TechD Cybersecurity sets IPO price band at Rs 183-193/share; issue to open next week

New Delhi, Sep 9 (PTI) Vijay Kedia-backed TechD Cybersecurity on Tuesday said it has fixed the price band at Rs 183-193 per share for nearly Rs 39-crore IPO which will open for public subscription on September 15.

The initial public offering (IPO) will conclude on September 17. The bidding for anchor investors will open for a day on September 12, according to the red herring prospectus (RHP) filed on Monday.

The public issue is entirely a fresh issue a little over 20.20 lakh equity shares aggregating to Rs 38.99 crore.

Proceeds from the fresh issue to the tune of Rs 26.09 crore will be used towards investment in human resources, Rs 5.89 crore for capital expenditure for setting up global security operation centre at Ahmedabad and balance for general corporate purposes.

"Through this IPO, we aim to accelerate our global expansion into North America, the Middle East, Africa, and Australia, while positioning Gujarat as the cybersecurity capital of India," Sunny Vaghela, Chairman and MD of TechD Cybersecurity, said.

Established in January 2017, TechD Cybersecurity, formerly TechDefence Labs Solutions, is a cybersecurity firm specialising in safeguarding digital assets for organisations worldwide.

It provides a wide range of services, including MSSP solutions, cyber program management, compliance services, specialised services, and staff augmentation to meet diverse client needs.

The company has served more than 470 clients, including Adani Group, Zensar Technologies, Astral, Torrent, Kedia Capital, ETO Gruppe Technologies, and IQM Corporation.

On the financial front, the company reported revenue of Rs 29.8 crore and profit after tax of Rs 8.40 crore in FY25.

The company's shares are proposed to be listed on the NSE's SME platform Emerge.

GYR Capital Advisors is the sole book running lead manager and Purva Sharegistry (India) Pvt Ltd is the registrar for the IPO. PTI HG MR