Stock market today: Vijay Kedia-owned multibagger NSE SME stock hits upper circuit

Stock market today: TAC Infosec share price hit the 5% upper circuit limit during Monday’s trading session amidst subdued market sentiment. Since its debut on April 5, 2024, TAC Infosec share price has surged by 1,100.9% in less than a year, providing multibagger returns for its investors. TAC Infosec share price opened at an intraday high of ₹1,273 apiece on the NSE, the stock touched an intraday low of ₹1,273 per share.

According to the most recent filings, the company reported that its revenue from operations for the first half of the fiscal year 2024-25 (H1 FY25) reached ₹13.16 crore, while its profit after taxes amounted to ₹6.5 crore. The company achieved its highest market capitalisation at ₹1781 crore.

Additionally, in the first half of FY25, the company aimed to enhance its footprint in international markets via acquisitions in the US and Dubai. The company envisions establishing itself as a reliable cybersecurity ally for government entities worldwide, beginning with the United States.

Recently, the company invested in a stake in CyberScope, I.K.E., a prominent firm specializing in Web3 security. This acquisition marks a strategic effort to strengthen the Company’s standing in the swiftly expanding Web3 security market, where CyberScope has established itself as a leader known for its exceptional services in smart contract auditing, penetration testing, and KYC verification. This will further improve the Company’s range of products and increase its client base within the Web3 ecosystem.

Vijay Kedia’s Major Investment in TAC Infosec

Veteran investor Vijay Kedia is a significant shareholder in TAC Infosec. According to shareholding information available until September 2024, Kedia possesses 1,147,500 shares, which accounts for approximately 10.95% of the company’s equity. His son, Ankit Kedia, owns 382,500 shares, representing around 3.65% of the total. In total, the Kedia family holds 1,530,000 shares, making up about 15% of the company’s shares. These numbers reinforce the Kedia family’s strong confidence in the company’s potential for growth.

Additionally, TAC Security had an impressive debut on NSE Emerge, with subscription bids surpassing $1 billion. This achievement positions TAC Security as the first dedicated cybersecurity firm to be listed in India, according to the company.

TAC Infosec share price

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One highlighted that TAC Infosec share price is a low volume stock that generally moves in circuit, Technical view on such counters are not available. The recent lows around 950 coinciding with 200 sma is support whereas 1550 as resistance.

TAC Infosec IPO

The TAC Infosec IPO, backed by Vijay Kedia, was available for subscription starting from Wednesday, March 27, until Tuesday, April 2. The price range for the offering was established between ₹100 and ₹106 per share, with a face value of ₹10. Investors had the option to bid for a minimum of 1,200 equity shares, which set the lot size for the TAC Infosec IPO. By day 4, the TAC Infosec IPO subscription status reached an impressive 422.03 times.

The TAC Infosec shares had a remarkable launch on the NSE SME today. When listed on NSE SME, the TAC Infosec share price commenced at ₹290, representing a significant increase of 173.58% above the issue price of ₹106.

With a IPO value of approximately ₹29.99 crore, the TAC Infosec IPO consisted of a new issue of 2,829,600 equity shares, each carrying a face value of ₹10. There was no component for an offer-for-sale included.

The goals set to be accomplished included investing in human resources and product development, acquiring TAC Security Inc. (Delaware, USA) and transforming it into a wholly owned subsidiary, and pursuing various general commercial objectives.

“TAC Security made a stellar debut on NSE Emerge, attracting subscription bids exceeding $1 billion. This milestone marks TAC Security as the first pure-play cybersecurity company to be listed in India,” the company said in an exchange filing.

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