TechD Cybersecurity Makes Spectacular Debut with 99.48% Premium, Lists at ₹385 Following Exceptional Subscription

TechDefence Labs Limited, the cybersecurity solutions provider, made an outstanding debut on NSE SME on September 22, 2025. After closing its IPO bidding between September 15-17, 2025, the company commenced trading with a remarkable 99.48% premium, opening at ₹366.70 and reaching ₹385, significantly exceeding the issue price of ₹193 and reflecting exceptional investor confidence in the cybersecurity sector.

TechDefence Labs Listing Details

TechDefence Labs Limited launched its IPO at ₹193 per share with a minimum investment of 1,200 shares costing ₹2,31,600. The IPO received a phenomenal response with a subscription of 718.30 times - retail investors at outstanding 726.06 times, NII at exceptional 1,279.03 times, and QIB at strong 284.17 times, indicating overwhelming investor enthusiasm across all categories.

First-Day Trading Performance Outlook

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• Listing Price: TechDefence Labs share price opened at ₹366.70 on NSE SME and touched ₹385, representing premiums of 90% and 99.48% respectively from the issue price of ₹193, delivering exceptional gains for investors.

Growth Drivers and Challenges

Growth Drivers: 

• Cybersecurity Market Leadership: Comprehensive cybersecurity solutions provider offering VAPT, SOC services, compliance consulting, and staff augmentation with CERT-In empanelment serving prestigious clients including Adani Group, Zensar Technologies, and Astral Limited.
• Exceptional Financial Growth: Revenue surged 97% to ₹30.23 crore in FY25 with PAT rising 159% to ₹8.40 crore, demonstrating rapid business scaling and strong market demand for cybersecurity services amid increasing digital threats.
• Outstanding Profitability Metrics: Exceptional ROE of 62.33%, impressive ROCE of 54.25%, minimal debt-to-equity ratio of 0.01, healthy PAT margin of 28.18%, and robust EBITDA margin of 40.48% indicating superior operational efficiency.

Challenges:

• High Valuation Multiples: Spectacular listing premium reflects aggressive valuation requiring sustained exceptional growth execution to justify elevated market expectations and investor confidence in the cybersecurity sector.
• Talent Acquisition Intensity: The Cybersecurity industry is facing a severe talent shortage requiring significant investment in human resources, training programs, and retention strategies to maintain a competitive advantage.
• Competitive Market Dynamics: Growing cybersecurity market attracting established players and new entrants requiring differentiation strategies, client relationship management, and service excellence maintenance.

Utilisation of IPO Proceeds

Human Resource Investment: ₹26.09 crore for investment in human resources supporting talent acquisition, retention, and skill development in specialised cybersecurity domains and emerging technologies.
Infrastructure Development: ₹5.89 crore for capital expenditure towards setting up the Global Security Operation Centre (GSOC) at Ahmedabad, enhancing global service delivery and monitoring capabilities.
General Corporate Purposes: Supporting business operations, strategic partnerships, technology investments, and expansion activities for long-term growth in the cybersecurity market.

Financial Performance of TechDefence Labs

• Revenue: ₹30.23 crore for FY25, showing exceptional growth of 97% from ₹15.36 crore in FY24, reflecting strong demand for cybersecurity solutions and successful business execution.
• Net Profit: ₹8.40 crore in FY25, representing a remarkable growth of 159% from ₹3.24 crore in FY24, indicating substantial operational leverage and margin expansion benefits.
• Financial Metrics: Exceptional ROE of 62.33%, impressive ROCE of 54.25%, minimal debt-to-equity ratio of 0.01, healthy PAT margin of 28.18%, robust EBITDA margin of 40.48%, and estimated market capitalisation of ₹287.97 crore.