2 IPOs, backed by Vijay Kedia and Ashish Kacholia, booked over 10x each on Day 2

Continuing the positive trend seen on the first day, the SME IPOs of TAC Infosec and Radiowalla Network, backed by marquee investors Vijay Kedia and Ashish Kacholia, respectively, were subscribed over 10 times on the second day of the bidding process.

Here’s a look at all the details:

TAC Infosec IPO

The IPO of TAC Infosec, in which Vijay Kedia has invested, sailed through on the first day of the bidding. The issue picked up momentum even on the second day with an overall subscription of 17 times so far.

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

Investors can bid for 106 shares in one lot and then in multiples. 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 the SaaS model.

Also Read: SRM Contractors IPO marching towards 50x subscription on final day. Check GMP and other details

Radiowalla Network IPO

Ace investor Ashish Kacholia-backed Radiowalla Network, one of the leading providers of B2B customer engagement services, has also seen its IPO get over 10x subscriptions on the second day of the bidding.

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

The company is aiming to raise Rs 14.25 through this IPO, which will close on April 2. The issue size is up to 18.75 lakh shares at 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 one lot and then in multiples.

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 for 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.

Source link

Leave a comment