TechD Cybersecurity share price: Stock rises nearly 100% on opening day; here's how much investors made per lot

TechD Cybersecurity share price: Shares of cybersecurity services provider TechD Cybersecurity made a robust debut on the SME platform of the National Stock Exchange on Monday, September 22.

The stock listed at ₹366.70 apiece, reflecting a premium of 90% over the IPO issue price of ₹193 per share.

Minutes into the trading, the scrip further rose 5%, its upper-circuit level, to reach ₹385.

TechD Cybersecurity share price: Here's how much investors made per lot

The minimum investment for an individual investor was 1,200 shares. Investors who received the TechD Cybersecurity IPO allotment made ₹4,40,040 per lot.

The Vijay Kedia-backed TechD Cybersecurity, with a price band of ₹183 to ₹193 per share, aimed to raise ₹38.99 crore exclusively via fresh issuance of more than 14 lakh shares. There is no offer for sale (OFS) component.

The objectives of the offer include setting up a global security operation centre in Gujarat and investing in human resources (HR) and 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," said Sunny Vaghela, Chairman and MD, TechD Cybersecurity.

Established in 2017, TechD Cybersecurity specialises in safeguarding digital assets for organisations worldwide. The firm, which was earlier called TechDefence Labs Solutions, offers services like MSSP solutions, VAPT, cyber programme management, specialised services, compliance services, and staff augmentation.

TechD Cybersecurity shares were listed in line with the grey market premium (GMP) expectations, which had suggested a strong debut.