TechD Cybersecurity IPO GMP Soars Ahead Of Allotment Today: Check Status, Latest GMP And Listing Date

The initial public offering (IPO) of TechD Cybersecurity Ltd. was oversubscribed 718.3 times on the final day of bidding on September 17. The NSE SME issue received bids for 96,53,61,000 shares against 13,44,000 shares on offer, according to Chittorgarh.com.

The Qualified Institutional Buyers (QIBs) booked their quota 284.17 times, while the Non-Institutional Investors (NIIs) booked the issue 1,279.03 times. The retail portion of the IPO was booked 726 times.

One reason the IPO is generating strong buzz in the market is due to the backing of star investor Vijay Kedia, who holds a roughly 7% stake in TechD Cybersecurity Ltd.

The grey market premium for the IPO has also generated a strong buzz among the investors. The unlisted shares of TechD Cybersecurity were trading at Rs 353 on the final day of the subscription process, an estimated 83% gain over the issue price. The stellar rally in the subscription on the final day saw the GMP soar further. Once the allotment is finalised, and if the GMP trends are sustained, then investors can expect a blockbuster listing when the shares of the company list on NSE SME next week.

The grey market premium (GMP) for the TechD Cybersecurity IPO was Rs 195 per share as of 8:30 a.m. on September 18. The latest GMP indicates an estimated listing price of Rs 388 apiece at a premium of 101.04% 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.

Following the robust subscription, the IPO investors are now looking forward to the finalisation of share allotment status by the company.

TechD Cybersecurity Ltd. is scheduled to finalise the share allotment status for its IPO on September 18. IPO bidders can check the share allotment status on the websites of the NSE and the issue registrar, Purva Sharegistry India.

• Go to the IPO allotment page on the NSE website here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Select ‘Equity & SME IPO bid details’. 

• Choose ‘TECHD’ from the drop-down list for company symbols.

•  Enter PAN and Application Number. 

• Click on the ‘Submit’ button to check the share allotment status.

• Visit the IPO allotment page on the official website of Purva Sharegistry here - https://www.purvashare.com/investor-service/ipo-query.

• Select ‘TechD Cybersecurity Ltd.’ from the list of company names.

• Enter your application number or PAN. 

• Click on the ‘Search’ button. 

• View your allotment details.

It’s essential to note that the share allotment status will be displayed only after the company has finalised the share allocation. Following the finalisation of IPO share allotment, TechD Cybersecurity is expected to initiate refunds and transfer of funds to the Demat accounts on September 19.

Shares of TechD Cybersecurity Limited will list on the NSE SME platform on Monday, September 22.

The TechD Cybersecurity IPO was a book-building issue worth Rs 38.99 crore. The SME issue comprised entirely a fresh issuance of 20 lakh shares.

The price band for the IPO was set between Rs 183 and Rs 193 per share.

Use Of Proceeds

The company plans to use proceeds from the IPO to invest in human resources and to fund capital expenditure for creating a Global Security Operations Centre (GSOC) at Ahmedabad. A portion of the funds will be used for general corporate purposes.

TechD Cybersecurity specialises in providing cybersecurity to its clients. Its customers include Swiggy, Indian Oil and Capgemini. 

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.