Kratikal Tech Limited is gearing up for its Initial Public Offering (IPO). It is a prominent cybersecurity firm offering AI-driven, SaaS-based security solutions and compliance services.
The public issue will open for subscription on Tuesday, June 30, 2026, and close on Thursday, July 2, 2026.
The company, which specializes in vulnerability management platforms like Threatcop and AutoSecT, aims to raise approximately ₹39.69 Crores at a price band of ₹128 – ₹135 per share through a completely fresh issue.
The proceeds will be strategically deployed to expand its international footprint and fuel product development.
In this article, prospective investors will find essential details including the Kratikal Tech IPO Grey Market Premium (GMP) today, overall subscription status, expected allotment dates, price band information, and a comprehensive review of its financial health.
Briefs of Kratikal Tech IPO Details:
- Price Band: ₹128 – ₹135 per equity share
- Face Value: ₹10 per share
- IPO Open / Close Dates: June 30, 2026 – July 2, 2026
- Lot Size: 1,000 Shares (Note: Retail Minimum Application is 2 Lots / 2,000 Shares)
- Issue Size: 29,40,000 Equity Shares / ~₹39.69 Crores
- Fresh Issue: 100% Fresh Issue
- Registrar: Kfin Technologies Ltd.
- Listing Exchange: BSE SME
Investors seeking more information regarding credit of shares, refunds or other allotment related issues can check our detailed guide on kfin allotment status and resolve their queries.
IPO Reservation:
Out of the total 29,40,000 shares in the offering, 1,50,000 shares are reserved for the Market Maker. The balance forms a net public offer of 27,90,000 shares, which will be allocated according to the following breakdown:
- QIB Portion: Up to 13,89,000 Equity Shares (Anchor Investors may be allocated up to 8,31,000 Equity Shares from this portion).
- NII (HNI) Portion: Not less than 4,23,000 Equity Shares.
- Retail (RII) Portion: Not less than 9,78,000 Equity Shares.
What is Today's Grey Market Premium (GMP) for the Kratikal Tech IPO?
For the latest GMP on this and other public issues, please visit our dedicated GMP hub page. Check more GMP studies: GMP vs Listing Gains April 2026 IPOs: A Data Analysis of 12 IPOs
Keep in mind that the Grey Market Premium fluctuates daily according to market demand. It remains an unofficial metric that is not regulated by SEBI, the NSE, or the BSE. Therefore, investors are advised against basing their investment decisions exclusively on the GMP.
What Are The Important Dates & Allotment Schedule for the Kratikal Tech IPO?
The essential schedule for the upcoming issue is provided here for investors preparing their financial allocations:
- IPO Open Date: Tuesday, June 30, 2026
- IPO Close Date: Thursday, July 2, 2026
- Basis of Allotment Date: Friday, July 3, 2026
- Refund Initiation Date: Monday, July 6, 2026
- Credit of Shares: Monday, July 6, 2026
- Listing Date: Tuesday, July 7, 2026
What Are The Objectives of Kratikal Tech IPO?
The capital generated from the fresh issue, net of expenses, will be deployed by the company toward the following strategic initiatives:
- Investment in Overseas Subsidiaries: A significant allocation of ₹23.08 Crores is directed towards Threatcop FZ LLC (UAE) and Threatcop AI Inc. (USA) to aggressively drive sales, marketing, and workforce expansion in international markets.
- Product Development: ₹9.23 Crores is earmarked for the continuous enhancement of proprietary cybersecurity platforms and hiring specialized tech personnel.
- General Corporate Purposes: The residual capital—limited to 15% of the gross proceeds—will be allocated toward managing ongoing operational requirements and establishing strategic alliances.
How is The Financial Performance of Kratikal Tech?
The following table summarizes the financial performance of the company based on restated consolidated financial statements.
(Figures in ₹ Crores)
Period Ended | FY 2025-26 | FY 2024-25 | FY 2023-24 |
Total Income | 36.86 | 21.15 | 13.28 |
Profit After Tax (PAT) | 6.14 | 3.81 | 3.20 |
EBITDA | 9.08 | 5.51 | 3.87 |
Total Borrowing | 0.01 | 0.01 | 0.03 |
Assets | 30.12 | 15.58 | 9.05 |
Note: The exact converted numbers from the source are rounded to two decimal places. Total Borrowings for FY25 and FY26 are approximately ₹0.005 Crores, effectively maintaining a debt-free status.
Source: RHP
Financial Analysis & Observations:
Total Income:
The company has demonstrated a robust and consistent upward trajectory in its revenue generation over the observed periods.
- Driven by growing corporate demand for AI-driven cybersecurity solutions, total income nearly doubled from ₹21.15 crores in FY25 to ₹36.86 crores in FY26.
- This strong top-line momentum indicates sustained client acquisition and an expanding footprint in the high-spending BFSI and IT sectors.
·Profit After Tax (PAT):
Kratikal Tech has successfully scaled its operations while posting solid bottom-line profitability.
- After turning a profit of ₹3.20 crores in FY24, the company accelerated its net earnings to ₹6.14 crores by FY26.
- This consistent profitability reflects the company's ability to capitalize on the high margins of its SaaS products despite the heavy employee costs typical of the tech sector.
EBITDA:
Operational efficiency has improved markedly as the company achieved scale and optimized its fixed cost base.
- Operating earnings jumped impressively from ₹5.51 crores in FY25 to ₹9.08 crores in FY26.
- This steady EBITDA expansion highlights the strong operating leverage inherent in its asset-light software delivery model.
Total Borrowing:
The company operates with a pristine, virtually debt-free balance sheet, which significantly minimizes its financial risk profile.
- Total borrowings have remained negligible, staying below ₹0.03 crores consistently over the last three years.
- This near-zero debt structure protects the company from interest rate volatility and ensures that operating cash flows are cleanly reinvested into product development.
Assets:
The total asset base of the company has expanded rapidly to support its growing operational footprint and technological infrastructure.
- Total assets nearly doubled from ₹15.58 crores in FY25 to ₹30.12 crores by the end of FY26.
- This asset expansion primarily reflects the investments made into proprietary platforms like AutoSecT and Threatcop, alongside necessary working capital adjustments to serve a growing blue-chip clientele.
What Are the P/E Ratio and Peer Comparison?
The following calculation determines the P/E ratio based on the upper price band of ₹135 and the reported Basic EPS of ₹7.86 for the fiscal year ending March 31, 2026:
- Issue Price (Upper Band): ₹135
- EPS (FY26): ₹7.86
- P/E Ratio: ~17.18x
Peer Comparison Table (FY 2025-26 Data):
Name of Company | Revenue from Operations (₹ in Crores) | Basic EPS (₹) | P/E Ratio (x) | RoNW (%) |
Kratikal Tech Limited | 36.72 | 7.86 | 17.17 | 25.57 |
AAA Technologies Limited | 20.38 | 1.61 | 55.38 | 6.66 |
Accedere Limited | 4.15 | 1.37 | 44.04 | 12.51 |
Analysis:
Kratikal Tech Limited is entering the market at a highly attractive valuation.
Based on the upper issue price band and its FY26 earnings, the P/E ratio stands at approximately 17.17x. When compared to its listed industry peers, AAA Technologies Limited trades at a multiple of 55.38x, while Accedere Limited commands a multiple of 44.04x.
Beyond the reasonable P/E ratio, Kratikal’s capital efficiency truly stands out.
The company reported a superior Return on Net Worth (RoNW) of 25.57%, significantly outpacing both AAA Technologies (6.66%) and Accedere Limited (12.51%).
This combination of a lower valuation multiple with a vastly stronger return profile indicates that the company is entering the market on a structurally sound fundamental footing, generating robust profits from shareholder equity.
What is The Industry Outlook of Kratikal Tech Limited?
Growth Potential: The global and domestic cybersecurity markets are expanding rapidly due to widespread digital transformation and increasingly stringent data protection laws like the DPDP Act.
Market Trends: There is a rising reliance on automated, AI-driven security tools to combat sophisticated cyber threats and minimize human error, positioning specialized SaaS platforms like Threatcop favorably.
What Are The Strengths and Risks of Kratikal Tech IPO?
Strengths:
- Government Certifications: Being empanelled with CERT-In serves as a massive competitive moat, granting exclusive access to secure government and BFSI audits.
- Virtually Debt-Free: A clean balance sheet provides immense financial flexibility and shields the company from interest rate shocks.
- High Return Ratios: An RoNW of over 25% highlights the management's capability to generate strong returns on deployed capital.
Risks:
- High Employee Costs: As a knowledge-based industry, the company spends heavily on talent retention; employee expenses consumed over 38% of operational revenue in FY26.
- Client Concentration: A significant portion of revenue relies on a few key clients, and losing major accounts could impact cash flows.
- Seasonal Volatility: The business experiences strong quarterly seasonality, with a large chunk of revenue typically booked in the final quarter, exposing it to short-term earnings fluctuations.
Key Considerations for Investors
- Minimum Application: The lot size is 1,000 Shares. Based on the data provided, the minimum application for Retail Individual Investors requires bidding for 2 Lots (2,000 Shares), amounting to ₹2,70,000. Note: This investment amount exceeds the standard ₹2 Lakh retail limit, which implies that this category effectively targets Small-HNI investors.
- Valuation vs. Risk: At ~17.1x P/E, the pricing leaves significant room for upside when compared to industry peers, especially given the company's superior return ratios and debt-free status.
- Global Expansion Focus: The planned deployment of IPO funds directly into the US and UAE subsidiaries is a bold growth strategy but carries execution risks associated with cross-border operations.
Important iPO Resources:
1. IPO Performance After Listing – October–December 2025 IPOs (Q3 FY26 Returns Analysis)
3. Upcoming and live IPOs of 2026
4. IPO Glossary: 100+ Important Terms Every Investor Should Know
5. IPO Allotment Status – How to Check Allotment Status of IPO Shares
Key Takeaways
- IPO Price: ₹135 per share (Upper Band).
- Min Investment: ₹2,70,000 (2,000 Shares).
- Valuation: P/E of ~17.17x .
- Financials: Revenue ₹36.86 Cr (FY26); Debt-Free Status.
- Listing: BSE SME platform on July 7, 2026.
FAQs on Kratikal Tech IPO
What is the latest GMP value for the Kratikal Tech IPO as of today?
The Grey Market Premium is a constantly shifting measure of market sentiment. For the most current figures, please refer to our specialized GMP section.
What is the price band of Kratikal Tech IPO?
The price range for this offering has been set between ₹128 and ₹135 per equity share.
When can investors expect the allotment results for the Kratikal Tech IPO?
Investors can expect the share allotment results to be finalized on Friday, July 3, 2026.
How can investors verify their share allotment status for the Kratikal Tech IPO?
Status tracking is available to investors through the official website of the registrar, Kfin Technologies Ltd., as well as the BSE IPO allotment portal.
What is the official exchange listing date for the Kratikal Tech IPO?
The company has tentatively scheduled its official stock exchange listing for Tuesday, July 7, 2026.
Investment Perspective on Kratikal Tech IPO
Kratikal Tech offers an attractive entry into the high-growth cybersecurity SaaS segment with exceptional capital efficiency and a debt-free balance sheet.
While the valuation is highly compelling relative to peers, the high minimum investment ticket size and the sector's inherent reliance on expensive specialized talent require careful consideration by prospective investors.
Disclaimer:
The information provided in this article is solely for educational purposes. Investors are advised to consult with a SEBI-registered investment advisor prior to making any financial commitments.
