Ahead of the listing, Tac Infosec’s shares were trading with a premium of Rs 115 in the grey market.
The IPO, which was completely a fresh equity issue of 28.2 lakh shares, received massive subscription of over 300 times.
Net proceeds from the IPO are utilised for acquisition of TAC Security Inc, Investment in human resources and general corporate purposes.
Tas Security is engaged in the business of providing risk-based vulnerability management and assessment solutions, cybersecurity quantification and services of Penetration testing to organizations of any scale, size, and business through SaaS model.
Also Read: Bharti Hexacom IPO opens for subscription. Should you bid?The company offers security software products and solutions both in India and internationally. Its end customers are banks and financial Institutions, government regulatory bodies and departments, large-scale enterprises (including business offices) like HDFC, Bandhan Bank, BSE, NPCI, DSP investment managers pvt ltd, Motilal Oswal Financial Services and NSDL e-governance.The company’s flagship software product is ESOF (Enterprise Security in One Framework), which was launched in 2018. ESOF is a vulnerability management platform consisting of various product portfolios namely ESOF Appsec, ESOF VMP, ESOF VACA, ESOF PCI ASV, ESOF CRQ.
All the products launched under ESOF Platform have a wide range of applications ranging from vulnerability management solutions for web and application-based data, compliance assessment, and cyber risk quantification.
The IT and BPM sector has become one of the most significant growth catalysts for the Indian economy, contributing significantly to the country’s GDP and public welfare. The IT industry accounted for 7.4% of India’s GDP in FY22, and it is expected to contribute 10% to India’s GDP by 2025.
For the six months ended September 2023, the company’s revenue from operations stood at Rs 5.02 crore and profit was at Rs 1.94 crore.
Beeline Capital Advisors was the book-running lead manager to the issue and Skyline Financial Services acted as the registrar.
