Vijay Kedia-Backed TechD Cybersecurity IPO To Open Next Week: Check Price Band, Key Dates And More

Vijay Kedia-backed TechD Cybersecurity Ltd. is all set to launch its Rs 40-crore SME initial public offering next week. The company has fixed a price band of Rs 183-193 per share, where investors can bid for 600 shares in one lot.

The IPO will open for public subscription on Sept. 15 and close on Sept. 17. The bidding for anchor investors will open for a day on Sept. 12, according to the red herring prospectus.

The public issue is entirely a fresh issue of a little over 20.20 lakh equity shares aggregating to Rs 38.99 crore. The shares will be listed on the NSE's SME platform Emerge.

GYR Capital Advisors is the sole book-running lead manager and Purva Sharegistry (India) Pvt Ltd is the registrar for the IPO.

TechD Cybersecurity, formerly TechDefence Labs Solutions, is a cybersecurity firm specialising in safeguarding digital assets for organisations worldwide established in January 2017. The company offers solutions for end-to-end services to enterprises to help businesses stay secure in the digital world.

The company provides a wide range of services, including MSSP solutions, Cyber Program Management, VAPT, Compliance Services, Specialised Services, and Staff Augmentation to meet diverse client needs.

The proceeds from the fresh issue to the tune of Rs 26.09 crore will be used towards investment in human resources, Rs 5.89 crore for capital expenditure for setting up global security operation centre at Ahmedabad and balance for general corporate purposes.

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