Vijay Kedia-backed TAC Infosec makes blockbuster debut, lists at 173% premium on NSE SME

The price band of the IPO was fixed at Rs 100-106.

Shares of TAC Infosec Limited made an impressive start on their market debut on April 5, opening at Rs 290, a massive premium of 173 percent over the issue price of Rs 106 on the NSE SME platform. The listing gains beat the grey market estimates by a healthy margin as the stock traded at Rs 219 ahead of its debut.

The public offer of Rs 29.99 crore was purely a fresh issue of 28.3 lakh shares. The price band of the IPO was fixed at Rs 100-106.

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Established in 2016, the company provides risk-based solutions for vulnerability management and assessment, cyber security quantification, and penetration testing in a Software as a Service (SaaS) model. Its clients are banks, financial institutions, and government regulators. Some major names are HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, and NSDL e-Governance.

The firm's promoters are Charanjit Singh and Trishneet Arora. Trishneet Arora, serving as the company's CEO and founder, holds a 74 percent ownership stake in TAC Security. Additionally, well-known stock market investor Vijay Kishanlal Kedia owns 15 percent of the firm.

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.