TechD Cybersecurity, a digital security solutions provider, has concluded its Initial Public Offering (IPO) with overwhelming investor interest, resulting in a staggering 718 times oversubscription. The company is set to finalize its share allotment today, marking a significant milestone in its public market journey.

IPO Details and Subscription Rates

The Rs 38.99 crore IPO, priced in the range of Rs 183-193 per share, offered 20.2 lakh fresh shares. The offering saw extraordinary demand across all investor categories:

The IPO attracted nearly 4.9 lakh total applications, highlighting the strong investor appetite for the cybersecurity firm's shares.

Grey Market Premium and Listing Details

TechD Cybersecurity's shares are currently commanding a substantial grey market premium of 101% or Rs 195 above the issue price of Rs 193. This indicates high expectations for the stock's performance upon listing.

Key dates for investors to note:

• Share allotment to be credited to demat accounts: September 19
• Stock listing scheduled: September 22 on NSE SME

Company Background and Financials

Founded in 2017, TechD Cybersecurity has quickly established itself as a prominent player in the digital security solutions sector. The company boasts an impressive client roster, including major corporations such as Adani Group, Astral, and Zensar Technologies.

TechD's financial performance has been robust:

• Revenue: Rs 30.2 crore
• Profits: Rs 8.4 crore
• Profit growth: 159%

Utilization of IPO Proceeds

The funds raised through the IPO will be allocated towards:

1. Expansion of human resources
2. Establishment of a Global Security Operations Centre in Ahmedabad
3. General corporate purposes

Investor Backing

It's worth noting that TechD Cybersecurity is backed by renowned investor Vijay Kedia, adding to its credibility in the market.

The overwhelming response to TechD Cybersecurity's IPO underscores the growing importance of cybersecurity in today's digital landscape and investors' confidence in the company's potential for growth in this critical sector.

TechD Cybersecurity, a prominent player in the cybersecurity sector, has witnessed an overwhelming response to its Initial Public Offering (IPO) on the second day of bidding. The Rs 40-crore SME IPO has been oversubscribed by 56.90 times, showcasing strong investor interest in the company's shares.

IPO Details

The IPO comprises 20 lakh fresh shares with a price band set between Rs 183-193 per share. The offering is set to close on September 17, with the allotment scheduled for September 18. Investors can expect the shares to be listed on the NSE SME platform on September 22.

Subscription Breakdown

The impressive oversubscription has been driven by strong demand across various investor categories:

Grey Market Premium

The grey market is showing significant enthusiasm for TechD Cybersecurity shares, with a premium of Rs 160 per share. This indicates an estimated listing price of Rs 353, suggesting potential gains for IPO subscribers.

Utilization of IPO Proceeds

The funds raised through this IPO will be allocated to several key areas:

1. Human resources expansion
2. Capital expenditure for a Global Security Operation Centre in Ahmedabad
3. General corporate purposes

Company Profile

TechD Cybersecurity has established itself as a notable player in the cybersecurity industry. The company boasts an impressive client roster that includes prominent names such as:

• Swiggy
• Indian Oil
• Capgemini

These high-profile clients underscore the company's expertise and reliability in providing cybersecurity solutions.

Market Outlook

The strong investor response to TechD Cybersecurity's IPO reflects the growing importance of cybersecurity in today's digital landscape. As businesses and organizations continue to face increasing cyber threats, companies specializing in cybersecurity solutions are likely to see sustained demand for their services.

Investors and market watchers will be keenly observing the company's performance post-listing, as it could set a precedent for other cybersecurity firms considering public offerings in the near future.