TechD Cybersecurity Limited is launching an IPO with a total offering of 20,20,200 equity shares, each with a face value of ₹10. This includes a fresh issue of 20,20,200 shares, of which 1,01,400 shares are reserved for Market Maker (Giriraj Stock Broking Private Limited). The company plans to use the funds raised for enhancing human resources, establishing a Global Security Operations Centre (GSOC) in Ahmedabad, and addressing general corporate needs.

TechD Cybersecurity Ltd IPO – Important Dates

TechD Cybersecurity Ltd IPO Date	September 15, 2025, to September 17, 2025.
TechD Cybersecurity Ltd IPO Listing Date	September 22, 2025
TechD Cybersecurity Ltd IPO Price	₹183 to ₹193 per share
TechD Cybersecurity Ltd IPO Lot Size	600 Shares
TechD Cybersecurity Ltd IPO Total Issue Size	20,20,200 shares
TechD Cybersecurity Ltd IPO Basis of Allotment	September 18, 2025
TechD Cybersecurity Ltd IPO Initiation of Refunds	September 19, 2025
TechD Cybersecurity Ltd IPO Credit of Shares to Demat	September 19, 2025
TechD Cybersecurity Ltd IPO Issue Type	Bookbuilding IPO
TechD Cybersecurity Ltd IPO Listing At	NSE SME

TechD Cybersecurity Ltd IPO – Company Profile

TechD Cybersecurity Ltd, originally incorporated in 2017 as TechDefence Labs Solutions, rebranded to its current name in 2025. Headquartered in Ahmedabad, the company is promoted by Mr.Sunny Piyushkumar Vaghela and Mr.Vaghela Piyush Rasiklal.

The company provides a wide range of cybersecurity services, including managed security, cyber program management, vulnerability assessment and penetration testing (VAPT), compliance, specialised services, and staff augmentation, helping businesses safeguard digital assets and counter emerging threats.

It serves a diverse client base comprising well-known corporates such as Adani Group, Zensar Technologies, Astral, and Torrent. With around 126 employees and certifications like ISO-27001 and CERT-In empanelment, TechD Cybersecurity has established strong credibility in the cybersecurity domain.

TechD Cybersecurity Ltd IPO Fundamental Analysis 

TechD Cybersecurity Limited’s financial analysis reveals a growing performance. Revenue has increased, along with an increase in profitability. There is an increase in the EPS, and a decline in RoCE, along with asset growth and rising liabilities, indicating potential operational efficiency.

1. Revenue Trend: The company has reported strong topline growth, with revenue almost doubling from ₹1,506.90 lakhs in March 2024 to ₹2,979.52 lakhs in March 2025. This reflects rising demand for its services and the ability to scale operations effectively.
   
2. Equity and Liabilities: Shareholders’ equity has shown steady growth across reporting periods, pointing towards financial stability and the capacity to reinvest in expansion. The increase suggests that retained earnings and internal accruals are supporting the company’s capital structure.
   
3. Profitability: Profit after tax (PAT) has significantly improved, rising from ₹324.12 lakh in March 2024 to ₹839.61 lakh in March 2025. This demonstrates enhanced cost efficiency, higher revenue conversion, and stronger bottom-line performance.
   
4. Earnings per Share (EPS): The basic EPS has more than doubled, increasing from ₹6.82 in March 2024 to ₹16.44 in March 2025. This growth indicates that shareholders are receiving greater value per share, driven by improved profitability and effective capital utilization.
   
5. Return on Capital Employed (RoCE): The RoCE has moderated from 72.07% to 54.25%, signaling a decline in returns generated on the total capital employed. While still strong, the decline suggests that the company’s efficiency in using capital has slightly reduced, possibly due to higher investments for expansion.
   
6. Financial Position: The total assets of the company have increased, underscoring expansion and capacity building. At the same time, the debt-to-equity ratio has decreased, reflecting lower reliance on debt financing and improved financial leverage, which strengthens the company’s ability to meet obligations and enhances overall financial resilience.

TechD Cybersecurity Ltd IPO Financial Analysis

Particular	As of 31 March 2023	As of 31 March 2024	As of 31 March 2025
Revenue From Operations (₹ in lakh)	755.78	1,506.90	2,979.52
Total Income (₹ in lakh)	758.51	1,535.78	3,022.65
EBITDA (₹in lakh)	135.62	490.88	1,223.57
Net asset value per Equity Share (in ₹)	3.29	10.11	40.55
Profit after Tax (₹ in lakh)	94.11	324.12	839.61
Earnings per Share (EPS)	1.98	6.82	16.44
Return on Equity (%)	86.35%	101.89%	62.33%
Return on Capital Employed (%)	40.29%	72.07%	54.25%
Debt Equity Ratio	1.05	0.38	0.01
EBITDA Margin	17.88%	31.96%	40.48%

TechD Cybersecurity Ltd IPO Peer Comparison

TechD Cybersecurity reflects strong earnings and the highest return on net worth among its peers, showcasing efficient utilization of equity capital despite comparatively lower revenues. TAC Infosec Limited commands the highest market valuation relative to its earnings, indicating strong investor confidence. Sattrix Information Security Ltd, on the other hand, leads in revenue, supported by a stable asset base and balanced financial performance.

Company	Total Revenue (₹ in lakh)	Face Value per Equity Share (₹)	P/E Ratio	Basic EPS (₹)	RONW (%)	NAV perequityShare (₹)
TechD Cybersecurity Ltd	3,022.65	10.00	–	16.44	37.93%	40.55
TAC Infosec Limited	3,220.00	10.00	80.40	13.77	26.10%	52.71
Sattrix Information Security Ltd	4,506.75	10.00	29.64	6.27	11.08%	53.72

TechD Cybersecurity Ltd IPO Objective

The main objective of TechD Cybersecurity Ltd is to utilise the Net Proceeds from the Issue for strengthening human resources, setting up a Global Security Operations Centre (GSOC) in Ahmedabad, and meeting general corporate purposes.

1. For strengthening human resource capabilities: The company emphasizes the importance of a skilled workforce to address evolving cyber threats. It plans to invest in human resources by hiring and training key personnel, strengthening Security Operations Centers, and enhancing customer engagement, with an estimated cost of ₹2,609.23 lakhs.
   
2. For capital investment for establishing a Global Security Operations Centre (GSOC) in Ahmedabad: The company plans to relocate to a new leased office in Ahmedabad, which will function as its Global Security Operations Centre (GSOC) and serve as a hub for 24/7 cybersecurity monitoring and client support. The facility, designed to accommodate 400 employees with modern infrastructure and advanced security systems, will require a capital expenditure of ₹588.82 lakhs to be funded from the Net Issue Proceeds.

3. To meet general corporate requirements: The Company proposes to deploy the balance proceeds towards general corporate purposes as approved by its management from time to time, subject to such utilisation not exceeding 15% of the total issue size or Rs 10 crore, whichever is lower of the amount raised by our Company from the Fresh Issue, in compliance with the SEBI ICDR Regulations.

TechD Cybersecurity Ltd IPO Risks And Challenges

TechD Cybersecurity Ltd faces key business challenges such as dependence on maintaining and expanding the client base, rising employee costs impacting profitability, exposure to evolving data protection regulations, vulnerability to cybersecurity breaches and fraud, and reliance on promoters and key managerial personnel for business stability.

• The company’s business, financial condition, cash flows, and operating results could be adversely affected if it fails to maintain and expand its existing client base.

• As the industry is highly employee-intensive, employee benefit expenses form a significant portion of overall costs. Any sharp increase in these expenses may reduce profitability.

• The business is exposed to evolving laws on privacy, data protection, and related areas. Regulatory changes may result in higher compliance costs, penalties, altered business practices, or reduced customer engagement.

• Security breaches, fraud, or failures in software, data, and network infrastructure could severely damage business operations and reputation.

• The knowledge and experience of the promoters and key managerial personnel are critical to the company’s success. Their loss or inability to attract and retain leadership talent could negatively impact operations and financial stability.

TechD Cybersecurity Ltd IPO – Industry & Market Potential

The global cybersecurity market is expected to expand rapidly, driven by rising threats, digital adoption, cloud migration, and tighter regulations. By 2030, the market could cross USD 400 billion, growing at a double-digit CAGR. In India, demand is strong across BFSI, IT/ITeS, manufacturing, and government, with domestic spending projected to rise sharply as organizations focus on data protection and compliance.

TechD Cybersecurity is well-positioned to serve this demand, catering to SMEs, co-operative banks, fintechs, SEBI-registered entities, and large corporates. Its offerings in managed security services, cyber program management, VAPT, compliance, and staff augmentation address gaps created by the shortage of cybersecurity talent. The company also aims to expand into international markets, including North America, the Middle East, Africa, and Australia.

Industry growth is being driven by regulatory initiatives, digital transformation, and increasing awareness of cyber risks. TechD’s certifications, established client base, and plans to set up a Global Security Operations Center further enhance its market positioning.

TechD Cybersecurity Ltd IPO – Type of Offer

TechD Cybersecurity Limited plans to issue 20,20,200 equity shares of face value ₹10/- each, which includes fresh issue of 20,20,200 equity shares of face value ₹10/- each of which 1,01,400 shares are reserved for Market Maker (Giriraj Stock Broking Private Limited) for strengthening human resources, setting up a Global Security Operations Centre (GSOC) in Ahmedabad, and meeting general corporate purposes.

1. Fresh Issue: The company will issue 20,20,200 new shares of face value ₹10/- each to raise capital. The company intends to utilise the proceeds from the fresh issue for enhancing human resources, establishing a Global Security Operations Centre (GSOC) in Ahmedabad, and addressing general corporate needs.

TechD Cybersecurity Ltd IPO Offer Size

The offer size of TechD Cybersecurity Limited IPO is 20,20,200 equity shares, each with a face value of ₹10. This includes a fresh issue of 20,20,200 shares, of which 1,01,400 shares are reserved for Market Maker (Giriraj Stock Broking Private Limited). The company plans to deploy the proceeds towards enhancing its workforce, establishing a Global Security Operations Centre (GSOC) in Ahmedabad, and addressing general corporate needs.

TechD Cybersecurity Ltd IPO Allotment Structure

TechD Cybersecurity Ltd allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations.

● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.

● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs. 2 lakhs.

● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.

How to apply for the TechD Cybersecurity Ltd IPO?

To apply for the TechD Cybersecurity Limited IPO through Alice Blue, follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

1. Check for IPO Details: Once your account is active, you can check for the TechD Cybersecurity Limited IPO details in the IPO section of the Alice Blue platform.
2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
3. Submit the Application: Confirm all your details and submit your application.

You can apply for the TechD Cybersecurity Limited IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

How do you check TechD Cybersecurity Ltd IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the TechD Cybersecurity IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the TechD Cybersecurity Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

 If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance. 

Apart from Alice Blue, there are other ways to check the allotment status of the TechD Cybersecurity Limited IPO:

● Registrar’s Website: Visit the website of Purva Sharegistry (India) Private Limited, the registrar of the TechD Cybersecurity IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status. 

● BSE NSE: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). You would need your application number and PAN to check the status. 

Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.

TechD Cybersecurity Ltd IPO Offer Registrar

The registrar for the TechD Cybersecurity Limited IPO is Purva Sharegistry (India) Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.

Contact information for the registrar:

Purva Sharegistry (India) Private Limited.

9 Shiv Shakti Industrial Estate, J.R. Boricha Marg,

Lower Parel (East), Mumbai- 400011,

Maharashtra.

Tel.: +91 022 4961 4132

Email: [email protected]

TechD Cybersecurity Ltd IPO – FAQs

Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.