TechDefence Labs IPO booked 7x on Day 1; strong retail demand, GMP at 83%

TechDefence Labs received bids for 10.52 million equity shares compared to the issue size of 1.44 million shares

TechDefence Labs IPO subscription status Day 1: The initial public offering (IPO) of cyber security firm TechDefence Labs opened for subscription on Monday, September 15, 2025. The SME public issue is receiving an overwhelming response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed around 7.28 times at 2:30 PM on Monday, according to data from the National Stock Exchange. 

 

The issue received bids for 10.52 million equity shares compared to the issue size of 1.44 million shares. The demand was primarily driven by retail investors who subscribed to the allotted quota by 11.97 times, followed by non-institutional buyers (NIIs) at 8.23 times. However, the qualified institutional buyers' (QIBs) portion was booked at only 43 per cent.  

 

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TechDefence Labs IPO GMP

On Monday, the unlisted shares of TechDefence Labs were trading at ₹353, commanding a premium of ₹160 or 83 per cent compared to the upper end of the price band of ₹183 to ₹193, according to sources tracking unofficial markets.  Check Dev Accelerator IPO Allotment Status

TechDefence Labs IPO details

The three-day subscription window for the maiden public offering will close on Wednesday, September 17, 2025. The basis of allotment of shares is likely to be finalised on Thursday, September 18, 2025. Shares of TechDefence Labs will be listed on the NSE SME platform tentatively on Monday, September 22, 2025.

 

TechDefence Labs IPO, worth ₹38.99 crore, comprises a fresh issue of 2 million equity shares. There is no offer for sale (OFS) component. 

 

The company has reserved not more than 50 per cent of the net offer for qualified institutional buyers (QIBs), not less than 35 per cent for retail investors, and not less than 15 per cent for non-institutional investors (NIIs).

 

TechDefence Labs has set the price band in the range of ₹183 to ₹193 per share. Retail investors would require a minimum investment amount of ₹231,600 shares to bid for at least two lots comprising 1,200 shares.  

 

Purva Sharegistry (India) is the registrar for the public offering, while GYR Capital Advisors is the sole book-running lead manager.

 

According to the red herring prospectus (RHP), the company plans to utilise the net issue proceeds for investment in human resources and setting up the Global Security Operation Centre (GSOC) at Ahmedabad. The remaining funds will be used for general corporate purposes.