Kratikal Tech Ltd IPO
IT - Software
Price Band
₹128 – ₹135
Lot Size
1000
Minimum Bid Quantity
2000
Minimum Investment
₹270000
Issue Size
₹39.69Cr
Opens
2026-06-30
Closes
2026-07-02
Listing
07-07-2026
Subscription Status
Qualified Institutional Buyers
145.82 x
Non-Institutional Investor
239.6 x
Retail Individual Investor
214.79 x
Total
203.28 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1L0M01019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Kratikal Tech Limited is a cybersecurity company that provides AI-driven software-as-a-service (SaaS) security solutions, along with cybersecurity and regulatory compliance services. The company operates through two business segments: AI-driven people security management solutions offered under the Threatcop brand, and technology and process security services offered under the Kratikal brand. Its product portfolio includes Threatcop, a people security management suite, and AutoSecT, an AI-driven vulnerability management, detection, and response (VMDR) and penetration testing platform. The company also provides services such as vulnerability assessment and penetration testing (VAPT), application and infrastructure security, red-team exercises, governance, risk and compliance (GRC) services, secure code reviews, and virtual CISO services. Kratikal serves customers across sectors, including BFSI, fintech, telecom, IT/ITeS, healthcare, pharmaceuticals, e-commerce, and manufacturing in India and overseas markets. The company operates from India and is a CERT-In empanelled security auditor as well as an NSE-empanelled system auditor. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Investment in Threatcop FZ LLC, UAE, and Threatcop AI Inc, USA (subsidiaries), for sales & marketing activities and development of workforce resources - Rs 23.08 crore Investment in product development - Rs 9.23 crore General corporate purposes
Pros
- • The company claims to have developed an integrated people security management platform under the Threatcop brand. The platform combines security awareness training, phishing simulations, learning management systems, email authentication tools, and incident response capabilities to address human-related cybersecurity risks.
- • Kratikal Tech offers a real-time DMARC platform with Sender ID visibility, which helps organisations monitor email authentication and identify unauthorised or suspicious senders. This capability can assist enterprises in reducing risks related to domain spoofing and business email compromise (BEC) attacks.
- • The company claims to provide cybersecurity solutions across multiple security domains, including network, cloud, web application, mobile application, API, and infrastructure security. In addition to technical security assessments, it also offers compliance, governance, risk management, and regulatory advisory services, allowing it to serve clients with varied security requirements.
Cons
- • The company is heavily dependent on its workforce, with employee benefit expenses accounting for Rs 14.05 crore (38.27%), Rs 9.03 crore (43.33%), and Rs 5.15 crore (39.55%) of revenue from operations in FY26, FY25, and FY24, respectively. If the company is unable to attract, retain, redeploy, or upskill cybersecurity professionals, it could adversely affect project execution, profitability, and future growth.
- • A significant portion of the company’s revenue is concentrated in a few states. The top six states contributed Rs 23.16 crore (63.07%), Rs 16.41 crore (78.71%), and Rs 10.27 crore (78.89%) of revenue in FY26, FY25, and FY24, respectively. Any adverse economic, regulatory, or industry developments in these regions could negatively impact the company's business and financial performance.
- • The company has reported negative cash flows from investing activities of Rs 9.73 crore, Rs 4.00 crore, and Rs 3.82 crore in FY26, FY25, and FY24, respectively, primarily due to investments in property, plant and equipment, intangible assets, and other investments. It also reported negative cash flow from financing activities of Rs 0.04 crore in FY25 due to repayment of short-term borrowings and interest payments. If such cash outflows continue or increase, the company may face liquidity pressures and require additional funding for its growth plans.
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