Shares of TAC Infosec jumped 5% during intraday trading on August 27 to reach an all-time high of INR 853.15 apiece on the BSE.
The stock’s last closing price was 280% higher than its listing price of INR 290 apiece and 766% above its issue price of INR 106 per share
TAC Infosec posted a net profit at INR 6.33 Cr in FY24 on an operating revenue of INR 11.84 Cr
Shares of SaaS cybersecurity startup TAC Infosec jumped 5% during intraday trading today (August 27) to reach an all-time high of INR 853.15 apiece on the BSE.
The stock has given multibagger returns to its investors since its debut on NSE Emerge in April this year.
The stock closed Monday’s (August 26) trading session at INR 812.55 on the NSE Emerge, which is 280% higher than its listing price of INR 290 apiece and 766% above its issue price of INR 106 per share.
Interestingly, of the 10 new-age tech startups that have gone public this year, TAC Infosec has yielded the highest returns.
Founded in 2016 by Trishneet Arora, TAC Infosec offers risk-based vulnerability management and assessment solutions, and other SaaS cybersecurity solutions to enterprises and small businesses.
The company listed on NSE’s SME platform on April 5. Its initial public offering (IPO) received an overwhelming response from investors, closing with a 392.5X oversubscription. The startup raised INR 29.9 Cr through the IPO, which comprised a fresh issue of 28.29 Lakh equity shares.
The Vijay Kedia-backed startup posted a 23% jump in its net profit at INR 6.33 Cr in the financial year 2023-24 (FY24) from INR 5.12 Cr in the year-ago period.
Revenue from operations also surged 17% to INR 11.84 Cr during the year under review from INR 10.09 Cr in FY23.
The startup has been consistently expanding its client base, having added 250 new customers in the month of July. The same month, the board at TAC Infosec also approved the formulation, adoption and implementation of a new employee stock option (ESOP) plan, TAC ESOP 2024.
Recently, it was also reported that TAC Infosec has signed a share purchase agreement to acquire US-based cybersecurity startup Cyber Sandia for $25,000 (about INR 20.95 Lakh). The acquisition will help the startup to expand its service offerings and strengthen its direct engagement with government clients.
