TAC InfoSec arm CyberScope Web3 Security gets board nod to launch IPO in US

Chandigarh, Aug 19 (PTI) Cybersecurity vulnerability management company TAC InfoSec Limited on Tuesday said its subsidiary CyberScope Web3 Security Inc. has received the board approval to launch an initial public offering (IPO) in the US.

CyberScope, incorporated in the Cayman Islands, plans to submit a draft registration statement with the US stock market regulator SEC (Securities and Exchange Commission) in the coming weeks.

The board of directors of CyberScope Web3 Security Inc, a subsidiary of TAC InfoSec Limited, at its meeting held on August 18, has considered and approved the proposal to initiate the process of filing a confidential Draft Registration Statement (DRS) on Form F-1 with the US SEC for a proposed IPO in the United States, TAC InfoSec said in a statement.

If successful, the listing would take place on the Nasdaq Capital Market, subject to regulatory approvals and market conditions. The IPO timing, size, and pricing will be determined following SEC review, it said.

The statement further said the move underscores TAC InfoSec's ambition to broaden its global footprint and capitalise on what it calls a rapidly expanding market for blockchain and decentralised security solutions.

"Founded by Trishneet Arora and listed on the National Stock Exchange of India in 2024, TAC Security has built a reputation as a leader in vulnerability management, serving more than 3,000 clients in 100 countries. Its roster includes global names such as Adobe, Microsoft, Salesforce, Nissan Motors, and the United Nations' Food and Agriculture Organization," the statement said.

Last year, TAC Security became one of the first cybersecurity firms worldwide to achieve ISO 17025 certification, bolstering its credibility in global testing and compliance.

CyberScope focuses on smart contract audits, decentralised finance protocols, token compliance, and blockchain risk intelligence.

Earlier this year, it has filed a patent application in the US for an AI-driven trust scoring platform that fuses on-chain, off-chain, and market data to evaluate blockchain projects in real time -- a system that the company claims could transform investor and regulatory oversight of digital assets. PTI SUN VSD HVA