 "Cybersecurity firm TAC considering IPO in 2024 among options to raise funds")
TAC Security, which provides cybersecurity services, is considering an initial public offering (IPO) in early 2024 as it explores options to raise capital.
“Since our inception a decade ago, we have focused on building a unique blend of capabilities, talent, and presence. We are now embarking on our next growth stage – aiming for a nearly ten-fold increase in revenues by FY26 through organic growth and inorganic expansion,” said Trishneet Arora, founder and chief executive officer of TAC Security, in a company press statement. “Towards this, we aim to become among the few listed cybersecurity players globally.”
Beeline Capital Advisors will be the exclusive lead manager for TAC’s proposed IPO. TAC aims to earn Rs 100 crore as revenue by 2026 and have a clientele of 10 million globally.
TAC’s clients include state governments in the United States, HDFC Limited, DSP Mutual Fund, and Bandhan Bank. In 2016, the company received backing from stock market investor Vijay Kedia.
The company has since 2017 provided security assessment services to the National Payments Council of India (NPCI).
It assists the BSE and the National Stock Exchange, the two largest in the country, to “address cybersecurity vulnerabilities across the trading process in real-time”.