Kratikal Tech, a cybersecurity solutions provider, launched its initial public offering (IPO) on June 30, aiming to raise nearly ₹40 crore through a fresh issue of 29,40,000 shares on the BSE SME platform, according to livemint.com. The company plans to use the proceeds for business expansion and general corporate purposes.
The IPO opened for public subscription on Tuesday, June 30, with the grey market indicating a potential listing pop of over 20%, signaling strong investor interest. The issue is entirely a fresh share sale, and the company has set a price band to attract retail and institutional investors. The subscription status on the first day showed growing demand, reflecting confidence in Kratikal Tech's growth prospects.
This IPO comes amid rising demand for cybersecurity solutions in India, driven by increasing digital adoption and cyber threats. Kratikal Tech's move to raise funds through the BSE SME platform aligns with similar tech companies leveraging public markets to scale operations. The potential listing gain of over 20% positions the IPO as attractive compared to recent SME listings, highlighting investor appetite in the cybersecurity sector.
The IPO subscription will continue for the next few days, with the final allotment and listing expected shortly after the close. The company aims to strengthen its market position and accelerate product development with the fresh capital, marking a key milestone in its growth trajectory.