Day 2 of the TAC Infosec IPO: Verify Subscription Status and GMP Today
TAC Infosec IPO: Investors have responded overwhelmingly to TAC Infosec Ltd.’s first public offering, which was made available for subscription on March 27. The Rs 29.99-crore SME IPO attracted 15.72 times as many subscriptions till 12:27 pm on the second day of bidding on Thursday, resulting in offers for 2,95,84,800 shares vs the 18,81,600 shares that were on sale.
While the section for Retail Individual Investors (RIIs) garnered 26.24 times as many subscribers, the category for non-institutional investors received 8.61 times as many. 2.66 times as many qualified institutional buyers (QIBs) as available quota were subscribed.
IPO GMP for TAC Infosec Today
Market watchers report that unlisted shares of TAC Infosec Ltd are selling on the grey market for Rs 103 more than the company’s issue price. The grey market anticipates a 97.17% listing gain from the public offering, as shown by the Rs 103 gray market premium, or GMP. The GMP is dynamic and dependent on market mood.
The willingness of investors to pay above the issue price is shown by the “grey market premium.”
Details about TAC Infosec’s IPO
The TAC Infosec IPO consists only of a new 28.3 lakh share offering. The initial public offering (IPO) is scheduled to conclude on April 3, 2024, with subscriptions remaining available from March 27 to April 2.
The NSE SME will offer the TAC Infosec IPO, with a provisional listing date of Friday, April 5, 2024.
The TAC Infosec IPO’s pricing range was set at Rs 100 to Rs 106 per share. An application must have a minimum lot size of 1,200 shares. Retail investors are needed to invest a minimum of Rs 1,27,200. For HNIs, the minimum lot size investment is two lots (2,400 shares), or Rs 2,54,400.
The TAC Infosec IPO’s registrar is Skyline Financial Services Private Ltd, and the book-running lead manager is Beeline Capital Advisors Pvt Ltd. Spread X Securities is the market maker for the IPO of TAC Infosec.
Founded in 2016, TAC Infosec Limited provides risk-based solutions in a software-as-a-service (SaaS) paradigm for vulnerability monitoring and assessment, cyber security quantification, and penetration testing.
Large businesses (including corporate offices) like HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, and NSDL e-Governance are among the company’s clients, along with banks and other financial institutions and government agencies and regulators.
During the fiscal year 2022-2023, it had a 93.7 percent increase in revenue and a 735.05 percent increase in profit after tax (PAT).
