Vijay Kedia-Backed TechD Cybersecurity IPO Day 1: Check GMP, Subscription Status And More
The price band for the TechDefence Labs IPO has been fixed between Rs 183 and Rs 193 per share.
Vijay Kedia-backed TechD Cybersecurity Ltd. launched its Rs 40-crore SME initial public offering on Monday, September 15. The TechDefence Labs IPO is a book-building issue worth Rs 38.99 crore. It comprises an entirely fresh issue of 20 lakh shares.
Retail investors can participate by bidding for two lots comprising 1,200 shares in total, requiring an investment of Rs 2,31,600. High Net-Worth Individuals need to bid for three lots, amounting to an investment of Rs 3,47,400.
The price band for the IPO has been set between Rs 183 and Rs 193 per share.
The bidding for anchor investors opened for a day on September 12, according to the red herring prospectus.
TechD Cybersecurity IPO Day 1 Subscription Status
The initial public offering (IPO) of TechDefence Labs IPO was subscribed 8.17 times on the first day of bidding as of 2:34 p.m. on September 15. The SME IPO received bids for 89,43,600 shares against 1,09,86,000 shares on offer, as per NSE data.
Qualified Institutional Buyers (QIBs) subscribed their category 0.43 times and Non-Institutional Investors booked the issue 8.67 times. The retail quota was booked 12.39 times.
TechD Cybersecurity IPO GMP Today
The grey market premium (GMP) for the TechDefence Labs IPO was Rs 160 per share as of 1:30 p.m. on September 15. 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.
TechD Cybersecurity IPO Important Dates
The subscription window closes on September 17. Allotment of 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 TechDefence Labs are expected to be listed on the NSE SME platform on September 22.
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.
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.
