Vijay Kedia-backed TechD Cybersecurity Ltd., which launched its Rs 40-crore SME initial public offering on Monday, will close for subscription on September 17.
The SME IPO was oversubscribed 13 times on Day 1and 95 times on Day 2, driven by demand from non-institutional and retail investors. The IPO was booked over 700 times on Wednesday.
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.
Here's all you need to know about the TechD Cybersecurity IPO as subscription for the mainboard issue enters its final day. Check latest GMP, Day 3 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.
TechD Cybersecurity IPO Day 3 Subscription Status
The initial public offering (IPO) of TechD Cybersecurity was subscribed over 717.22 times as of 4:40 p.m. on Wednesday.
Qualified Institutional Buyers: 284.17 times
Non-Institutional Investors: 1278.69 times
Retail investors: 724.04 times
Investors have bid for 96,39,39,000 shares against the 13,44,000 on offer.
*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 185 as of 4:00 p.m. per share on September 17. The latest GMP indicates an estimated listing price of Rs 378 apiece at a premium of 95.85% over the upper limit of the IPO price band.
The grey market premium trends have remained consistent at Rs 160 since the IPO opened for subscription on September 15, before climbing on the final day of subscription. Investors can expect a bumper listing when the SME IPO lists on the stock market next week.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
TechD Cybersecurity IPO Allotment And Listing Date
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.
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.
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