In 2025, India’s IPO market has continued to witness strong activity, with tech and cybersecurity firms drawing considerable investor interest. The increasing reliance on digital infrastructure, coupled with rising cyber threats, has made cybersecurity a critical sector for businesses and governments alike. Against this backdrop, TechDefence Labs Solutions Ltd IPO is set to open on September 15, 2025, presenting a unique opportunity for investors to participate in the growth of a leading Indian cybersecurity firm.
Here’s a detailed insight into TechDefence Labs, its IPO, and the industry outlook.
About TechDefence Labs
Established in January 2017, TechDefence Labs Solutions Limited is a cybersecurity firm specialising in safeguarding digital assets for organisations worldwide. The company provides end-to-end solutions to help businesses stay secure in the digital world.
Its offerings include:
- Vulnerability Assessment and Penetration Testing (VAPT): Identifying and mitigating vulnerabilities in web and mobile applications.
- Security Operations Centre (SOC) Services: Continuous monitoring and analysis to detect and respond to cybersecurity incidents.
- Cybersecurity Consulting: Guidance on security strategies, compliance, and risk management.
- Domain Training: Workshops and bootcamps to educate professionals on latest cybersecurity practices.
The company has a strong client base, including Adani Group, Zensar Technologies, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporation. As of June 30, 2025, TechDefence Labs employs 147 professionals.
Competitive Strengths:
- Experienced promoters and management team
- Comprehensive and integrated cybersecurity services
- CERT-In empanelment and regulatory authority recognition
- Consistent supply of skilled cybersecurity talent
- Proven track record with diverse client portfolio
- Strong relationships with leading OEMs
TechDefence Labs IPO Details
TechDefence Labs IPO is a book-building issue with a total size of ₹38.99 crore, entirely a fresh issue. The IPO opens on September 15, 2025, and closes on September 17, 2025. The tentative allotment date is September 18, 2025, and listing on NSE SME is expected on September 22, 2025.
| Detail | Information |
| Face Value | ₹10 per share |
| Issue Price Band | ₹183 – ₹193 per share |
| Lot Size | 600 shares |
| Total Issue Size | 20,20,200 shares (₹38.99 Cr) |
| Sale Type | Fresh Capital |
| Net Offered to Public | 19,18,800 shares (₹37.03 Cr) |
| Listing At | NSE SME |
| Shareholding Pre Issue | 54,59,533 shares |
| Shareholding Post Issue | 74,79,733 shares |
| Book Running Lead Manager | GYR Capital Advisors Pvt. Ltd. |
| Registrar | Purva Sharegistry (India) Pvt. Ltd. |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
TechDefence Labs IPO Lot Size
Investors can bid for a minimum of 1,200 shares (2 lots) and in multiples of 600 shares.
| 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 Anchor Investors
The IPO raised ₹11.09 crore from anchor investors. The anchor bid date was September 12, 2025.
- Shares Offered to Anchors: 5,74,800
- Lock-in Period:
- 50% shares – 30 days (October 18, 2025)
- Remaining shares – 90 days (December 17, 2025)
TechDefence Labs IPO Timeline
| Event | Date |
| IPO Open Date | Mon, Sep 15, 2025 |
| IPO Close Date | Wed, Sep 17, 2025 |
| Tentative Allotment | Thu, Sep 18, 2025 |
| Initiation of Refunds | Fri, Sep 19, 2025 |
| Credit of Shares to Demat | Fri, Sep 19, 2025 |
| Tentative Listing Date | Mon, Sep 22, 2025 |
| Cut-off for UPI mandate | 5 PM, Sep 17, 2025 |
TechDefence Labs Financials
The market capitalisation of TechDefence Labs IPO is ₹144.36 Cr. The company has showcased strong financial performance with rapid growth in revenue and profitability.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 29.08 | 9.14 | 6.98 |
| Total Income | 30.23 | 15.36 | 7.59 |
| Profit After Tax | 8.40 | 3.24 | 0.94 |
| EBITDA | 12.24 | 4.91 | 1.36 |
| NET Worth | 22.14 | 4.80 | 1.56 |
| Reserves and Surplus | 16.68 | 4.79 | 1.55 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025
| 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 |
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EPS & P/E:
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 5.94 | 11.45 |
| P/E (x) | 32.51 | 16.85 |
Objects of the Issue
The company intends to utilise IPO proceeds for:
- Investment in Human Resources: ₹26.09 Cr
- Capital Expenditure for Global Security Operation Centre (GSOC) at Ahmedabad: ₹5.88 Cr
- General Corporate Purposes
TechDefence Labs: Industry Outlook
The cybersecurity industry in India is witnessing rapid growth due to increased digital adoption and rising cyber threats.
- Businesses are increasingly investing in MSSP solutions, SOCs, and VAPT services.
- Regulatory compliance and CERT-In empanelment are driving demand for certified cybersecurity providers.
- The Indian government’s focus on digital infrastructure and smart cities further fuels cybersecurity demand.
- Skilled cybersecurity professionals remain in high demand, benefiting firms like TechDefence Labs with strong training and staffing capabilities.
TechDefence Labs IPO: Peer Comparison
Investors evaluating TechDefence Labs Solutions Ltd. can consider its performance relative to industry peers like TAC Infosec Ltd and Sattrix Information Security Ltd. While TechDefence Labs offers end-to-end cybersecurity solutions, including VAPT, SOC services, and training, TAC Infosec Ltd. primarily focuses on managed security services, and Sattrix Information Security Ltd. provides specialised consulting and compliance solutions. Comparing key metrics such as revenue growth, profit margins, and client portfolio can help investors gauge TechDefence Labs’ competitive positioning and growth potential within the IT sector.
Conclusion
TechDefence Labs IPO presents an opportunity to invest in India’s growing cybersecurity sector. With a strong client base, experienced management, consistent financial growth, and strategic expansion plans like GSOC setup, the company is well-positioned for future growth. Investors should, however, consider risks such as industry competition, dependency on skilled talent, and potential regulatory changes.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
