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Mumbai: In one of the most talked-about listings of the year, TechD Cybersecurity Ltd, backed by ace investor Vijay Kedia, made a stellar debut on the NSE Emerge platform. The company’s shares listed at ₹366.70 per share, a massive 90% premium over the IPO issue price of ₹193 per share.
This successful debut highlights the growing appetite of investors for cybersecurity companies in India’s booming digital economy.
Grey Market Premium vs Actual Listing
Ahead of its debut, TechD Cybersecurity’s shares were commanding a grey market premium (GMP) of nearly 109%, with unlisted shares trading around ₹403 per share, according to data from Investorgain. While the actual listing price of ₹366.70 fell short of GMP expectations, it still delivered handsome gains for investors on the very first day.
Record-Breaking Subscription
The IPO of TechD Cybersecurity created waves in the SME segment with subscription numbers rarely seen before.
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The issue was subscribed 668 times its offer size during the public bidding window between September 15 and September 17.
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The IPO price band was set at ₹183–₹193 per share.
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Investors were required to bid for a minimum of 600 shares, amounting to an investment of nearly ₹1.16 lakh, and in multiples thereafter.
The overwhelming response clearly reflected investor confidence in the company’s growth prospects, particularly in the rapidly expanding cybersecurity domain.
IPO Utilization: Focus on Growth and Infrastructure
The company has outlined a detailed roadmap for the utilization of IPO proceeds:
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₹26.09 crore allocated towards human resources investment, a critical factor for scaling operations.
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₹5.9 crore earmarked for establishing a Global Security Operation Centre (GSOC) in Ahmedabad.
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The remaining proceeds will be utilized for general corporate purposes, ensuring financial flexibility for the company’s expansion.
This strategic allocation demonstrates TechD Cybersecurity’s focus on strengthening both its manpower and technological infrastructure, which are vital in the cybersecurity sector.
Strong Backing and Market Sentiment
TechD Cybersecurity gained added investor attention due to its association with renowned investor Vijay Kedia, whose past track record of identifying multi-baggers has made him a respected name in Dalal Street circles.
Market analysts believe the company’s strong fundamentals, niche positioning in cybersecurity, and robust demand for digital security solutions played a key role in the IPO’s success.
Sectoral Outlook
With the rise of digitalization, AI adoption, cloud services, and data protection norms, demand for cybersecurity solutions has skyrocketed globally. India, with its rapidly digitizing economy, presents a particularly strong growth market.
Industry experts estimate that India’s cybersecurity market will grow at a CAGR of 15–18% over the next five years, creating enormous opportunities for firms like TechD Cybersecurity.
Other Market Movements
While TechD Cybersecurity celebrated its bumper listing, other sectors faced turbulence:
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Shares of Avanti Feeds and Apex Frozen Foods slipped up to 3% after U.S. senators proposed the India Shrimp Tariff Act.
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The Nifty IT Index declined by 3% amid concerns over H-1B visa restrictions, weighing down the broader market sentiment.
This divergence highlighted the contrasting trends across sectors — while IT and seafood exporters struggled, new-age sectors like cybersecurity continued to attract bullish investor interest.
GYR Capital Advisors acted as the merchant banker for the TechD Cybersecurity IPO, ensuring smooth execution of the fundraising and listing process.
TechD Cybersecurity’s debut on the NSE Emerge has reinforced the narrative that cybersecurity is among the hottest investment themes in India today. Despite listing slightly below grey market expectations, the 90% premium has rewarded investors handsomely.
With its ambitious plans to invest in human resources, set up a state-of-the-art GSOC, and leverage India’s growing demand for digital security, TechD Cybersecurity is expected to remain on the radar of both retail and institutional investors.
If the company delivers on its growth roadmap, it could emerge as a strong player not only in the SME segment but also as a future contender for mainboard listing.
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