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India’s TAC Security Makes History with $1 Billion IPO Subscription

Initial Public Offering (IPO)


India’s TAC Security Makes History with $1 Billion IPO Subscription

TAC Security, India’s pioneering cyber security firm, has set a remarkable milestone with its Initial Public Offering (IPO) receiving subscription bids worth a staggering $1 billion. The IPO, which opened on March 27 and concluded today, April 02, 2024, witnessed an overwhelming response from investors across all categories.

The Qualified Institutional Buyer (QIB) portion of the IPO was oversubscribed 142 times, while the Non-Institutional Investor (NII) portion saw an astonishing 769 times oversubscription. Retail individual investors (RIIs) also showed tremendous interest, subscribing 434 times their quota. This robust response brought the overall subscription to a remarkable 422 times.

The IPO, aimed at raising Rs. 29.99 crore, featured a price band of Rs. 100-106 per Equity Share, with a face value of Rs. 10 apiece. The offering comprised a fresh issue of 28.29 lakh Equity Shares through the book-building route, with a minimum lot size of 1,200 Equity Shares. TAC Security is set to be listed on NSE Emerge.

Beeline Capital Advisors Private Limited acted as the sole Book Running Lead Manager for the IPO, while SpreadX Securities Private Limited served as the market maker.

TAC Security plans to utilize the net proceeds from the IPO to invest in human resources and product development, supporting organic growth in India, and to hire skilled personnel for organic growth outside India through its subsidiary TAC Security INC. (Delaware, USA). The remaining capital will be allocated for general corporate purposes.

Founded by the visionary entrepreneur Trishneet Arora, TAC Security offers risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing to organizations of all sizes through a Software as a Service (SaaS) model. Trishneet Arora, aged 30, has been instrumental in steering the company’s business growth strategy, leveraging his extensive experience in cybersecurity and vulnerability management.

Trishneet Arora’s leadership has earned him numerous accolades, including being recognized as one of GQ’s Top 50 Most Influential Young Indians in 2017, Entrepreneur of the Year in 2020, and a two-time recipient of the Leaders of Tomorrow award by the St. Gallen Symposium, Switzerland, in 2018 and 2022. He has also been featured on the prestigious Forbes “30 Under 30” Asia 2018 list and Fortune India’s “40 Under 40” list in 2018 and 2021.

For more information, please visit TAC Security’s official website.

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