Back-to-back upper circuit stock: Vijay Kedia-backed multibagger stock delivers unbelievable returns, over 500 per cent in just one month!

The company’s stocks debuted in the Indian market last month on April 5, 2024, and compared to the listing price, the stocks have delivered a return of around 150 per cent.

Investors always look for IPOs that can deliver multibagger returns on the listing day itself. IPOs listed with an impressive premium have the potential to continue delivering multibagger returns. One instance we found is an IPO that not only delivered a remarkable return on the listing day but also yielded a multibagger return of over 500 per cent in just one month. Additionally, it is backed by ace investor Vijay Kedia.

Vijay Kedia and Promoters Stakes:

The company's promoters are Trishneet Arora and Charanjit Singh. 74 per cent of the company is owned by the company's founder and CEO, Trishneet Arora. Renowned stock market investor Vijay Kishanlal Kedia owns 15 per cent of the company. Ankit Vijay Kedia owns 5 per cent of the company, Charanjit Singh owns 4 per cent, and Subinder Jeet Singh Khurana owns 2 per cent.

Stocks Performance:

From the final IPO issue price of Rs 106 per share, the shares of TAC Infosec have delivered an impressive multibagger return of around 582 per cent in just one month compared to the current market price of Rs 723.85 on the NSE. Moreover, the company’s stocks have hit back-to-back upper circuits, and even today, it is currently locked in the upper circuit of 5 per cent.

Also read Rekha Jhunjhunwala-backed company secured an international repeat order worth 34 million euros!

IPO Highlights:

The IPO was open for subscription from March 27, 2024, to April 2, 2024. Following the subscription period, the company's shares were listed on the stock exchange on April 5, 2024. Each share had a face value of Rs 10. The price band for the IPO ranged from Rs 100 to Rs 106 per share, with a lot size of 1200 shares. The total issue size amounted to Rs 29.99 Crore. The stock debuted at Rs 290 each, reflecting a premium of 173.58 per cent.

The TAC Infosec IPO was subscribed 422.03 times as of April 2, 2024. The public issue was subscribed 433.80 times in the retail category, 141.29 times in the QIB category, and 768.89 times in the NII category. The company has not yet released its Quarterly Results after listing in the market.

TAC Infosec Limited was founded in 2016 and offers risk-based solutions for vulnerability management and assessment, cyber security quantification, and penetration testing in a SaaS model.

Investors must keep this Small-Cap multibagger stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.