 FY24.

E-commerce SaaS platform Unicommerce files DRHP with SEBI

Entrackr

Entrackr · 1y ago

E-commerce SaaS platform Unicommerce files DRHP with SEBI

Unicommerce, a subsidiary of AceVector Group, has submitted a draft red herring prospectus (DRHP) to the Security Exchange Board of India (SEBI) for an initial public offering (IPO). The company plans to raise funds through an offer for sale (OFS) of up to 2,98,40,486 equity shares. The DRHP does not include fresh issues, and the proceeds will go to the selling shareholders. The book-running lead managers for the IPO are IIFL Securities Limited and CLSA India Private Limited. Unicommerce offers e-commerce enablement SaaS solutions and generated significant revenue and profits during FY23 and H1 of FY24.

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