TechDefence Labs is launching an IPO through a book-building process, raising ₹38.99 crores by issuing 0.20 crore fresh shares. The subscription period for the IPO opens on September 15, 2025, and closes on September 17, 2025. The allotment is expected to be finalised on September 18, 2025, with a tentative listing on the NSE SME platform scheduled for September 22, 2025.
The IPO price band is set between ₹183.00 and ₹193.00 per share. The lot size for applications is fixed at 600 shares, and retail investors must invest a minimum of ₹231,600 (1,200 shares) at the upper price limit. High Net Worth Individuals (HNIs) are required to apply for at least three lots, amounting to 1,800 shares or ₹347,400.
TechDefence Labs specialises in providing end-to-end cybersecurity solutions to enterprises, helping businesses secure their digital environments. The company serves prominent clients such as Adani Group, Zensar Technologies, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporation, delivering innovative solutions that significantly enhance their cyber resilience.
TechDefence Labs IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Enhance manpower capacity by hiring new employees with an estimated investment of approximately ₹2,609.23 lakhs. This will enable it to strengthen international teams in high-potential markets such as North America, the Middle East, and Southeast Asia to drive global growth.
- Expand capabilities with a ₹588.82 lakh facility in Ahmedabad, which will provide 24x7 proactive cybersecurity solutions. This includes monitoring, threat intelligence, and risk management.
- Support general corporate purposes to ensure overall business growth, operational efficiency, and strategic initiatives. For this, the company may use up to 15% of the total issue size or ₹10 crore (whichever is lower).
About TechDefence Labs IPO
TechDefence Labs is launching an IPO through a book-building process, raising ₹38.99 crores by issuing 0.20 crore fresh shares. The subscription period for the IPO opens on September 15, 2025, and closes on September 17, 2025. The allotment is expected to be finalised on September 18, 2025, with a tentative listing on the NSE SME platform scheduled for September 22, 2025.
The IPO price band is set between ₹183.00 and ₹193.00 per share. The lot size for applications is fixed at 600 shares, and retail investors must invest a minimum of ₹231,600 (1,200 shares) at the upper price limit. High Net Worth Individuals (HNIs) are required to apply for at least three lots, amounting to 1,800 shares or ₹347,400.
TechDefence Labs specialises in providing end-to-end cybersecurity solutions to enterprises, helping businesses secure their digital environments. The company serves prominent clients such as Adani Group, Zensar Technologies, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporation, delivering innovative solutions that significantly enhance their cyber resilience.
Industry Outlook
- India’s IT industry is growing rapidly, with revenues expected to reach US$ 350 billion by 2026 and contribute 10% to the country’s GDP. The sector grew 15.5% year-on-year to US$ 245 billion in FY23.
- IT spending in India is projected to grow 11.1% in 2024, reaching US$ 138.6 billion, and the technology industry aims to double its revenue to US$ 500 billion by 2030.
- India’s tech talent pool is expanding fast, with nine times more digitally skilled workers expected by 2025, requiring 30 million digitally skilled professionals; strong international investments and strategic alliances are supporting this growth.
How To Apply for the TechDefence Labs IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the TechDefence Labs IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of TechDefence Labs IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of TechDefence Labs IPO
Registered office: Office No. 901, 902, 903, 904 & 908, Abhishree Adroit, Nr. Swaminarayan Temple, Vastrapur, Ahmedabad, Gujarat, 380015
Phone: +91 08645628421
E-mail:info@techdefence.com
TechDefence Labs IPO Reservation
|
Investor Category |
Shares Offered |
Percentage (%) |
|
Market Maker Shares |
1,01,400 |
5.02 |
|
QIB Shares |
9,58,800 |
47.46 |
|
NII (HNI) Shares |
2,88,000 |
14.26 |
|
Retail Shares |
6,72,000 |
33.26 |
TechDefence Labs IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
1,200 |
₹2,31,600 |
|
Individual investors (Retail) (Min) |
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 |
TechDefence Labs IPO Promoter Holding
The company's promoters are: Mr. Vaghela Piyush Rasiklal and Mr. Sunny Piyushkumar Vaghela.
|
Description |
Percentage Holding |
|
Promoter Holding (Pre-Issue) |
86.61% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for TechDefence Labs Limited
|
KPI |
Value |
|
ROE |
62.33% |
|
ROCE |
54.25% |
|
Debt/Equity |
0.01 |
|
PAT Margin |
28.18% |
|
EBITDA Margin |
40.48% |
TechDefence Labs IPO Prospectus
TechDefence Labs IPO Registrar and Lead Managers
TechDefence Labs IPO Lead Managers
- GYR Capital Advisors Pvt.Ltd.
Registrar for TechDefence Labs IPO
Purva Sharegistry (India) Pvt.Ltd.
- Contact Number: +91-022-23018261/ 23016761
- Email Address: newissue@purvashare.com
TechDefence Labs IPO Registrar website https://www.purvashare.com/investor-service/ipo-query
Financial Performance of TechDefence Labs Limited
| Particulars | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue from Operations (₹ Lakhs) | 2,979.52 | 1,506.90 | 755.78 |
| EBITDA Margin (%) | 40.48 | 31.96 | 17.88 |
| Profit After Tax (₹ Lakhs) | 839.61 | 324.12 | 94.11 |
| Return on Equity (%) | 62.33 | 101.89 | 86.35 |
| Debt to Equity Ratio | 0.01 | 0.38 | 1.05 |
Know before investing
Strengths
8The company is led by Mr. Sunny Vaghela specialising in national-level investigations.
The Board of Directors at Tech Defence have delivered client satisfaction consistently.
The company offers a wide range of cybersecurity services with end-to-end solutions.
The company's services are approved by CERT-In, making it a dependable partner.
It organises in-house training programs to build a robust talent pipeline.
It has proven to serve both SMEs and large, complex organisations efficiently.
It has a strong client base including companies like the Adani Group.
It has partnerships with leading OEMs to deliver top-tier security products.
Risks
8High client concentration: Top 10 customers contributed 46.28% of FY25 revenue.
Employee costs high: 27.24% of FY25 revenue spent on staff expenses.
High attrition: 17.03% in FY25, impacting project execution and client growth.
73% revenue from Gujarat and Maharashtra makes business vulnerable to regional risks.
Top 5 vendors formed 24.40% of FY25 purchases; no long-term contracts.
Strict data laws like DPDPA may increase compliance costs and liabilities.
MSSP services depend on 10 OEMs; disruptions may hurt revenue and delivery.
Promoter was unknowingly disqualified as director; issue later resolved with ROC compliance.
Tech Defence Labs Peer Comparison
| Company | Revenue (₹ Lakhs) | EBITDA Margin (%) | PAT Margin (%) | RoNW (%) |
|---|---|---|---|---|
| TAC Infosec Ltd | 3,050.00 | 52.89 | 48.66 | 26.10 |
| Sattrix Info Security Ltd | 4,463.17 | 16.27 | 9.07 | 11.08 |
