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If you follow famous investor Vijay Kedia and his ideas on stock picking, then you know: subscriptions have just opened for a new IPO, which is backed by Vijay Kedia himself. Greetings . You are watching Business Today Television. I'm Sakshi Batra, and in this video I'm going to tell you all the details you need to know about this new IPO that's hit the market.
First of all, this is an SME IPO. It belongs to the TAC Security group. TAC Security has launched its IPO at a valuation of Rs 29.9 crore . This is a completely new share issue. Remember that TAC Security is India's first company specializing exclusively in cybersecurity. The company offers security software, solutions and products both in India and abroad.
Its clients include renowned brands such as HDFC, Bandhan Bank, Bombay Stock Exchange, National Payments Corporation of India (NPCI), DSP Investment Managers, Motilal Oswal Financial Services and NSDL e-Governance. The IPO price range is Rs 100 to Rs 106 per share with a face value of Rs 10 each. Please note that subscriptions opened today and will run until April 2nd.
The lot size is 1200 shares. You can apply for a minimum of 1,200 shares, and then in multiples of 1,200 shares. About 50% of the offering is reserved for qualified institutional buyers, 35% for retail investors, and 15% for other non-institutional investors. It is important that the company is profitable.
What are its financial indicators? The company's after- tax profit grew by a staggering 735%, and revenue increased by almost 94% between March 2022 and March 2023 . So, financial results show confident growth. What does the company plan to do with the raised funds? Of the Rs 30 crore planned to be raised through the IPO, the net proceeds will be used for the acquisition of TAC Security Inc., setting it up as a subsidiary , and for general corporate purposes.
Who are the promoters of the company? These are Trishneet Arora and Chiranjeet Singh, Vijay Kishanlal Kedia ( known as Vijay Kedia), who owns 15% of the shares, and Ankit Vijay Kedia. Also among the owners is Subinderjit Singh Khurana, who owns 2 to 5% of the company's shares. So, after the IPO, founder Trishneet Arora will own about 50% of the company's shares, followed by Vijay Kedia with about 9%.
10.9% stake, his son Ankit—about 3.6% stake. Also, Chiranjit Singh and Subinderjit Singh Khurana will own stakes of approximately 2.9% and 1.4%, respectively. Hence, TAC Infosec shares are likely to be listed on the NSE SME platform on April 5. So, on April 2, applications close, and on April 5, the shares are listed on the SME exchange.
Now, what exactly does the premium on the “ gray” market tell us about this company’s shares? Let me remind you, the price range is from 100 to 106 rupees. Currently, the premium on the "gray" market is between 80 and 85 rupees per share. This means that you get a substantial premium of 80-85% on the over-the-counter market.
Remember that the "gray " market is an unofficial platform. So, this is just an indicator of the demand that the company is already generating in the unofficial market, and it can give clues about potential demand and profitability after listing. However, please note that this is only an unofficial market and only indicative data.
Investors usually follow this to understand the sentiment around this new IPO. First of all, there are a few factors that work really well. Firstly, it is an investment from the famous investor Vijay Kedia. Secondly, it is a purely cybersecurity firm, and the first one that plans to list its shares on stock exchanges.
Cybersecurity, as we know, is a growing industry in India, so we see an attractive price tag along with the company's steadily growing profitability. However, as this is a small and medium-sized enterprise (SME) IPO, I advise all our viewers to consult their financial advisor before applying to participate.
Even if there are big names like Vijay Kedia or other famous investors you follow. This is something to keep a close eye on , and only if your financial advisor advises you to invest should you make such a decision. But this release is already attracting a lot of attention from investors. That concludes this special video, but stay tuned to Business Today TV for all the latest news from stock market brokers on how they are assessing the sector.
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