Synopsis:
CyberScope Web3 Security Inc., a subsidiary of TAC InfoSec Limited, has received broad approval for its IPO filing in the U.S. and is set to be listed on Nasdaq.
This Micro-cap IT Stock, engaged in cybersecurity services, including vulnerability management, penetration testing, and risk assessment, delivering SaaS-based solutions to protect organizations’ digital assets, hit a 5 percent upper circuit after its subsidiary filed for an Initial Public Offering (IPO) in the United States
With a market capitalization of Rs. 983.82 crores, the shares of TAC Infosec Limited hit a 5 percent upper circuit of Rs. 938.80 per share on Tuesday, up from its previous closing price of Rs. 894.10 per share.
What is the news?
TAC InfoSec Limited has announced that its subsidiary, CyberScope Web3 Security Inc., has received approval from its Board of Directors to begin the process of filing for an Initial Public Offering (IPO) in the United States.
CyberScope, which is incorporated in the Cayman Islands, will confidentially submit a Draft Registration Statement (Form F-1) to the U.S. Securities and Exchange Commission (SEC). The proposed listing is planned for the Nasdaq Capital Market, subject to regulatory clearances and market conditions.
As part of the IPO process, CyberScope has appointed key advisors and auditors, including Winston & Strawn LLP as U.S. Legal Counsel, Appleby (Cayman) Ltd. as Cayman Islands Legal Counsel, Maxim Group LLC as Financial Reporting Advisor, and Suri & Co., Chartered Accountants, as PCAOB Auditors.
The company has clarified that the IPO details, including size, timing, and pricing, will be subject to SEC review and market conditions. Further updates will be provided in line with SEBI and SEC disclosure requirements.
Shareholding pattern
In March 2025, TAC Infosec Limited had a majority stake held by the promoters at 56.94 percent, foreign institutional investors at 3.57 percent, and the public at 39.49 percent. In the public holding, Ace investor Vijay Kishanlal Kedia holds a 14.6 percent stake in TAC Infosec Limited, valued at Rs. 143.6 crores, consisting of 15.30 lakh shares.
Company Overview
TAC Infosec Limited was established in 2016 and is a global cybersecurity firm focused on risk-based vulnerability management and assessment solutions. The company delivers cybersecurity quantification and penetration testing services to organizations of all sizes, primarily through a SaaS (Software as a Service) platform.
The company caters to a broad range of clients, including well-known global companies such as Autodesk, Salesforce, Xerox, Nissan, Microsoft, Lenovo, Dropbox, Fujifilm, Casio, and BlackBerry. The company also serves other prominent organizations like Brother, CloudHQ, Zipto, and Bandhan Bank, demonstrating its extensive presence across multiple industries.
TAC Infosec has made significant strides, including filing four product patents in the U.S. and serving more than 2,350 clients. The company offers five AI-powered software products designed to help businesses effectively manage cybersecurity risks and currently operates across 90 countries worldwide.
Recent quarter results
Coming into financial highlights, TAC Infosec Limited’s revenue has increased from Rs. 7 crore in H2 FY24 to Rs. 15 crore in H2 FY25, which has grown by 114.29 percent. The net profit has also grown by 150 percent from Rs. 4 crore in H2 FY24 to Rs. 10 crore in H2 FY25. In FY25, TAC Infosec Limited’s revenue and net profit have grown by 150 percent each compared to the last financial year, 2023-24.
In terms of return ratios, the company’s ROCE and ROE stand at 39.1 percent and 38.5 percent, respectively. TAC Infosec Limited has an earnings per share (EPS) of Rs. 12.5, and its debt-to-equity ratio is 0.03x.
Written By – Nikhil Naik
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