TechD Cybersecurity IPO fully booked within 20 minutes on day 1; check price band, lot size and key details

TechD Cybersecurity IPO: The initial public offering of Vijay Kedia-backed TechD Cybersecurity Ltd, formerly called TechDefence Labs Solutions, was fully subscribed within minutes of opening for subscription on the first day of bidding on Monday, September 15.

The issue secured bids for 14,56,200 shares compared to 14,45,400 shares on offer, according to the data available on the NSE website until 10:22 am.

The initial share sale is solely a fresh issuance of 20,20,200 equity shares worth ₹38.99 crore. There is no offer-for-sale component.

Proceeds to the tune of ₹26.09 crore will be utilised for investment in human resources, ₹5.89 crore for establishing a global security operation centre at Ahmedabad and the balance for general corporate purposes.

TechD Cybersecurity IPO price band and lot size

The price band for the IPO, which will conclude on September 17, has been fixed at ₹183 to ₹193 per share.

A lot consists of 600 shares, and the minimum investment for an individual investor is two lots or 1,200 shares.

TechD Cybersecurity IPO timeline: Allotment and listing dates

TechD Cybersecurity, established in January 2017, is a cybersecurity company specialising in protecting digital assets for organisations worldwide.

It provides an array of services, including MSSP solutions, compliance services, cyber programme management, specialised services, and staff augmentation to meet diverse client needs.

It has served over 470 clients, including Adani Group, Astral, Zensar Technologies, Torrent, ETO Gruppe Technologies, Kedia Capital, and IQM Corporation.

Sunny Vaghela, Chairman and MD of TechD Cybersecurity, said, "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."

TechD Cybersecurity IPO GMP

According to media reports and investorgain.com, unlisted shares of TechD Cybersecurity Ltd are trading at ₹353 per share, reflecting a grey market premium of 82.90% over the upper price band of ₹193.