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Vijay Kedia Backed TAC Infosec IPO Closes, Oversubscribed 412 Times, Aims for Market Expansion

Vijay Kedia backed TAC Infosec's IPO concludes, drawing a 412x subscription. Funds to boost product development and strategic acquisitions.

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Vijay Kedia Backed TAC Infosec IPO Closes, Oversubscribed 412 Times, Aims for Market Expansion

Vijay Kedia Backed TAC Infosec IPO Closes, Oversubscribed 412 Times, Aims for Market Expansion

Vijay Kedia backed TAC Infosec's Initial Public Offering (IPO) which opened on March 27, has concluded today, garnering an overwhelming response from investors, with subscriptions soaring to 412 times the available shares. The IPO, aiming to raise funds for product development, acquisitions, and other corporate purposes, has set a price band of 100-106 per share, with investors bidding for a minimum of 1,200 equity shares.

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Investor Confidence Sky-High

The TAC Infosec IPO saw a robust interest across investor categories, achieving a subscription rate of 412.17 times as of the fourth day. Retail investors, in particular, showed significant enthusiasm, with their portion being oversubscribed by 414.51 times. Non-institutional investors were not far behind, with a subscription rate of 767.88 times. Qualified Institutional Buyers (QIBs) also participated actively, marking a subscription rate of 141.29 times. This wide-ranging investor interest underscores the market's confidence in TAC Infosec's business model and future growth prospects.

Strategic Expansion and Development

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The funds raised from the IPO are earmarked for several key areas of development. TAC Infosec plans to invest in product development, enhancing its existing cybersecurity solutions portfolio. Additionally, part of the proceeds will go towards the acquisition of TAC Security Inc., Delaware, USA, aiming to transform it into a fully owned subsidiary. This strategic move is expected to bolster TAC Infosec's global presence and service capabilities, thereby opening up new avenues for growth and expansion.

Market Implications and Future Outlook

With the IPO receiving such a positive response from the market, TAC Infosec is poised for significant growth. The company's focus on cybersecurity solutions comes at a time when digital security concerns are at an all-time high, indicating a promising future for the firm. As TAC Infosec prepares to deploy the IPO proceeds towards product development and strategic acquisitions, the cybersecurity landscape is set to witness the emergence of more sophisticated and comprehensive solutions, benefiting a broad spectrum of clients across sectors.

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Vijay Kedia Backed TAC Infosec IPO Closes, Oversubscribed 412 Times, Aims for Market Expansion

Vijay Kedia backed TAC Infosec's Initial Public Offering (IPO) which opened on March 27, has concluded today, garnering an overwhelming response from investors, with subscriptions soaring to 412 times the available shares. 1. The IPO, aiming to raise funds for product development, acquisitions, and other corporate purposes, has set a price band of 100-106 per share, with investors bidding for a minimum of 1,200 equity shares. 2. The TAC Infosec IPO saw a robust interest across investor categories, achieving a subscription rate of 412.17 times as of the fourth day. Retail investors, in particular, showed significant enthusiasm, with their portion being oversubscribed by 414.51 times. 3. The funds raised from the IPO are earmarked for several key areas of development. TAC Infosec plans to invest in product development, enhancing its existing cybersecurity solutions portfolio. Read more: https://bnnbreaking.com/finance-nav/vijay-kedia-backed-tac-infosec-ipo-closes-oversubscribed-412-times-aims-for-market-expansion #india #StockMarkets #VijayKedia #TACInfosecIPO #Oversubscribed #MarketExpansion

Posted by BNN India on Tuesday, April 2, 2024
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