TechDefence Labs Solutions Limited, a dynamic cybersecurity services company that has been in the business since 2017 and is rapidly growing, is going to raise ₹38.99 crore through its SME IPO on NSE SME. The entire issue will consist solely of a fresh issue of 20.20 lakh shares, without an offer-for-sale component. The subscription window will be open from September 15 to 17, 2025, and the listing is likely to be on September 22, 2025. The IPO is priced at ₹183–₹193 per share, and investors are allowed to apply in lots of 600 shares. The minimum application size for retail investors at the upper end of the band is ₹2.31 lakh. The issue proceeds will be utilized to increase the workforce, GSOC (Global Security Operations Centre) establishment in Ahmedabad which is a new geographical location, and for meeting the company’s general corporate expenses.
TechDefence Labs IPO Overview
For the past eight years, TechDefence Labs has been a dependable cybersecurity partner for businesses in India and abroad. Their services cover the needs of the clients far beyond vulnerability testing by offering complete solutions that encompass managed security, compliance, cyber program management, and specialized services designed for enterprises.
One of the things that make TechDefence different from others is its strong client base. The company has been trusted by well-known names in the industry like Adani Group, Zensar Technologies, Astral Limited, and IQM Corporation for its expert solutions. This combination of local and international clients is indicative of the company’s trustworthiness in a market where trust is often the deciding factor.
The company is situated in Ahmedabad, and the promoters, Mr. Sunny Piyushkumar Vaghela and Mr. Vaghela Piyush Rasiklal, are responsible for the operations. Both of them have a long history of working in the industry, which has been monumental in the shaping of TechDefence Labs as one of the Indian cybersecurity sectors’ new names.
| Field | Details |
| Legal Name | TechDefence Labs Solutions Limited |
| Founded In | 2017 |
| Headquarters | Ahmedabad, Gujarat |
| Address | Office No. 901–904, 908, Abhishree Adroit, Nr. Swaminarayan Temple, Vastrapur, Ahmedabad |
| Registrar | Purva Sharegistry (India) Pvt. Ltd. |
| Promoters & Key Leaders | Mr. Sunny Piyushkumar Vaghela, Mr. Vaghela Piyush Rasiklal |
TechDefence Labs’ Business Model & Operations
TechDefence Labs operates with a service-based business model, where the main sources of revenue are long-term cybersecurity contracts, project-based consulting, and specialized offerings. The company’s portfolio is designed to be a one-stop solution for digital security needs, starting from the routine audits to the real-time monitoring.
Core areas of the business include:
- Vulnerability Assessment & Penetration Testing (VAPT): Working on a project basis to identify and fix vulnerabilities in IT infrastructure services, web applications…
- Security Operations Centre (SOC): Providing continuous surveillance and emergency response facilities that get hold of and neutralize the attackers…
- Compliance & Consulting: In addition to ensuring that businesses fulfill the legal requirements set by authorities, we help them design solid defense strategies to face cyber threats.
- Training & Staff Augmentation: Creating a steady flow of skilled cybersecurity professionals through bootcamps and workforce solutions.
By mixing consulting, technical service, and talent development, TechDefence Labs manages to generate both recurring revenue and stay industry relevant – which is a major plus in a dynamic sector.
Also Read: Basilic Fly Studio Stock Rises 368% in Two Years on NSE SME
TechDefence Labs Financial Performance
The financial results of the company reveal both the breadth and the effectiveness of the business. In the period between FY24 and FY25, the revenue almost doubled from ₹16.04 crore to ₹30.23 crore, while the profit after tax increased more than two times, from ₹3.24 crore to ₹8.40 crore. The profitability of the company also witnessed a significant upward trend, with the EBITDA margins going above 40%.
The growth has been fueled by a very robust balance sheet — the net worth has gone up more than four times in FY25 compared to the last year, and the company is almost debt-free. Such financial soundness provides a strong foundation for the planned IPO-based expansion.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | ₹29.08 Cr | ₹9.14 Cr | ₹6.98 Cr |
| Total Income | ₹30.23 Cr | ₹15.36 Cr | ₹7.59 Cr |
| Profit After Tax | ₹8.40 Cr | ₹3.24 Cr | ₹0.94 Cr |
| EBITDA | ₹12.24 Cr | ₹4.91 Cr | ₹1.36 Cr |
| Net Worth | ₹22.14 Cr | ₹4.80 Cr | ₹1.56 Cr |
| Reserves & Surplus | ₹16.68 Cr | ₹4.79 Cr | ₹1.55 Cr |
TechDefence Labs SME IPO Details
The pricing of the initial public offering will be done through the book-building process, and the shares will be between ₹183 and ₹193. As it is a completely new issue, their company will be free to use the money that is raised for expansion and operational plans.
| Field | Details |
|---|---|
| IPO Date | Sep 15–17, 2025 |
| Listing Date | Sep 22, 2025 (Tentative) |
| Face Value | ₹10 per share |
| Issue Price Band | ₹183–₹193 per share |
| Lot Size | 600 shares |
| Sale Type | Fresh Issue |
| Total Issue Size | 20,20,200 shares (₹38.99 Cr) |
| Reserved for Market Maker | 1,01,400 shares (₹1.96 Cr) – Giriraj Stock Broking Pvt. Ltd. |
| Net Offered to Public | 19,18,800 shares (₹37.03 Cr) |
| Issue Type | Book Building IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 54,59,533 shares |
| Shareholding Post-Issue | 74,79,733 shares |
TechDefence Labs’ Goals for the Funds
The firm has shared how it will use its funds in its papers:
- A big part — ₹26.09 crore will be spent on getting and training people. This is key in cybersecurity since skill adds value.
- About ₹5.89 crore will be put into setting up a Global Security Operations Centre (GSOC) in Ahmedabad to boost real-time checks.
- The rest will help with everyday company needs, aid working cash, and offer flexible operations.
This use of funds aims to focus on both staff and setup.
Company Strengths
Some things that help TechDefence Labs include:
- Smart and trained leaders with a good past record.
- Full cybersecurity fixes in one place.
- CERT-In listing, which fits with Indian rules.
- Long ties with big local firms and foreign clients.
- Strong growth seen each year in money made and profits.
- Keep up talent supply with ongoing training.
Risks & Challenges
Even with solid basics, investors must watch out for some risks:
- The cybersecurity area is full of tough competition, with many global names in India.
- A big need for skilled people makes the firm face risks of losing staff.
- Quick changes in threats mean having to put money back into tech often.
- A lot of the income is from big clients, making a risk of focus on too few.
- Rules changing in India or elsewhere could change what the firm needs to do and spend.
Conclusion
TechDefence Labs has grown fast as a cybersecurity firm with great clients and good money results. The IPO funds are meant for making better skills, not just paying off debts. This shows a plan for growth. But, the big price for small investors (₹2.31 lakh least) might mean only serious investors will join.
As the need for cybersecurity grows, TechDefence Labs has a good chance to do well, but how it does in a tough and always changing field will shape its future success.
FAQ’s
What does TechDefence Labs do?
TechDefence Labs Solutions Limited supplies cybersecurity services, such as vulnerability testing, SOC operations, compliance audits, and consulting.
When will TechDefence Labs SME IPO open and close?
The IPO is open on September 15, 2025 and the closing date is September 17, 2025.
What is the issue size of TechDefence Labs SME IPO?
Comprising solely of a fresh issue of 20.20 lakh shares, the offer for sale is ₹38.99 crores.
What is the price band for TechDefence Labs SME IPO?
Each share is offered at a price ranging from ₹183 to ₹193 with the minimum number of shares to be bought or sold being 600.
Where will TechDefence Labs shares be listed?
The shares will be listed on the NSE SME platform.
Who are the promoters of TechDefence Labs?
The promoters are Mr. Sunny Piyushkumar Vaghela and Mr. Vaghela Piyush Rasiklal.
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