TechD Cybersecurity Limited (formerly Techdefence Labs Solutions Limited) is a cybersecurity firm dedicated to safeguarding digital assets for organizations in India and worldwide.
The company delivers end-to-end cybersecurity services, enabling enterprises to protect critical data, prevent cyber threats, and ensure business continuity.
Its diverse portfolio of offerings includes Managed Security Services (MSSP), Cyber Program Management, Vulnerability Assessment & Penetration Testing (VAPT), Compliance Services, Specialised Security Services, and Staff Augmentation Solutions tailored to varied client needstechd-defence-ipo-rhp.
With certifications such as ISO 27001 and empanelment by CERT-In, TechD adheres to the highest industry standards for information security and maintains a comprehensive Cyber Risk Management framework.
The company serves clients across multiple sectors, including BFSI, NBFCs, Manufacturing, Healthcare, Aviation, and Government Institutions. Notable clients include Adani Group, Zensar Technologies Limited, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporationtechd-defence-ipo-rhp.
The company’s key service offerings include:
- Vulnerability Assessment & Penetration Testing (VAPT): Identifying and mitigating security gaps in applications and infrastructure.
- Security Operations Center (SOC) Services: Continuous threat monitoring and incident response.
- Cybersecurity Consulting: Guidance on compliance, governance, and risk management practices.
- Domain Training & Workshops: Building cybersecurity skills through university partnerships, bootcamps, and professional certificationstechd-defence-ipo-rhp.
As of June 30, 2025, TechD Cybersecurity employed 147 professionals, supporting its expanding domestic and international operations.
TechDefence Labs IPO – Details
| IPO Opening Date | 15 September 2025 |
| IPO Closing Date | 17 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 20,20,200 Shares Worth ₹38.99 Crore Fresh Issue: 20,20,200 Shares Worth ₹38.99 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹183 – ₹193 per share |
| Market Lot | 600 Shares |
| Min Order | 600 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
TechDefence Labs IPO – Date Schedule
| IPO Open Date | 15 September 2025 |
| IPO Close Date | 17 September 2025 |
| Basis of Allotment | 18 September 2025 |
| Initiation of Refund | 19 September 2025 |
| Credit of Shares to Demat | 19 September 2025 |
| IPO Listing Date | 22 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 17, 2025 |
TechDefence Labs IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,31,600 |
| Retail (Max) | 2 | 1,200 | ₹2,31,600 |
| S-HNI (Min) | 3 | 1,800 | ₹3,47,400 |
| S-HNI (Max) | 8 | 4,800 | ₹9,26,400 |
| B-HNI (Min) | 9 | 5,400 | ₹10,42,200 |
Competitive Strengths
- Qualified and Experienced Promoters & Management.
- Comprehensive and Integrated Cybersecurity Service Offering.
- CERT-In Empanelment and Regulatory Authority.
- Continuous Supply of Skilled Cybersecurity Talent.
- Proven Track Record and Diverse Client Portfolio.
- Strong Relationships with Leading OEMs.
Company Promoters
- Mr. Sunny Piyushkumar Vaghela
- Mr. Vaghela Piyush Rasiklal
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹7.59 Cr | ₹6.32 Cr | ₹0.94 Cr | – |
| 31 March 2024 | ₹15.36 Cr | ₹10.96 Cr | ₹3.24 Cr | – |
| 31 March 2025 | ₹30.23 Cr | ₹18.87 Cr | ₹8.40 Cr | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 62.33% |
| ROCE | 54.25% |
| Debt/Equity | 0.01 |
| RoNW | 37.93% |
| PAT Margin | 28.18% |
| EBITDA Margin | 40.48% |
| Price to Book Value | 4.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.94 | 11.45 |
| P/E (x) | 32.51 | 16.85 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Investment in Human Resources. | ₹26.09 |
| Capital Expenditure for setting up the Global Security Operation Centre (GSOC) at Ahmedabad. | ₹5.89 |
| General Corporate Purposes. | – |
✅Strengths
- Founder-led with strong cybersecurity expertise.
- End-to-end service portfolio (MSSP, VAPT, SOC, Consulting, Training).
- CERT-In empanelled & ISO 27001 certified.
- Strong client base (Adani, Zensar, Astral, etc.).
- University tie-ups ensuring skilled talent supply.
- Partnerships with leading OEMs (CrowdStrike, Palo Alto, Zscaler).
- Consistent growth and profitability.
⚠️Risks
- First-time listing; uncertain market performance.
- Intense competition from global/domestic players.
- Dependence on key promoter Sunny Vaghela.
- Rapidly changing cyber threat landscape.
- Revenue concentration in few big clients.
- High compliance and regulatory dependency.
- Talent retention challenges in a competitive industry.
TechDefence Labs IPO Promoter Holding
| Pre Issue Share Holding | 86.61% |
| Post Issue Share Holding | – |
TechDefence Labs IPO Prospectus
- TechDefence Labs IPO DRHP
- TechDefence Labs IPO RHP
Company Contact Information
| TechD Cybersecurity Ltd. Office No. 901, 902, 903, 904 & 908, Abhishree Adroit, Nr. Swaminarayan Temple Vastrapur Ahmedabad, Gujarat, 380015 Phone: +91 08645628421 Email: info@techdefence.com Website: https://www.techdefencelabs.com/ |
TechDefence Labs IPO Registrar
| Purva Sharegistry (India) Pvt.Ltd. Phone: +91-022-23018261/ 23016761 Email: newissue@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
TechDefence Labs IPO Lead Manager(s)
| 1. GYR Capital Advisors Pvt.Ltd. |
TechDefence Labs IPO FAQ
| What is TechDefence Labs IPO? TechDefence Labs IPO is an SME IPO. The issue is priced at ₹183 – ₹193 per equity share. The IPO is to be listed on NSE SME. |
| When TechDefence Labs IPO will open? The IPO is to open on 15 September 2025 for QIB, NII, and Retail Investors. |
| What is TechDefence Labs IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the TechDefence Labs IPO Size? TechDefence Labs IPO size is ₹38.99 Crore. |
| What is TechDefence Labs IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1200 Shares with ₹2,31,600 amount, while the maximum bid is 1200 Shares with ₹2,31,600. |
| What is the TechDefence Labs IPO Allotment Date? TechDefence Labs IPO allotment date is 18 September 2025. |
| What is the TechDefence Labs IPO Listing Date? TechDefence Labs IPO listing date is 22 September 2025. The IPO is to be listed on the NSE SME. |
