Unlisted shares of TAC Infosec Ltd are trading Rs 110 higher in the grey market, expecting a 103.77 per cent listing gain from the public issue
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TAC Infosec IPO: The initial public offering of TAC Infosec Ltd, which was opened for public subscription on March 27, has received a whopping response from investors. Till 11:03 am on the third day of bidding on Monday, the Rs 29.99-crore SME IPO received 43.55 times subscription, garnering bids for 8,19,51,600 shares against 18,81,600 shares on offer.
The category for non-institutional investors got subscribed 32.05 times while the portion for Retail Individual Investors (RIIs) attracted 71.85 times subscriptions. The quota for Qualified Institutional Buyers (QIBs) got subscribed 2.67 times.
TAC Infosec IPO GMP Today
According to market observers, unlisted shares of TAC Infosec Ltd are trading Rs 110 higher in the grey market as compared with its issue price. The Rs 110 grey market premium or GMP means the grey market is expecting a 103.77 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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TAC Infosec IPO Details
The TAC Infosec IPO is entirely a fresh issue of 28.3 lakh shares. The IPO, which will remain opened for subscription between March 27 and April 2, is likely to be finalised on April 3, 2024.
TAC Infosec IPO will be listed on the NSE SME with a tentative listing date fixed as Friday, April 5, 2024.
The price band of the TAC Infosec IPO was fixed at Rs 100 to Rs 106 per share. The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,27,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,54,400.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the TAC Infosec IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for TAC Infosec IPO is Spread X Securities.
TAC Infosec Limited, which was set up in 2016, offers risk-based solutions for vulnerability management and assessment, cyber security quantification and penetration testing in a SaaS model.
The company’s clients include banks and financial institutions, government regulators and departments, large enterprises (including corporate offices) such as HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited and NSDL e-Governance.
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Its revenue jumped 93.7 per cent and profit after tax (PAT) surged 735.05 per cent in the financial year 2022-23.
