TAC Infosec IPO: Check allotment status, latest GMP and listing date of Vijay Kedia-backed issue

Vijay Kedia-backed TAC Infosec is all set to make its Dalal Street debut on Friday and the company has already finalized the basis of allotment of its shares. The information-technology solutions provider had received a bumper response from the investors during the bidding process.

According to the RHP of the company, seasoned investors Vijay Kishanlal Kedia and his son Ankit Vijay Kedia cumulatively owned 15.30 lakh equity shares of the company, which is about 20 per cent stake on a pre-IPO basis. Post issue, their stake shall be diluted to 14.6 per cent. The company saw bids for Rs 8,417.33 crore during the book building process.

The Mohali-based TAC Infosec sold its IPO in the price band of Rs 100-106 per share with a lot size of 1,200 shares, which was open for bidding between March 28 and April 2. The company aimed to raise around Rs 29.99 crore from its primary offering, which was entirely a fresh share sale of 28,29,600 equity shares.

The issue was overall subscribed a solid 421.89 times, thanks to strong bidding from all categories of investors. The portion for non-institutional bidders (NIIs) was booked a whopping 768.83 times. The quota for qualified institutional investors (QIBs) was subscribed 141.29 times, and the portion of retail investors was subscribed 433.54 times during the bidding process.

Grey market premium (GMP) of TAC Infosec has seen some correction, ahead of its listing. Last heard, the company was commanding a premium of Rs 110 per share in the unofficial market, suggesting a listing pop of 103 per cent for the investors. However, the premium stood at Rs 125 apiece, when bidding for the issue closed.

Founded in 2016, TAC Infosec offers risk-based solutions for vulnerability management and assessment, cyber security quantification and penetration testing in a SaaS model to e banks and financial institutions, government regulators and departments, large enterprises.

Beeline Capital Advisors is the book running lead manager of the TAC Infosec IPO, while The market maker for the issue is Spread X Securities. Shares of the company shall be listed at the SME platform of NSE on Friday, April 5, 2024.

Investors, who had bid for the issue, can check the allotment status on the National Stock Exchange (NSE) website. Investors can also check the allotment status on the online portal of Skyline Financial Services Private Limited (https:https://www.skylinerta.com/), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of Skyline Financial Services Private Limited
2) Click on public issues in the blue-tab.
3. Select the company in the dropbox, whose allotment status you need to check.
4.Enter the details of the mode of your choice out of: Application number/CAF No, Beneficiary ID, or PAN ID.
5) Hit Search to know your allotment status.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.