TechD Cybersecurity aka TechDefense IPO will open on September 15, 2025 and close on September 17, 2025. TechD Cybersecurity IPO is a book-built issue. The company will raise around ₹38.99 crore through this IPO, which comprises of fresh shares of ₹38.99 crore and [.] equity shares with face value of ₹10.
The price band of TechD Cybersecurity IPO is ₹183 to ₹193 per share. Retail share is 35%, QIB 50% and HNI 15%. TechD Cybersecurity IPO will be listed on NSE on September 22, 2025. The allotment date of TechD Cybersecurity IPO is September 18, 2025.
The company recorded a revenue of ₹30.23 crores in 2025, while it was ₹15.36 crores in 2024. The company recorded a profit of ₹8.40 crores in 2025, while it was ₹3.24 crores in 2024. As per the financials, IPO investors should invest in this IPO GMP for the long term.
TechD Cybersecurity IPO Details
| IPO Open Date | September 15, 2025 | |
|---|---|---|
| IPO Close Date | September 17, 2025 | |
| Face Value | ₹10 Per Equity Share | |
| IPO Price Band | ₹183 to ₹193 Per Share | |
| Issue Size | Approx ₹38.99 Crores | |
| Fresh Issue | Approx ₹38.99 Crores | |
| Lot Size | 600 Shares | |
| Issue Type | Book Built Issue | |
| IPO Listing | NSE SME | |
| DRHP Draft Prospectus |  | |
| RHP Draft Prospectus | | |
TechD Cybersecurity Review & Key Points
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TechD Cybersecurity IPO Market Lot
The TechD Cybersecurity IPO minimum market lot is 1,200 shares with ₹2,31,600 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 1,200 | ₹2,31,600 |
| Retail Maximum | 2 | 1,200 | ₹2,31,600 |
| S-HNI Minimum | 3 | 1,800 | ₹3,47,400 |
| S-HNI Maximum | 8 | 4,800 | ₹9,26,400 |
| B-HNI Minimum | 9 | 5,400 | ₹10,42,200 |
IPO Reservation
| Investor Category | Share Offered | % Shares |
| Market Maker Shares Offered | 1,01,400 Shares | 5.02% |
| QIB Shares Offered | 9,58,800 Shares | 47.46% |
| Anchor Investor | 5,74,800 Shares | 28.45% |
| QIB (Ex. Anchor) | 3,84,000 Shares | 19.01% |
| NII Shares Offered | 2,88,000 Shares | 14.26% |
| bNII > ₹10L | 1,92,000 Shares | 9.50% |
| sNII < ₹10L | 96,000 Shares | 4.75% |
| Retail Shares Offered | 6,72,000 Shares | 33.26% |
| Total Shares Offered | 20,20,200 Shares | 100% |
TechD Cybersecurity IPO Anchor Investors
| Anchor Bidding Date | September 12, 2025 |
| Anchor Investors List | |
| Shares Offered | 5,74,800 Shares |
| Anchor Size | 11.09 Cr. |
| lock-in period end date 50% shares (30 Days) | October 18, 2025 |
| lock-in period end date 50% shares (90 Days) | December 17, 2025 |
TechD Cybersecurity IPO Dates
The TechD Cybersecurity IPO date is September 15 and the close date is September 17. The TechD Cybersecurity IPO allotment will be finalized on September 18 and the IPO listing on September 22.
| IPO Open Date: | September 15, 2025 |
| IPO Close Date: | September 17, 2025 |
| Basis of Allotment: | September 18, 2025 |
| Refunds: | September 19, 2025 |
| Credit to Demat Account: | September 19, 2025 |
| IPO Listing Date: | September 22, 2025 |
| IPO Bidding Cut-off Time: | September 17, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Abhiraj Singh Bhal, Raghav Chandra and Varun Khaitan.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 54,59,533 | 86.61% |
| Promoter Holding Post Issue | 74,79,733 | 63.22% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores | % |
| Investment in Human resources | 26.09 | 66.91% |
| Capital Expenditure for setting up Global Security Operation Centre (GSOC) at Ahmedabad | 5.89 | 15.11% |
| General Corporate Purpose | 7.01 | 17.98% |
Financial Report
The company reported revenue of ₹30.23 crores in 2025 against ₹15.36 crores in 2024. The company reported profit of ₹8.40 crores in 2025 against profit of ₹3.24 crores in 2024.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹7.59 | ₹6.32 | ₹0.94 | ₹6.98 |
| 2024 | ₹15.36 | ₹10.96 | ₹3.24 | ₹9.14 |
| 2025 | ₹30.23 | ₹18.87 | ₹8.40 | ₹29.08 |
IPO Valuation – FY2025
Check TechD Cybersecurity IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 62.33% |
| ROCE: | 54.25% |
| EBITDA Margin: | 40.48% |
| PAT Margin: | 28.18% |
| Debt to equity ratio: | 0.01 |
| Earning Per Share (EPS): | ₹16.44 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 37.93% |
| Net Asset Value (NAV): | ₹40.55 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| TAC Infosec Limited | 13.77 | 80.40 | 26.10% | 52.71 | 32.20 Cr. |
| Sattrix Information Security Ltd | 6.27 | 29.64 | 11.08% | 53.72 | 45.07 Cr. |
About TechD Cybersecurity
Since January 2017, TechD Cybersecurity Limited, formerly known as TechDefense Labs, has been focused on a single goal: providing smart and secure cybersecurity services. In addition, the company offers Managed Security Service Provider (MSSP) solutions, Cyber Program Managed Services, Vulnerability Assessment and Penetration Testing (VAPT), Compliance Services, Specialized Services and Employee Augmentation Services to meet the needs of various clients. Its clients include big brands such as Adani Group, Zensar Technologies Limited, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO Group Technologies GmbH and IQM Corporation.
The company also has skilled and experienced founders, promoters and investors, as mentioned below.
Founder and Promoter: Sunny Vaghela, an ethical hacker and Indian entrepreneur with 9 years of experience in IT & Information Security. Mr. Sunny has been leading the training team at TechDefense for over 7 years. They have conducted more than 650 workshops and trained more than 80,000 students and professionals from universities and companies.
One of the key investors, Mr. Vijay Kishanlal Kedia holds 3,93,100 (7.20%) equity shares in Techdi Cybersecurity Limited.
The company has signed a lease and license agreement under which 66,681 sq. ft. area has been leased for 9 years. Out of this, 30,000 sq. ft. area will be developed as PEB structure (Pre-Engineered Building). The construction will be done on the leased land at Survey No. 866/2, 877, T.P. 221, New Science City Road, Opposite Fungrito Game Zone, Ognaj, Ahmedabad at a cost of approximately ₹614.90 lakhs. Moreover, this cost will come from internal funds and the facility will have space for 400 employees.
The company is going to launch an IPO with the aim of spending on human resources (HR) to expand its operations and set up a Global Security Operations Center (GSOC) in Ahmedabad.
In addition, the company plans to invest up to Rs 2,609.23 lakh in human resources, with the aim of growing its business in India and abroad by appointing skilled people in critical departments.
The Global Security Operations Center (GSOC) developed at Ognaj in Ahmedabad will serve as an important hub for 24x7 managed security services. It will provide proactive cybersecurity monitoring, threat intelligence and risk management solutions to customers in India and global markets.