For investors, it can be quite challenging to decide if the TechD Cybersecurity IPO is a good investment or not. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we bring you the top key factors and a detailed review of the TechD Cybersecurity, aka TechDefence IPO. This will help you analyze the strengths, risks, and financial details of the TechD Cybersecurity aka TechDefence, making your investment decision better.
TechD Cybersecurity IPO Review
| Reviewer | Recommendation |
| IPO Watch | May Apply |
| Dalal & Broacha Stock Broking | Subscribe for Listing Gains |
| Arihant Capital Markets Ltd | Subscribe |
| Chandrakala Broking Services | Apply |
| Minerva Capital | May Subscribe |
| Kunvarji Wealth Solutions | Subscribe with long term view |
| Master Capital Services | Subscribe with long term view |
| Scoop Investment | Subscribe for Long Term |
| Suresh Rathi Group | Subscribe for Listing Gains |
About Company
TechD CuberSecurity Limited, previously known as TechDefence Labs, incorporated in January 2017, is one of the growing companies known to offer smart and secure cybersecurity services. Their services are made to help firms stay secure in the digital world. The company’s portfolio comprises Managed Security Services Provider (MSSP) solutions, Cyber Program Managed Services, Vulnerability Assessment and Penetration Testing (VAPT), Compliance Services, Specialized Services, and Staff Augmentation Services to meet diverse client needs.
Sunny Vaghela, who has 15 years of experience in the IT & information Security, is the founder and promoter of the company, is an Ethical Hacker, and an Indian Entrepreneur. For 7 years, Mr. Sunny has been handling the training team at Techdefence by conducting more than 650 workshops and training 80,000+ students and professionals from universities and companies.
Strengths
- The company comprises qualified and Experienced Promoters and Management.
- The partnership with CERT-In gives us a strong competitive edge, enhancing client trust and compliance, especially in regulated sectors like BFSI, NBFC, and government.
- TechD Cybersecurity partnered with various industries and an in-house training program, which helps them maintain a continuous Supply of Skilled Cybersecurity Talent.
- Over the years, the company has established a long-lasting presence in the cybersecurity space with a diverse client portfolio.
Weaknesses
- If the company is not able to maintain or expand its client base, it can lead to a loss in revenue, cash flow, and financial condition.
- The reason behind the company’s growth is the skilled professionals, meaning that if the company is not able to attract or hire skilled professionals or technical personnel, it can badly impact the company.
- TechD Cybersecurity mostly generates its revenue from customers in Gujarat and Maharashtra. Any issues that occur in those states can badly affect the financial results and future growth.
- Our past performance may not necessarily reflect the Company’s future growth or results.
TechD Cybersecurity aka TechDefence IPO Details
| IPO Open Date: | September 15, 2025 |
| IPO Close Date: | September 17, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹183 to ₹193 Per Share |
| Issue Size: | Approx ₹38.99 Crores |
| Fresh Issue: | Approx ₹38.99 Crores |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| IPO Lead Managers | GYR Capital Advisors Pvt.Ltd. |
| Basis of Allotment | September 18, 2025 |
| IPO Listing Date: | September 22, 2025 |
| Listing | NSE SME |
Key Indicators of the Company
| Key Indicators | Value |
| PE Ratio | 32.51 |
| EPS | 5.94 |
| RoNW | 37.93% |
| ROCE | 54.25% |
| ROE | 62.33% |
| EBITDA Margin | 40.48% |
| Price to Book Value | 4.76 |
| Market Capitalisation | ₹144.36 |
Peer Comparison with the Company
| Name of the Company | CMP(₹) | EPS(₹) | Face Value (₹) | P/E Ratio | RoNW (%) | NAV Per Share | Total Income (₹ in Cr.) |
| TechD Cybersecurity | [●] | 16.44 | 10 | [●] | 37.93% | 40.55 | 30.23 |
| TAC Infosec Limited | 1,095. 85 | 13.77 | 10 | 80.4 | 26.10% | 52.71 | 32.20 |
| Sattrix Information Security Ltd | 185.85 | 6.27 | 2 | 29.64 | 11.08% | 53.72 | 45.07 |
Promoters & Track Records, if any
- Sunny Vaghela is the promoter, Chairman, and Managing Director of the Company, aged about 38 years. Sunny Vaghela holds 47,04,650 equity shares in the company, representing 86.17% of the Pre-issue Equity Share Capital in the company.
- Vaghela Piyush Rasiklal is the promoter and Executive Director of the company, aged 70 years. Piyush Vaghela holds 23,750 equity shares in the company, representing 0.44% of the Pre-issue equity share capital in the company.
Information on Industry’s P/E Ratio
The company TechD Cybersecurity, aka TechDefence’s P/E ratio, is not provided in the RHP. However, let’s check out the industry’s P/E ratio to understand it more. The industry peer group shows a P/E ratio ranging from 29.64 (lowest) to 80.40 (highest), with an average of 55.02.
Expansion
- The proceeds raised from the fresh issue will be used for the investment in Human Resources.
- Some funds will be utilized for setting up the Global Security Operation Centre (GSOC) at Ahmedabad.
- Lastly, the remaining funds will be utilized for the company’s general corporate purposes.
TechD Cybersecurity aka TechDefence IPO – Should You Apply or Not?
The qualified and experienced promoters & Management, Integrated Cyber security Service Offering, CERT-In empanelment, development of GSOC in Gujarat, diversified client portfolio, and health financial progress make TechD Cybersecurity company a great choice to invest in. However, the dependence on a few vendors and a few industries and reliance on OEM Partners for their MSSP Service are some of the risk factors the company must keep in mind.
As of September 12, the Grey Market Premium (GMP) of TechD Cybersecurity stands at ₹151 against the IPO price of ₹193. This indicates that the IPO is expected to list at around ₹344, reflecting a premium of approximately 78.23%.
Those with a higher tolerance for risk can apply for this IPO, and cautious investors must carefully analyze the company’s financial background, risks, strengths, and strategies before applying to it.
Please Note:
This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
