TAC Infosec, risk and vulnerability management company, on Friday made a strong debut on the NSE Emerge platform. The stock was listed at ₹290, a premium of 174 per cent over IPO price of ₹106. The stock rose further to end at ₹304.50. Trading volume stood at 14.60 lakh shares.

The ₹30-crore public offer saw an overwhelming response from all category of investors with QIB portion getting 142 times. The quota for high net worth individual was subscribed 769 times and retail investors by 434 times, bringing the overall subscription to 422 times.

The IPO comprised a fresh issue of 28.29 lakh equity shares with a face value of ₹10.

Marquee investors, including NAV Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC, Beacon Stone Capital VCC – Beacon Stone I, Zinnia Global Fund PCC – Cell Dewcap Fund and LC Radiance Fund VCC subscribed to its anchor book.

TAC Security proposes to use the net proceeds from the IPO to invest in human resources and product development to support organic growth in India and investment in TAC Security INC. (Delaware, USA) to hire skilled personnel for organic growth outside India. The remaining capital will be used for general corporate purposes.

The company, backed by stock market maven Vijay Kedia, offers risk-based vulnerability management and assessment solutions, cybersecurity quantification and Penetration testing to organisations of any scale, size, and business through the “SaaS model”.