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IPO

Cybersecurity co TAC Infosec’s Rs.30-Cr IPO subscribed 64x

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Cybersecurity startup TAC Infosec’s initial public offering (IPO) was subscribed 64.2 times on the third day on April 1. The public issue received bids for 12.98 crore shares as against 20.23 lakh shares on offer. Retail individual investors placed bids for 10.7 crore shares as against 9.4 lakh shares earmarked for them, resulting in 114 times subscription. The IPO comprised a fresh issue of 28.2 lakh equity shares.Earlier, TAC Infosec garnered INR 8.55 crore by selling 8.06 lakh equity shares to its anchor investors at a price of INR 106 each. TAC Infosec planned to raise INR 29.9 crore at the upper end of the price band. The company aims to invest in product development and to acquire TAC Security Inc.