TechD Cybersecurity IPO: The initial public offering (IPO) of TechD Cybersecurity, wherein ace investor Vijay Kedia holds a stake, opened for bidding on Monday, September 15, witnessing a solid response from investors. The issue was massively oversubscribed within a few hours of opening.
The strong buzz for the SME IPO can be attributed to Vijay Kedia holding a 7.2% stake along with a solid grey market premium (GMP).
However, investors have the window to apply for TechD Cybersecurity IPO till Wednesday, September 17.
TechD Cybersecurity IPO Subscription Status
TechD Cybersecurity IPO was booked 6.44 times as of 1.30 pm on the first day of the bidding process. The retail portion of the IPO was booked 9.96 times, the non-institutional investor (NII) portion was subscribed 6.78 times and lastly, the qualified institutional buyer (QIB) quota was booked 0.02 times.
TechD Cybersecurity IPO GMP
TechD Cybersecurity IPO GMP today held steady over the last few days at ₹160. At the upper end of the price band and prevailing GMP, the listing price for TechD Cybersecurity IPO could be ₹353.
This means TechD Cybersecurity shares could debut at a premium of 83% over the issue price.
TechD Cybersecurity IPO Details
The ₹38.99 crore IPO is entirely a fresh issue of 0.20 crore shares, with no offer-for-sale (OFS) component.
TechDefence Labs IPO is priced at ₹183-193 per share. Investors can apply for the IPO in lots of 600 shares. Meanwhile, retail investors need to apply for a minimum of two lots, needing an investment of ₹2,31,600 at the upper end of the IPO price band.
The funds raised from the IPO will be used to invest in human resources, capex for setting up a global security operations centre (GSOC) in Gujarat and for general corporate needs.
TechDefence Labs IPO will list on NSE SME with a tentative listing date fixed as September 22.
TechDefence Labs is a customer-centric cybersecurity solutions provider delivering end-to-end services to enterprises to help businesses stay secure in the digital world. It offers a comprehensive range of services, including Managed Security Services Provider (MSSP) solutions, Cyber Program Managed Services, Vulnerability Assessment and Penetration Testing (VAPT), Compliance Services, Specialised Services and Staff Augmentation Services tailored to meet diverse client needs.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
