TechD Cybersecurity IPO Day 2: Check GMP, Subscription Status And More
TechDefence Labs IPO: Check latest GMP, Day 2 subscription status and more.
Vijay Kedia-backed TechD Cybersecurity Ltd., which launched its Rs 40-crore SME initial public offering on Monday, was fully subscribed on Day 1.
The SME IPO was booked close to 13 times, led by demand from retail investors who subscribed the issue over 20 times.
Here's all you need to know about the TechD Cybersecurity IPO as subscription for the mainboard issue enters its second day. Check latest GMP, Day 2 subscription status and more.
TechD Cybersecurity IPO: All You Need To Know
The TechD Cybersecurity IPO is a book-building issue worth Rs 38.99 crore. It comprises an entirely fresh issue of 20 lakh shares.
Of the 20,20,200 shares on offer, 3,84,000 shares have been reserved for Qualified Institutional Investors, 2,88,000 for Non-Institutional Investors and 6,72,000 for Retail investors.
The price band for the TechD Cybersecurity IPO has been set between Rs 183 and Rs 193 per share.
GYR Capital Advisors Ltd. is the book-running lead manager and Purva Sharegistry (India) Ltd. is the registrar of the issue. Giriraj Stock Broking Ltd. is the market maker for the IPO.
The subscription window for the IPO will close on September 17. Allotment of TechD Cybersecurity shares is proposed to be finalised on September 18. The company will transfer shares to the demat accounts of successful bidders on September 19 and refunds to non-allottees will also be processed on the same day.
Shares of TechD Cybersecurity are expected to be listed on the NSE SME platform on September 22.
TechD Cybersecurity IPO Day 2 Subscription Status
The initial public offering (IPO) of TechD Cybersecurity was subscribed 56.90 times as of 2:04 p.m. on Tuesday.
Qualified Institutional Buyers: 7.45 times
Non-Institutional Investors: 87.41 times
Retail investors: 72.08 times
*Subscription status will be updated at regular intervals.
TechD Cybersecurity IPO GMP Today
The grey market premium (GMP) for the TechD Cybersecurity IPO was Rs 160 per share on September 16. The latest GMP indicates an estimated listing price of Rs 353 apiece at a premium of 82.90% over the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Use Of Proceeds
The company will use proceeds from the IPO to invest in human resources, to fund capital expenditure for creating a Global Security Operation Centre (GSOC) at Ahmedabad and for general corporate purposes.
About TechDefence Labs (TechD Cybersecurity)
TechDefence Labs, aka TechD Cybersecurity, specialises in providing cybersecurity to its clients. Its customers include Swiggy, Indian Oil and Capgemini, among others.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
