TAC Security Seeks To Raise Rs 29.9 Crore In IPO
The Vijay Kedia-backed company aims to be listed with NSE Emerge.
Cybersecurity company TAC Security has announced that its initial public offering will open on March 27. The anchor portion will open on March 26, and the issue will conclude on April 2.
The Vijay Kedia-backed company intends to raise around Rs 29.9 crore from the offering and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs 100-106 per share, and the lot size will be 1,200 equity shares.
TAC Security said the IPO will comprise fresh issue of 28,29,600 equity shares with a face value of Rs 10 through the book-building route. Around 1.41 lakh equity shares have been reserved for market makers, 4.03 lakh shares for non-institutional investors, 13.44 lakh for qualified institutional buyers (including anchor reservation) and 9.4 lakh for retail individual investors.
According to the RHP document, the company proposes to use the net proceeds from the IPO to invest in human resources and product development to support organic growth in India and investment in TAC Security Inc. (Delaware, U.S.) to hire skilled personnel for organic growth outside India. The remaining capital will be used for general corporate purposes.
Beeline Capital Advisors Pvt. is the book-running lead manager, and Skyline Financial Services Pvt. is the registrar for the issue.
