TAC Infosec IPO booked 48x so far on Day 3; Radiowalla issue subscribed 28x

The SME IPOs of TAC Infosec and Radiowalla Network, backed by marquee investors Ashish Kacholia and Vijay Kedia, continue to see robust responses from investors on the third day of the bidding process. Both issues will close for subscription today.

Here’s a look at all the details of these issues:


TAC Infosec IPO

The IPO of TAC Infosec, in which Vijay Kedia has invested, was booked 48 times so far on the third day. The issue received bids for 9.69 crore shares as against 20 lakh shares on offer.

The company has fixed a price band of Rs 100-106 per share.

Investors can bid for 106 shares in one lot and multiples thereafter. The cybersecurity company’s public offer comprises a fresh equity issue of 28.2 lakh shares.

The issue is being made through the book-building process, wherein 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

TAC Infosec is engaged in the business of providing risk-based vulnerability management and assessment solutions, cybersecurity quantification and services of penetration testing to organisations of any scale, size, and business through SaaS model.

Also Read: SRM Contractors IPO allotment to be finalised soon. Here’s how you can check status

Radiowalla Network IPO

Ace investor Ashish Kacholia-backed Radiowalla Network, one of the leading providers of B2B customer engagement services, has seen its IPO get 28x subscription on the third day of bidding.

As of the filing of RHP, Kacholia holds about 10.6% equity in the company.

The company is aiming to raise Rs 14.25 through this IPO, which closes on April 2. The issue size is up to 18.75 lakh shares at a face value of Rs 10 each.

The IPO is priced in the range of Rs 72-76 per share, where investors can bid for 1,600 shares in 1 lot and its multiples thereafter.

In the IPO, around 5.26 lakh shares will be allocated to anchor investors, around 3.53 lakh shares are reserved for qualified institutional buyers, 6.17 lakh shares of retail investors and the rest for non-institutional investors.

Radiowalla Network specialises in B2B-focused customer engagement services. The company offers a comprehensive range of solutions, including in-store radio, corporate radio services, and a variety of audio and visual advertising options.

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William Murphy

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