Kratikal Tech IPO

The Kratikal Tech SME IPO opens for subscription on 30 Jun 2026 and closes on 2 Jul 2026, offered at a price band of ₹128–135 per share, and is set to list on BSE. In total, the issue aims to mobilise ₹39.69 crore. Retail investors bid in lots of 1000 shares, a minimum application of ₹2,70,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹37.67 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward investment in threatcop fz llc, uae and threatcop ai inc, usa (subsidiaries) for expenditure towards sales & marketing activities and development of workforce resources. (₹23.08 crore), alongside investment in product development (₹9.23 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Kratikal Tech reported revenue of ₹36.86 crore and a net profit of ₹6.14 crore. Revenue grew from ₹13.28 crore in FY2024 to ₹36.86 crore in FY2026 (+178.0%). Net worth stood at ₹24.02 crore at the end of FY2026. At the upper band, that puts the issue at roughly 17.9× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 24.4× post-issue earnings and 4.59× book value, against a return on net worth of 25.57% and a debt-to-equity ratio of 0. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Aaa Technologies Limited and Accedere Ltd, with a median peer P/E of about 49.7×. The issue's own post-issue P/E works out to 24.4×.

Promoters

The promoters of the company are <p>Pavan Kumar, Paratosh Kumar, Dip Jung Thapa</p>. Promoter holding stands at 72.58% before the issue and comes down to 53.36% after listing.

Grey market premium (GMP)

In the unofficial grey market, Kratikal Tech shares are quoted at a premium of ₹78 implying an expected listing around ₹213, about +57.8% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Kratikal Tech IPO was subscribed 220.71 times overall. The strongest demand came from non-institutional investors (NII) at 324.64 times, with qualified institutional buyers (QIB) at 145.82× and retail investors at 218.48×.

Listing performance

Kratikal Tech listed on 7 Jul 2026 at ₹192, a premium of +42.2% over the issue price of ₹135.

What to weigh

When evaluating the Kratikal Tech IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Kratikal Tech

Kratikal Tech Limited , incorporated in November 2013, is a cybersecurity solutions provider specializing in AI-powered cyber risk management and Software-as-a-Service (SaaS) platforms. The company offers a combination of proprietary cybersecurity products and consulting services designed to help organizations identify, assess, and mitigate evolving cyber threats. The company operates through two complementary business verticals: People Security Management (PSM) solutions under the Threatcop brand and Technology &amp; Process Security Services under the Kratikal brand. Its integrated approach enables organizations to strengthen security across human, technological, and operational risk dimensions. Kratikal's product portfolio includes Threatcop , a comprehensive people security management platform aimed at reducing human-related cybersecurity vulnerabilities, and AutoSecT , an AI-enabled Vulnerability Management, Detection &amp; Response (VMDR) and penetration testing platform. The company also provides a broad range of cybersecurity services, including Vulnerability Assessment and Penetration Testing (VAPT), red-team assessments, application and infrastructure security testing, Governance, Risk &amp; Compliance (GRC) consulting, Virtual Chief Information Security Officer (vCISO) services, and cybersecurity awareness training programs. The company serves clients across diverse sectors such as banking and financial services (BFSI), fintech, telecommunications, IT &amp; IT-enabled services, healthcare, pharmaceuticals, manufacturing, and e-commerce. In addition to its industry reach within India, Kratikal also caters to international customers. The company is recognized as a CERT-In Empanelled Security Auditor and is further empanelled by the National Stock Exchange (NSE) to conduct system audits for trading members, reflecting its strong regulatory standing and technical expertise. As of March 31, 2026, Kratikal Tech employed 200 professionals across various functions, including engineering, cybersecurity operations, sales, management, finance, and administration. Key Competitive Strengths Comprehensive People Security Management solutions through the Threatcop platform. Advanced AI-driven cybersecurity, vulnerability management, and threat detection capabilities. Real-time DMARC monitoring and email security solutions with enhanced sender visibility. Integrated cybersecurity offerings covering people, processes, and technology infrastructure. Proprietary SaaS platforms, including Threatcop and AutoSecT, enabling scalable service delivery. Strong industry credibility supported by CERT-In and NSE empanelments. Diversified service portfolio encompassing VAPT, GRC consulting, red teaming, and vCISO services. Experienced leadership team with deep expertise in cybersecurity and risk management. Established presence across multiple industry verticals and international markets. Scalable subscription-based business model supported by recurring SaaS revenue streams.