How to check the allotment status of TAC InfoSec IPO

TAC Infosec IPO Allotment Status
TAC Infosec IPO Allotment Status

by Tanushree Jaiswal Last Updated: Apr 04, 2024 - 12:13 pm 362 Views
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Building blocks of the TAC InfoSec IPO

TAC Infosec IPO, a book built issue worth Rs 29.99 crores, comprises entirely of a fresh issue of 28.3 lakh shares. TAC Infosec IPO’s subscription for commenced on March 27, 2024, and concludes today, April 2, 2024. Allotment for the IPO is anticipated to be finalized on Wednesday, April 3, 2024. TAC Infosec IPO is slated to list on NSE SME with a tentative listing date set for Friday, April 5, 2024.

TAC Infosec IPO’s price band for is fixed at ₹100 to ₹106 per share. The minimum lot size for an application is 1200 Shares. Retail investors are required to invest a minimum amount of ₹127,200. For HNIs, the minimum lot size investment is 2 lots (2,400 shares), amounting to ₹254,400. TAC Infosec IPO book running lead manager is beeline Capital Advisors Pvt Ltd, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for TAC Infosec IPO is Spread X Securities.
 

How to check allotment status of TAC Infosec IPO?

Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Skyline Financial Services Private Ltd. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status on the website of the IPO registrar, Skyline Financial Services Private Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on April 3, 2024.

Checking the allotment status on Skyline Financial Services Private Ltd (Registrar to IPO)

Visit the Skyline Financial Services Private Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://www.skylinerta.com/ipo.php

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Skyline by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Skyline the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Skyline offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on April 3, 2024, so the investors would be able to access the online allotment status facility, either late on April 3, 2024 or by the middle of April 4, 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on April 4, 2024 or later. It would appear on the demat account with ISIN Number.

How allocation quota and subscription impact basis of allotment?

Here is a quick look at how the allocation was

made across different categories of investors in the IPO of TAC Infosec Limited IPO at the close of the IPO on April 2, 2024.

Investor Category Shares Allocated in IPO
Market Maker Shares 141,600 shares (5.00% of total issue size)
Anchor Allocation Portion 806,400 shares (28.50% of total issue size)
QIB Shares Offered 537,600 shares (19.00% of total issue size)
NII (HNI) Shares Offered 403,200 shares (14.25% of total issue size)
Retail Shares Offered 940,800 shares (33.25% of total issue size)
Total Shares Offered 2,829,600 shares (100.00% of total issue size)

Data Source: NSE

The TAC Infosec IPO saw unprecedented demand from investors, with a subscription level of 421.89 times. Retail investors displayed exceptional enthusiasm, subscribing a staggering 433.54 times, indicating strong retail participation and confidence in the company's prospects.

Non-Institutional Buyers (NII) exhibited remarkable interest, oversubscribing by an astonishing 768.83 times, reflecting high demand from high-net-worth individuals and institutional investors. This robust subscription underscores the attractiveness of the IPO in the eyes of sophisticated investors. Qualified Institutions also showed substantial interest, with a subscription level of 141.29 times, highlighting institutional confidence in the company's business model and growth potential.

Overall, the overwhelming response to the TAC Infosec IPO underscores investor confidence in the company's prospects and reflects positively on the market sentiment towards the cybersecurity sector.

Investor Category Subscription (times) Shares Offered Shares Bid for Total Amount (Rs Cr.)
Qualified Institutions 141.29 537,600 7,59,56,400 805.14
Non-Institutional Buyers 768.89 403,200 31,00,15,200 3,286.16
Retail Investors 433.80 940,800 40,81,16,400 4,326.03
Employees [.] 0 0 0
Others [.] 0 0 0
Total  422.03 1,881,600 79,40,88,000 8,417.33
Total Applications : 340,097

(Note: The total amount is calculated based on the final issue price or the price in the upper price range. Market Maker portion of 141,600 equity shares not included.)

To sum it up, the oversubscription is robust, so the chances of allotment in the IPO might be hopeful. The subscription levels on Day 3 reached unprecedented highs, signalling overwhelming investor confidence and setting the stage for a successful IPO debut.

Next steps in the IPO of TAC Infosec Ltd

With the IPO of TAC Infosec IPO closed for subscription at the end of 2nd April 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 3rd April 2024 while the refunds would be initiated on April 4, 2024. The shares of TAC Infosec Ltd would be credited to the demat accounts of eligible shareholders by the close of April 4, 2024 while the stock of TAC Infosec Ltd is expected to be listed on April 5, 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been way above modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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