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TechD Cybersecurity Limited IPO
Price Band
₹183.0–193.0
Issue Size
₹38.99 Cr
Lot Size
600 shares
Min Investment
₹231,600
2 LOTS MIN
GMP
+₹210.0 (108.81%)
Issue Price
₹193.0
Subject to Sauda
₹95800
Paid only if allotted
TechD Cybersecurity Limited IPO AI Summary
- TechD Cybersecurity Limited IPO is listed on NSE SME in the IT Enabled Services sector.
- Price band: ₹183.0–₹193.0 per share, lot size 600 shares (min. investment ₹231,600, 2 lots minimum).
- Subscription window: 15 Sep–17 Sep 2025, listing on 22 Sep 2025.
- Current GMP is +₹210.0 (108.81%), an estimated listing price of ₹403 — unofficial and can change daily.
TechD Cybersecurity Limited is a promising player in the cybersecurity sector, with a strong service offering and a growing client base. The company's financials show significant growth in revenue and profit, and it has a solid plan for utilizing the proceeds from its IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
TechD Cybersecurity Limited IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 17 Sep 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
TechD Cybersecurity Limited IPO Grey Market Premium (GMP) Today
GMP
+₹210.0
GMP %
+108.81%
Est. Listing
₹403.0
Updated: 25 Jul 2026 14:12
About the Company
Established in January 2017 TechDefence Labs Solutions Limited is a cybersecurity firm specializing in safeguarding digital assets for organizations worldwide. The company offers solutions for end-to-end services to enterprises to help businesses stay secure in the digital world. The company provides a wide range of services, including MSSP solutions, Cyber Program Management, VAPT, Compliance Services, Specialised Services, and Staff Augmentation to meet diverse client needs. Clients such as Adani Group, Zensar Technologies, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporation benefit from the company's cutting-edge solutions that enhance their cyber resilience. The company offers a comprehensive suite of services, including: Vulnerability Assessment and Penetration Testing (VAPT):Identifying and mitigating vulnerabilities in web and mobile applications to enhance security. Security Operations Center (SOC) Services:Providing continuous monitoring and analysis to detect and respond to cybersecurity incidents promptly. Cybersecurity Consulting:Offering expert guidance on security strategies, compliance, and risk management to fortify organizational defenses. Domain Training:Educating professionals through workshops and bootcamps on the latest cybersecurity practices and threat mitigation techniques. As of June 30, 2025, the Company has 147 employees on payroll. Competitive Strength: Qualified and Experienced Promoters & Management. Comprehensive and Integrated Cybersecurity Service Offering. CERT-In Empanelment and Regulatory Authority. Continuous Supply of Skilled Cybersecurity Talent. Proven Track Record and Diverse Client Portfolio. Strong Relationships with Leading OEMs.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 29.08 | 9.14 | 6.98 |
| Total Income | 30.23 | 15.36 | 7.59 |
| Profit After Tax | 8.40 | 3.24 | 0.94 |
| EBITDA | 12.24 | 4.91 | 1.36 |
| NET Worth | 22.14 | 4.80 | 1.56 |
| Reserves and Surplus | 16.68 | 4.79 | 1.55 |
Key Ratios
EPS
₹5.94
NAV
₹40.55
ROE
62.33%
ROCE
54.25%
RoNW
37.93%
P/B Value
4.76
P/E Ratio
32.51
Market Cap
₹144.36 Cr
PAT Margin
28.18%
Debt/Equity
0.01
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Tac Infosec Limited | 52.71 | 26.1% | 80.4 | 13.77 | 13.63 |
| Sattrix Information Security | 53.72 | 11.08% | 29.64 | 6.27 | 6.27 |
| TechD Cybersecurity Ltd. This IPO | 40.55 | 37.93% | — | 16.44 | 16.44 |
Promoters
Sunny Piyushkumar Vaghela and Vaghela Piyush Rasiklal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in Human resources 26.09 2 Capital Expenditure for setting up Global Security Operation Centre (GSOC) at Ahmedabad 5.89 3 General Corporate Purposes 3.61 4 Issue Expenses 3.40 Total 38.99
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹7.59 Cr in the period ending 31 Mar 2023, rising to ₹15.36 Cr by 31 Mar 2024, and further increasing to ₹30.23 Cr by 31 Mar 2025. This shows a strong upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹0.94 Cr in the period ending 31 Mar 2023, increasing to ₹3.24 Cr by 31 Mar 2024, and further rising to ₹8.40 Cr by 31 Mar 2025. This indicates significant growth in profitability across the periods.
Valuation
TechD Cybersecurity Limited's implied P/E at the issue price of ₹193.0 is approximately 32.51, compared to peers trading at a P/E range of 29.64 to 80.4.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential listing gain of an IPO based on unofficial trading before its official listing. A higher GMP suggests strong demand, while a lower GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential and market position. It's important to consider the overall market conditions and individual financial goals.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid this IPO, as the cybersecurity sector can be volatile and subject to rapid changes in technology and regulation.
IPO Timeline, Explained
The IPO opens on September 15, 2025, and closes on September 17, 2025. Allotment of shares is expected on September 18, 2025, with the listing date set for September 22, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on market conditions, investor sentiment, and the overall performance of the IPO. It's important to remember that while there may be potential for gains, there is also a risk of losses.
This evaluation is generated from TechD Cybersecurity Limited's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is TechD Cybersecurity Limited IPO GMP today?
TechD Cybersecurity Limited IPO GMP today is +₹210.0 (108.81%), indicating an estimated listing price of ₹403. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of TechD Cybersecurity Limited IPO?
The price band of TechD Cybersecurity Limited IPO is ₹183.0–₹193.0 per share.
When does TechD Cybersecurity Limited IPO open and close?
TechD Cybersecurity Limited IPO opens on 15 September 2025 and closes on 17 September 2025.
When does TechD Cybersecurity Limited IPO list on the stock exchange?
TechD Cybersecurity Limited IPO listed on 22 September 2025 at ₹403.0.
What is the lot size for TechD Cybersecurity Limited IPO?
The lot size for TechD Cybersecurity Limited IPO is 600 shares, requiring a minimum investment of ₹231,600 (2 lots).
What is the price band for the TechD Cybersecurity IPO?
The price band for the IPO is ₹183.0 to ₹193.0.
What is the minimum investment amount for this IPO?
The minimum investment amount is ₹231,600.
What is the lot size for the TechD Cybersecurity IPO?
The lot size is 600 shares.
When is the listing date for the IPO?
The listing date is September 22, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing gains based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Sep 2025
Close
17 Sep 2025
Allotment
18 Sep 2025
Listing
22 Sep 2025
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