- Price band
- ₹128 – ₹135
- Issue size
- ₹39.69 Cr
- Lot size
- 1000 sh
- Bidding
- 30 Jun – 2 Jul
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 7 Jul 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Kratikal Tech, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2013 · Noida, Uttar Pradesh, India · 200 employees
Kratikal Tech sells cybersecurity software and security-testing services to Indian and overseas businesses. Its Threatcop suite is a subscription platform aimed at the human layer — phishing simulation, security awareness training, a learning management system and DMARC email authentication — licensed per user per year. Under the Kratikal brand it runs vulnerability assessment and penetration testing, application and infrastructure security, red-team exercises and governance, risk and compliance work, backed by AutoSecT, its platform for vulnerability management, detection and response. Customers span banking and insurance, fintech, telecom, IT services, healthcare, pharmaceuticals, e-commerce and manufacturing. The company is a CERT-In empanelled security auditor and is empanelled by NSE to audit trading members' systems. It employed 200 people at 31 March 2026 and is based in Noida.
Revenue is split between per-user annual software subscriptions and per-asset or project-priced services. In FY26 Threatcop products brought Rs 1,585.76 lakh from awareness training, Rs 224.13 lakh from DMARC and Rs 164.64 lakh from the learning system, while VAPT contributed Rs 1,284.18 lakh and compliance services Rs 397.68 lakh, on revenue from operations of Rs 3,671.59 lakh. The main cost is people: employee benefits were Rs 1,505.04 lakh in FY26, so margins turn on billable utilisation and renewal rates rather than on materials. EBITDA margin eased from 29.74% in FY24 to 24.73% in FY26; headcount over that span went from 124 to 200.
The company on paper
- Legal name
- Kratikal Tech Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 13 Nov 2013
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U62099UP2013PLC060625
- Sector
- Information Technology · AI-driven SaaS cybersecurity software plus penetration-testing and compliance services
- Employees
- 200
- Registered office
- Noida, Uttar Pradesh, India
- Promoters
- Pavan Kumar, Paratosh Kumar, Dip Jung Thapa
- Promoter holding, pre-issue
- 72.6%
- Promoter holding, post-issue
- 53.4%
- Website
- kratikal.com
The numbers
Financial performance
Revenue has compounded at 67.9% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹39.69 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹39.69 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,50,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 19.2% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹135.00
- Listed at
- ₹192.00
- Listing gain
- up 42.2%
- Since listing
- down 20.5%
- Against the issue price
- up 13.1%
Trading at ₹152.70 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 2,000
- At cut-off price
- ₹135.00
- Amount blocked
- ₹2,70,000
One lot is 1000 shares at ₹1,35,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,70,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~0.5%
chance of one lot, per application
- Retail subscription
- 218.48×
- Applicants per share available
- 218.5× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹192.00
listed at, 42.2% against the issue price
- Issue price
- ₹135.00
- Premium said
- —
- If allotted 1000 shares
- ₹57,000
Listing-day figures are as reported by the exchanges.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Beeline Capital Advisors Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- KFin Technologies Limited
How these figures were checked
Reconciled to Kratikal Tech's own prospectus and to exchange disclosures, then cross-checked against 5 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Kratikal Tech Limited — Prospectus dated July 03, 2026 (Beeline Capital Advisors, BRLM) · read 16 Oct 2026
- BSE official equity bhavcopy, 07 July 2026 (listing-day OHLC, ISIN, series MT, NewBrdLotQty) · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
GenXAI Analytics
Enterprise performance management and ERP implementation services (Anaplan and SAP) with data engineering and analytics
Listed 12 Jun 2026 · SME
- Price band
- ₹110 – ₹116
- Listing gain
- down 20.0%
- Score
- 80/100
Merritronix
Contract electronics manufacturing (PCB assembly and box-build) for defence and aerospace systems
Listed 8 Jun 2026 · SME
- Price band
- ₹141 – ₹149
- Listing gain
- up 90.0%
- Score
- 79/100
ENS Enterprises
Digital commerce enablement, custom software and cloud services
Listed 21 Aug 2026 · SME
- Price band
- ₹87 – ₹92
- Listing gain
- up 4.3%
- Score
- 90/100