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TAC Infosec IPO Day 2: Vijay Kedia Backed SaaS Startup’s Public Issue Oversubscribed 22.8X

Inc42 · 1y ago

TAC Infosec IPO Day 2: Vijay Kedia Backed SaaS Startup’s Public Issue Oversubscribed 22.8X

TAC Infosec's IPO was oversubscribed 22.82 times on the second day, driven by strong demand from retail investors. The public issue received bids for 4.61 crore shares against 20.23 lakh shares on offer. The retail individual investors quota was oversubscribed 41.4 times, while non-institutional investors oversubscribed their quota by 14.2 times. The company plans to raise INR 29.9 crore through the IPO, which will close on April 2. TAC Infosec offers cybersecurity solutions to businesses and small enterprises and reported a profit after tax of INR 1.94 crore in H1 FY24.

Related News

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 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.

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.

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.

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.

Digit IPO Closes With 9.6X Subscription, QIBs Place Maximum Bids

Inc42 · 1y ago

Digit IPO Closes With 9.6X Subscription, QIBs Place Maximum Bids

Digit's public offering was oversubscribed 9.6 times, with retail individual investors subscribing 4.27 times, qualified institutional buyers 12.56 times, and non-institutional investors 7.25 times. The company plans to raise INR 2,614.6 Cr through the public offer, with the shares to be listed on the BSE and NSE. The funds raised will be used to maintain the company's solvency ratio. Digit joins other tech startups like TBO Tek, TAC Infosec, and Trust Fintech in listing on the stock market, while Awfis' IPO will open soon and other startups are awaiting SEBI approval for their IPOs.

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.

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.

Trust Fintech IPO: Public Issue Oversubscribed 3.02X On Day 1

Inc42 · 1y ago

Trust Fintech IPO: Public Issue Oversubscribed 3.02X On Day 1

Fintech SaaS company Trust Fintech's IPO was oversubscribed 3.02X on the first day, driven by high demand from retail investors. The company received bids for 1.35 Cr shares against 44.94 Lakh shares on offer. The retail portion was oversubscribed 5.33X, with bids for 1.11 Cr shares against 20.88 Lakh shares reserved for them. Non-institutional investors subscribed 2.72X. The IPO, which aims to raise around INR 63.45 Cr, will close on March 28. Trust Fintech offers SaaS products and fintech solutions for the BFSI sector and plans to utilize the proceeds for various purposes, including setting up a new development facility and expanding its global footprint.

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