TechD Cybersecurity IPO
TechD Cybersecurity Limited · Cybersecurity Services
- Issue price
- ₹193per share
- Issue size
- ₹38.99 Cr20,20,200 shares
- Face value
- ₹10per equity share
- Lot size
- 1,200 sharesMin. ₹2.32 L at the upper price
- Anchor biddingFri, 2025
- OpensMon, 2025
- ClosesWed, 2025
- AllotmentThu, 2025
- ListingMon, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 20,20,200 shares (₹38.99 Cr)
- Offer for sale
- None
- Total issue
- 20,20,200 shares (₹38.99 Cr)
- Market maker portion
- 1,01,400 shares
- Face value
- ₹10
- Listing at
- NSE Emerge
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail41.1%
- Anchor35.1%
- NII17.6%
- Market maker6.2%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 6,72,000 | 43.78% | 35% |
| Non-institutional investors (NII) | 2,88,000 | 18.76% | 15% |
| Qualified institutional buyers (QIB) | 9,58,800 | 62.47% | 50% |
| Anchor investors | 5,74,800 | 37.45% | — |
| Market maker | 1,01,400 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹193 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 1,200 | ₹2.32 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25- EPS (basic)
- ₹16.44
- EPS (diluted)
- ₹16.44
- P/E (FY 2024-25 at cap price)
- 17.23×
- RoNW
- 37.93%
- NAV per share
- ₹81.72
- NAV per share
- ₹40.55
- Debt to equity
- 0.01
- EBITDA margin
- 40.48%
- PAT margin
- 28.18%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 29.80 | 15.07 | 7.56 |
| Total income | 30.23 | 15.36 | 7.59 |
| EBITDA | 12.24 | 4.91 | 1.36 |
| Profit after tax | 8.40 | 3.24 | 0.94 |
| Net worth | 22.14 | 4.80 | 1.56 |
| Reserves and surplus | 16.68 | 4.79 | 1.55 |
| Total assets | 29.08 | 9.14 | 6.98 |
| Total borrowing | 0.32 | 1.81 | 1.93 |
FY 2024-25 vs FY 2023-24: revenue +97.7%, profit after tax +159.0%.
Source: ProspectusUpdated
About the company
The company provides end-to-end cybersecurity services to enterprises, including managed security, vulnerability testing, compliance and staff augmentation. It also runs cybersecurity training and university course partnerships. It serves domestic and international clients across several industries.
- Incorporated
- 2017
- Industry
- Cybersecurity Services
- Sector
- IT and Software
- CIN
- U72900GJ2017PLC095215
- Website
- techdefencelabs.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Mr. Vaghela Piyush Rasiklal | — | — |
| Mr. Sunny Piyushkumar Vaghela | 86.61% | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Investment in human resources (recruitment of new staff across departments) | 26.09 |
| Capital expenditure for Global Security Operation Centre at Ahmedabad | 5.89 |
| General corporate purposes | 3.61 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| TAC Infosec Limited | ₹13.77 | 80.40× | 26.10% | ₹52.71 |
| Sattrix Information Security Ltd | ₹6.27 | 29.64× | 11.08% | ₹53.72 |
| TechD Cybersecurity LimitedIssuer | ₹16.44 | 17.23× | 37.93% | ₹40.55 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Founder-led company with a promoter who has long experience in cybersecurity.
- Broad service range covering managed security, testing, compliance and staffing.
- CERT-In empanelled and ISO 27001 certified.
- Growing revenue and profit over the three reported years.
- Own training pipeline through university partnerships.
Risks
- Top ten customers account for a large share of revenue.
- Heavy dependence on Gujarat and Maharashtra for revenue.
- Employee costs form a major part of expenses and attrition is high.
- Use of proceeds depends on recruitment and a new facility not yet built.
- Promoters hold most of the pre-issue shares and no assurance of post-listing trading exists.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹193) appear here after the shares list on NSE Emerge.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the TechD Cybersecurity IPO open and close?
According to the Prospectus, the issue opens on Monday, 15 September 2025 and closes on Wednesday, 17 September 2025.
What is the TechD Cybersecurity IPO price band?
The final issue price is ₹193 per share.
What is the lot size of the TechD Cybersecurity IPO?
One lot is 1,200 shares, which is ₹2.32 L at ₹193 per share.
Where will TechD Cybersecurity shares list?
On NSE Emerge. The tentative listing date is Monday, 22 September 2025.
Who is the registrar of the issue?
Purva Sharegistry (India) Private Limited (SEBI registration INR000001112). Allotment status is checked on the registrar's website.
How do I check the TechD Cybersecurity IPO allotment status?
The basis of allotment is expected to be finalised on Thursday, 18 September 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (Purva Sharegistry (India) Private Limited). Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹26.09 Cr for investment in human resources (recruitment of new staff across departments), ₹5.89 Cr for capital expenditure for Global Security Operation Centre at Ahmedabad, ₹3.61 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.