TAC Infosec IPO: Vijay Kedia-Backed Company Subscribed 152 Times

TAC Infosec IPO: Vijay Kedia-Backed Company Subscribed 152 Times

The price range for the issue is set at Rs 100 to Rs 106 per share, with each share having a face value of Rs 10.

Juviraj AnchilUpdated: Tuesday, April 02, 2024, 01:22 PM IST
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Ace investor Vijay Kedia backed SME TAC Infosec has been oversubscribed. Today, 2nd of April is the last day of its IPO. On the third after issuance of the IPO, the shares were subscribed 69.2 times. As of now, according to NSE, the offering has been subscribed 152.03 times.

The price range for the issue is set at Rs 100 to Rs 106 per share, with each share having a face value of Rs 10.

The total size of the issue stands at 20,23,200. And, a total of 30,75,84,000 bids have recorded. A total of 12,57,18,000 bids have been received at cut-off price.

A total of 31,33,200 shares have been earmarked for Qualified Institutional Buyers, in which Foreign Institutional Investors account for 30,91,200. Meanwhile, mutual funds bids amount to 2,400. On the other hand non-institutional investors have 8,10,85,200 bids.

Here individual overtake corporations, as individuals have 7,39,66,800 bids compared to 16,06,800 bids from corporates.

This development indicates robust demand in the market, especially in the new fiscal year. Despite this euphoria of oversubscription, it remains to be seen as to how the company performs once it is listed. In the past, many IPOs that saw bumper turnout for their issuance started trading on Dalal street on a weaker note.

Other firms that have issued their IPO include Creative Graphics Solutions India Limited, K2 Infragen Limited, Aluwind Architectural Limited, Yash Optics and Lens Limited, Radiowalla Network Limited. All of the aforementioned companies are SMEs.

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