TechD Cybersecurity IPO Fully Subscribed Within Hours of Opening

Ahmedabad, September 15 – TechD Cybersecurity Limited’s IPO initial public offering of ₹39 crore witnessed a massive interest and was fully subscribed within hours on the first day of bidding. By the close of trading at 3:30 p.m., investors had put in bids for 1.33 crore shares against the issue size of 13.44 lakh shares, which translates to a subscription of 9.96 times.

The offer price for the company’s IPO was in the band of ₹183 to ₹193 per share, and investors went very aggressively for the upper cap of the issue price. This indicates strong investor confidence in the growth opportunity presented through their subscription to the public offering of the cybersecurity firm.

Category-Wise Subscription Trends

The subscription data demonstrated that retail investors were proactive, having individual investors bid 15.51 times the shares allocated to them, with +1.04 crore bids.

Non-institutional investors were substantial, with subscriptions 11.43 times the available amount in their portion, drawing claims from both large and small segment investors.

On the contrary, qualified institutional buyers were more muted, with just one domestic financial institution applying for the subscription amount, resulting in a 0.43x domestic financial institution subscription.

Importantly, the Anchor investor allocation had been completely subscribed the day before the relevant date.

Anchor Allotment Backing

Before launching its IPO, TechD Cybersecurity raised ₹11.09 crore from anchor investors by allotting 5.74 lakh shares at ₹193 a share. A large portion of the anchor allotment was allocated to Nine Alps Trust – Nine Alps Opportunity Fund, which received 81.5% of the anchor book. Vira AIF Trust and North Star Opportunities Fund received the remainder. The anchor placement is a good result for added institutional credibility and momentum going into the public issue.

Objectives of the Issue

The net proceeds of the offering will be used for strategic growth. The largest portion will be used for Human Resources to support the rapid business growth: ₹260.92 million. After that, we will spend ₹58.88 million on capital expenses to put in a Global Security Operation Centre (GSOC) in Ahmedabad. The other proceeds will be for general corporate purposes.

Financial Performance

The firm demonstrated solid financial performance, with total income nearly doubling from ₹15.36 crore in FY24 to ₹30.23 crore in FY25. Profit after tax increased by 159 % year-on-year to ₹8.40 crore in FY25. The firm’s net worth increased to ₹22.14 crore as of March 2025 due to growing reserves and steady profitability, suggesting that the company is on a solid financial footing for future growth.

Company Profile and Operations

Originally incorporated in 2017 as Techdefence Labs Solutions, TechD Cybersecurity has developed into a full-service cybersecurity company offering managed security services, compliance services, vulnerability assessments, penetration testing, and digital forensics. CERT-In empanels TechD Cybersecurity, which holds ISO 27001 certification. The company’s clients include leading organisations such as the Adani Group, Zensar Technologies, Astral Limited, and companies and organisations in sectors such as BFSI, manufacturing, healthcare, aviation and the government.

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