Understanding Shariah Compliance in IPOs and Stocks:
Investing wisely is essential for both financial growth and ethical alignment. For those interested in making investments that comply with Islamic law, understanding the Shariah status of Initial Public Offerings (IPOs) and stocks is crucial. This article aims to provide insights into the Shariah compliance of TechD Cybersecurity Ltd, ensuring that your investment choices are not only profitable but also ethical.
Table of Contents
Analyzing The Company
Company Name: TechD Cybersecurity Ltd
Industry: IT – Software
Listing At: NSE SME
Overview:
Established in 2009 in Ahmedabad, India, TechDefence Labs, a part of TechD Cybersecurity Limited, has evolved from a small cybersecurity awareness program into a leading provider of comprehensive cybersecurity solutions. The company, which formally became TechDefence Labs Solutions Limited in January 2017, specializes in safeguarding the digital assets of organizations globally. Their core mission is to provide end-to-end services that help businesses navigate and secure themselves in an ever-changing digital landscape. Initially focusing on training for corporates, educational institutions, and law enforcement agencies, TechDefence Labs has since expanded its offerings to include a wide range of services, establishing itself as a key innovator in the information security sector. The company’s growth has been steady and deliberate, building a solid foundation of expertise and client trust.
Vision, Mission, and Core Objective
TechDefence’s primary objective is to address the growing market demand for robust cybersecurity solutions. They aim to provide the best possible answers to the challenges of securing cyberspace, a goal that underpins all their activities. To support this objective, the company has crafted a clear vision and mission.
Their vision is to be recognized as the “renowned pinnacle of cyber security solutions and services.” This isn’t just about providing technical services; it’s also about fostering a culture of passion and innovation. The ultimate measure of their success is the satisfaction of their clients and the creation of a safer, more secure cyberspace for everyone.
The company’s mission statement, which mirrors its vision, reinforces this commitment. By focusing on becoming a pinnacle of cybersecurity services, TechDefence emphasizes its dedication to excellence and leadership in the field. This dual focus on technical prowess and a culture of innovation ensures that they remain at the forefront of the industry, capable of adapting to new threats and providing cutting-edge solutions.
Comprehensive Service Offerings
TechDefence Labs offers a wide array of services designed to meet the diverse and complex cybersecurity needs of modern enterprises. Their integrated approach ensures that clients can receive a full suite of services from a single provider, simplifying their security management.
- Vulnerability Assessment and Penetration Testing (VAPT): This is a critical service for identifying and addressing security flaws. TechDefence’s experts meticulously test web and mobile applications to find vulnerabilities, helping clients fix weaknesses before they can be exploited by malicious actors. This proactive approach significantly enhances a company’s overall security posture.
- Managed Security Service Provider (MSSP) Solutions and Security Operations Center (SOC) Services: For organizations that lack the resources for an in-house security team, TechDefence provides continuous monitoring and analysis through its SOC services. This ensures that potential cybersecurity incidents are detected and responded to promptly, minimizing damage and downtime. The MSSP model allows businesses to outsource their security operations to specialists, gaining access to expert knowledge and advanced tools without the high cost of maintaining an internal team.
- Cyber Program Management and Cybersecurity Consulting: Beyond technical assessments, TechDefence offers strategic guidance. Their consulting services help organizations develop comprehensive security strategies, ensure compliance with regulatory standards, and manage risk effectively. This service is crucial for building a resilient defense framework from the ground up.
- Specialized Services and Staff Augmentation: The company provides tailored solutions for unique security challenges, addressing specific industry or technology-related threats. Additionally, their staff augmentation service allows clients to bring in skilled cybersecurity professionals to supplement their existing teams for specific projects or periods, providing flexibility and access to specialized talent.
- Compliance Services: Navigating the complex world of data protection and regulatory compliance can be challenging. TechDefence assists clients in meeting various compliance requirements, such as those related to CERT-In (Indian Computer Emergency Response Team), ensuring that businesses adhere to legal and industry standards.
- Domain Training: Recognizing the importance of a skilled workforce, TechDefence provides specialized training through workshops and bootcamps. These programs educate professionals on the latest cybersecurity practices and threat mitigation techniques, helping to build a more cyber-aware and capable workforce.
Competitive Strengths and Client Portfolio
TechDefence Labs has cultivated several key strengths that set it apart in the competitive cybersecurity market.
- Experienced Promoters and Management: The company is led by a team of qualified and experienced professionals who provide strategic direction and industry expertise. Their leadership ensures that TechDefence remains agile and innovative.
- Integrated Service Offering: The comprehensive and integrated nature of their services is a significant advantage. Clients can rely on a single, trusted partner for everything from VAPT to ongoing SOC monitoring and strategic consulting.
- CERT-In Empanelment: Being empaneled by CERT-In, a government-mandated regulatory body, attests to the company’s credibility and compliance with official standards, providing clients with an added layer of trust.
- Talent Pipeline: TechDefence has a continuous supply of skilled cybersecurity talent, which ensures that their services are always delivered by knowledgeable and up-to-date professionals. This is a direct result of their history in providing training and their focus on talent development. As of June 30, 2025, the company has 147 employees on its payroll, a testament to its growth and operational scale.
- Proven Track Record and Diverse Client Portfolio: The company boasts a strong history of successful projects. Their client list includes prominent names like the Adani Group, Zensar Technologies, Astral Limited, Kedia Capital, 1 Cyber Valley, ETO GRUPPE Technologies GmbH, and IQM Corporation. This diverse portfolio demonstrates their ability to serve a wide range of industries and business sizes.
- Strong OEM Relationships: TechDefence has built robust relationships with leading Original Equipment Manufacturers (OEMs), giving them access to the latest security technologies and solutions to offer their clients.
In summary, TechDefence Labs combines a history of expertise with a forward-looking vision to provide high-quality, end-to-end cybersecurity solutions. Their strong leadership, integrated services, and impressive client portfolio position them as a reliable and innovative leader in the global cybersecurity landscape. They are not just a service provider but a strategic partner dedicated to creating a more secure digital world.
Shariah Status
The IPO is Non-Shariah Compliant, please see below image.
IPO Timeline (Tentative Schedule)
- IPO Open Date: Monday, September 15, 2025
- IPO Close Date: Wednesday, September 17, 2025
- Tentative Allotment: Thursday, September 18, 2025
- Initiation of Refunds: Monday, September 19, 2025
- Credit of Shares to Demat: Monday, September 19, 2025
- Tentative Listing Date: Tuesday, September 22, 2025
- Cut-off time for UPI mandate confirmation: 5 PM on September 17, 2025
Lot Size
| Application Lots | Shares | Amount | Category |
| Min | 2,120 | ₹2,31,600 | Individual investors (Retail) |
| Max | 2,120 | ₹2,31,600 | Individual investors (Retail) |
| Min | 3,180 | ₹3,47,400 | S-HNI |
| Max | 8,480 | ₹9,26,400 | S-HNI |
| Min | 9,540 | ₹10,42,200 | B-HNI |
Financials
Based on the financial data, TechD Cybersecurity Ltd. showed remarkable growth. The company’s total income nearly doubled, increasing from ₹15.36 crore in fiscal year 2024 to ₹30.23 crore in 2025. This 97% growth was accompanied by an even more significant rise in profit after tax (PAT), which jumped by 159% from ₹3.24 crore to ₹8.40 crore. The EBITDA also saw substantial growth, more than doubling from ₹4.91 crore to ₹12.24 crore. Furthermore, the company’s net worth and reserves and surplus increased substantially, demonstrating a strong financial position.
KPI
| 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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SEBI Disclaimer
Investing in IPOs involves risks. Please read the offer document carefully before investing. This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making any investment decisions.