TechDefence Labs IPO

₹1,09,800/600 shares

Minimum Investment

IPO Details

Open Date

15 Sep 25

Close Date

17 Sep 25

Minimum Investment

₹1,09,800

Lot Size

600

Price Range

₹183 to ₹193

Listing Exchange

NSE

Issue Size

₹38.99 Cr

Listing Date

22 Sep 25

Open Free Demat Account

TechDefence Labs IPO Timeline

Bidding Start

15 Sep 25

Bidding Ends

17 Sep 25

Allotment Finalisation

18 Sep 25

Refund Initiation

19 Sep 25

Demat Transfer

19 Sep 25

Listing

22 Sep 25

TechD Cybersecurity Limited

Established in January 2017, TechDefence Labs Solutions Limited is a cybersecurity firm dedicated to protecting digital assets for organizations worldwide. The company delivers end-to-end cybersecurity services to help enterprises maintain robust digital security. Its offerings include MSSP solutions, Cyber Program Management, VAPT, compliance services, specialised services, and staff augmentation. Clients like Adani Group, Zensar Technologies, Astral Limited, and IQM Corporation benefit from its solutions. Key services include VAPT for vulnerability mitigation, SOC monitoring, cybersecurity consulting, and domain training through workshops and bootcamps, enhancing overall cyber resilience.

TechD Cybersecurity Limited IPO Overview

TechDefence Labs IPO is a book-built issue worth ₹38.99 crore, comprising entirely a fresh issue of 0.20 crore shares. The IPO opens for subscription on 15 September 2025 and closes on 17 September 2025, with allotment expected on 18 September 2025. It is scheduled to list on NSE SME on 22 September 2025. The price band is ₹183 to ₹193 per share, with a lot size of 600 shares. Retail investors need a minimum investment of ₹2,31,600, while HNIs must invest at least ₹3,47,400. GYR Capital Advisors Pvt. Ltd. is the lead manager, Purva Sharegistry (India) Pvt. Ltd. is the registrar, and Giriraj Stock Broking Pvt. Ltd. is the market maker.

TechD Cybersecurity Limited IPO Details

Particulars	Details
IPO Date	15 September 2025 to 17 September 2025
Listing Date	22 September 2025
Face Value	₹10 per share
Issue Price Band	₹183 to ₹193 per share
Lot Size	600 Shares
Total Issue Size	20,20,200 shares (aggregating up to ₹38.99 Cr)
Fresh Issue	20,20,200 shares (aggregating up to ₹38.99 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	54,59,533 shares
Share Holding Post Issue	74,79,733 shares
Market Maker Portion	1,01,400 shares

TechD Cybersecurity Limited IPO Reservation

Investor Category	Shares Offered
Market Maker	1,01,400 (5.02%)
QIB	9,58,800 (47.46%)
NII (HNI)	2,88,000 (14.26%)
Retail	6,72,000 (33.26%)
Total	20,20,200 (100%)

TechD Cybersecurity Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	1,200	₹2,31,600
Retail (Max)	2	1,200	₹2,31,600
HNI (Min)	3	1,800	₹3,47,400
HNI (Max)	8	4,800	₹9,26,400

TechD Cybersecurity Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	86.61%
Post-Issue	TBD

TechD Cybersecurity Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	16.44
Price/Earnings (P/E) Ratio	16.85 (Post IPO)
Return on Net Worth (RoNW)	37.93%
Net Asset Value (NAV)	40.55
Return on Equity	62.33%
Return on Capital Employed (ROCE)	54.25%
EBITDA Margin	40.48%
PAT Margin	28.18%
Debt to Equity Ratio	0.01

Objectives of the Proceeds

Invest ₹260.92 million in human resources to strengthen talent pool globally.

Spend ₹58.88 million for Capital Expenditure on Global Security Operations Centre.

Utilise remaining funds for general corporate purposes and business expansion.

Key Financials (in ₹ Crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	29.08	9.14	6.98
Revenue	30.23	15.36	7.59
Profit After Tax	8.40	3.24	0.94
Reserves and Surplus	16.68	4.79	1.55
Total Borrowings	0.01	–	–

SWOT Analysis of TechDefence Labs IPO

Strength and Opportunities

Experienced promoters with strong cybersecurity expertise across sectors
Comprehensive end-to-end solutions including MSSP and VAPT services
CERT-In empanelment enhances credibility and regulatory compliance
Continuous supply of skilled cybersecurity professionals ensures service quality
Strong relationships with Fortune 500 clients provide business growth opportunities

Risks and Threats

Highly competitive cybersecurity market with rapid technology changes
Heavy dependence on key clients may impact revenue stability
Expansion into international markets may face regulatory challenges
High operational costs due to talent acquisition and retention
Cybersecurity threats evolve constantly, requiring continuous innovation

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About TechD Cybersecurity Limited

TechD Cybersecurity IPO Strengths

Experienced promoters with proven expertise in global cybersecurity solutions.

Comprehensive service offerings including MSSP, VAPT, SOC, consulting, and training.

CERT-In empanelment enhances credibility and regulatory compliance for clients.

Continuous availability of skilled cybersecurity talent ensures high-quality delivery.

Strong relationships with Fortune 500 clients support business growth and market presence.

TechD Cybersecurity Limited Peer Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
TechD Cybersecurity Ltd.	16.44	16.44	40.55	—	37.93	—
Peer Group
Sattrix Information Security	6.27	6.27	53.72	29.64	11.08	3.11
Tac Infosec Limited	13.77	13.63	52.71	80.40	26.10	21.06

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