TAC Infosec IPO: Subscription Soars, Grey Market Premium Strong

TAC Infosec IPO: Subscription Soars, Grey Market Premium Strong/Pixabay

VoM News Desk | April 2, 2024 | 04:24 PM IST | Breaking News | Follow on Google News

TAC Infosec IPO: Subscription Soars, Grey Market Premium Strong

TAC Infosec IPO: Subscription Soars, Grey Market Premium Strong

TAC Infosec IPO, backed by Vijay Kedia, concludes today with a robust subscription rate of 412.17 times, reflecting strong investor interest. Retail investors subscribed 414.51 times, non-institutional buyers 767.88 times, and Qualified Institutional Buyers (QIBs) 141.29 times.

Subscription Status Highlights:

• Retail investors and non-institutional buyers exhibit overwhelming interest with subscriptions of 414.51 times and 767.88 times, respectively.
• QIBs show strong demand with a subscription rate of 141.29 times.
• The company received bids for 77,55,36,000 shares against 18,81,600 shares on offer.

IPO Details:

• The IPO, valued at approximately ₹29.99 crore, consists of a new issuance of 2,829,600 equity shares with a face value of ₹10 each.
• Objectives include investment in product development and human resources, acquisition of TAC Security Inc. (Delaware, USA), and pursuing general commercial objectives.

Grey Market Premium (GMP):

• Grey market premium stands at +125, indicating a premium of ₹125 in the grey market.
• Analysts estimate a listing price of ₹231 per share, representing a 117.92% increase over the IPO price.
• GMP trends suggest anticipation of a positive listing, reflecting investor confidence.

The overwhelming subscription rate and strong grey market premium signal favorable market sentiment towards TAC Infosec IPO, indicating potential for a successful listing.

VoM News Desk

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