Kratikal Tech IPO – Company Analysis
Kratikal Tech IPO, under the SME IPO category, is a book-built issue of ₹39.69 crore by Kratikal Tech Limited. The company offers cybersecurity consulting services and Software-as-a-Service (SaaS)-based cyber risk management solutions through its proprietary platforms. Its business is divided into two integrated segments: People Security Management (PSM) solutions under the Threatcop brand and Technology & Process Security Services under the Kratikal brand.
Product Portfolio
The company's product portfolio includes AutoSecT, an AI-powered Vulnerability Management, Detection & Response (VMDR) and penetration testing platform, and Threatcop, a people security management suite designed to reduce human-related cyber risks through security awareness and simulation programs.
Cybersecurity Services
In addition to its proprietary platforms, Kratikal Tech provides a wide range of cybersecurity services, including cybersecurity awareness programs, Governance, Risk & Compliance (GRC) services, application and infrastructure security testing, red-team exercises, vulnerability assessments, Vulnerability Assessment and Penetration Testing (VAPT), and Virtual Chief Information Security Officer (vCISO) services.
Kratikal Tech IPO Details
The Kratikal Tech IPO opens on 30 June 2026 and closes on 02 July 2026. The IPO allotment is expected on 03 July 2026, while refunds will be initiated on 06 July 2026.
IPO Issue Size
The ₹39.69 crore SME IPO comprises an entirely fresh issue of 0.29 crore equity shares.
Listing Details
The Kratikal Tech IPO is expected to be listed on 07 July 2026 on the BSE SME platform.
Price Band
The Kratikal Tech IPO price band has been fixed at ₹128 to ₹135 per equity share.
IPO Timetable (Tentative)
Events | Date |
IPO Opening Date | Jun 30, 2026 |
IPO Closing Date | Jul 02, 2026 |
IPO Allotment Date | Jul 03, 2026 |
Refund Initiation | Jul 06, 2026 |
IPO Listing Date | Jul 07, 2026 |
Company Financials
(Amount in Cr)
Particulars | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Assets | 30.12 | 15.58 | 9.05 |
Total Income | 36.86 | 21.15 | 13.28 |
Profit After Tax | 6.14 | 3.81 | 3.20 |
EBITDA | 9.08 | 5.51 | 3.87 |
Net Worth | 24.02 | 11.13 | 6.56 |
Reserves and Surplus | 15.86 | 11.10 | 6.53 |
Total Borrowing | 0.01 | 0.01 | 0.03 |
Cash Flows
(Amount in lac)
Net Cash Flow | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Net Cash Flow Operating Activities | 209.85 | 457.85 | 422.12 |
Net Cash Flow Investing Activities | (972.50) | (399.77) | (381.71) |
Net Cash Flow Financing Activities | 756.24 | (3.64) | 2.04 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
Objective of the Issue
The company intends to utilize the net proceeds from the IPO for the following purposes:
Investment in Threatcop FZ LLC (UAE) and Threatcop AI Inc. (USA), its subsidiaries, to support sales & marketing activities and workforce expansion – ₹23.08 crore.
Investment in product development – ₹9.23 crore.
General corporate purposes.
Listed Peers of Kratikal Tech Ltd.
Name of Company | Face Value (Rs. ) | Basic EPS (₹) | PE Ratio (x) |
Our Company | 10 | 7.86 | NA |
AAA Technologies Limited | 10 | 1.61 | 55.38 |
Accedere Limited | 10 | 1.37 | 44.04 |
Valuation
KPI | Value (Mar 31, 2026) |
RoE | 34.95% |
ROCE | 34.35% |
Debt/Equity | 0.00 |
RoNW | 25.57% |
PAT Margin | 16.73% |
EBITDA Margin | 24.73% |
P.B Value | 4.59 |
Evaluation of P/E Ratio
Based on the company's FY2026 EPS of ₹7.86, the Kratikal Tech IPO is priced at a P/E ratio of 17.17x at the upper price band of ₹135 per equity share.
Kratikal Tech IPO Strengths
Threatcop offers a comprehensive platform for people security management.
AI-powered solutions for vulnerability monitoring and cybersecurity.
Real-time DMARC monitoring with sender identity visibility.
End-to-end protection across people, process, and technology security layers.
Kratikal Tech IPO Weaknesses
Shortage of highly specialized cybersecurity talent.
Low cyber insurance penetration.
Dependence on legacy infrastructure in the public sector.
Kratikal Tech IPO GMP (Grey Market Premium)
Kratikal Tech IPO GMP today is ₹41 as of 01 July 2026, at the time of writing this article.
Kratikal Tech IPO Summary
IPO Opening & Closing Date | 30 Jun, 2026 to 02 Jul, 2026 |
Face Value | Rs. 10 per Share |
Issue Price | Rs. 128 to Rs. 135 per Share. |
Lot Size | 1000 Shares |
Issue Size | 29,40,000 Shares (Rs. 40 Cr) |
Offer for Sale | - |
Fresh Issue | 27,90,000 Shares (Rs. 38 Cr) |
Listing at | BSE, SME |
Issue Type | Bookbuilding Issue |
Registrar | Kfin Technologies Ltd. |
Kratikal Tech IPO Lot Size
Retail investors can apply for a minimum of 2 lots (2,000 shares) amounting to ₹2,70,000, and in multiples thereof. HNI investors are required to apply for a minimum of 3 lots (3,000 shares) amounting to ₹4,05,000.
Minimum Lot Investment (Retail) | 2 Lots |
Maximum Lot Investment (Retail) | 2 Lots |
HNI (Min) | 3 Lots |
Kratikal Tech IPO Allotment Status
Investors can check the Kratikal Tech IPO Allotment Status by visiting the official website of the IPO registrar or the BSE website. The direct links to both websites are provided below.
Promoters And Management of Kratikal Tech Ltd.
Mr. Pavan Kumar
Mr. Paratosh Kumar
Mr. Dip Jung Thapa.
Pre-Issue Promoter Shareholding | 72.58% |
Post-Issue Promoter Shareholding | 53.36% |
IPO Lead Manager
Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager for the Kratikal Tech IPO.
Dividend Policy
The company has not declared any dividend during the last three financial years.
Conclusion
The Kratikal Tech IPO offers investors an opportunity to participate in the growing cybersecurity and SaaS-based cyber risk management sector. The company has reported strong financial growth, healthy profit margins, low debt levels, and consistent profitability, making it an attractive SME IPO to watch.
To read the company's Draft Red Herring Prospectus (DRHP), click the link to download the DRHP.
DISCLAIMER: This article is for educational and informational purposes only and should not be considered as investment, financial, or trading advice. It does not constitute a buy, sell, or hold recommendation for any security or IPO. Investors should conduct their own research and consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks.
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