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Kratikal Tech Ltd IPO
Status: Closed
Overview
IPO date
30 Jun 2026 to 02 Jul 2026
Face value
₹ 10 per share
Price
₹ 128 to ₹135 per share
Issue Size
2,940,000 shares
(aggregating up to ₹ 39.69 Cr)
(aggregating up to ₹ 39.69 Cr)
Allotment Date
03 Jul 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
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T&C*
Strengths vs Risks of Kratikal Tech Ltd
Know the pros & cons
Strengths
- Complete People security management platform
- Real-time DMARC with Sender ID Visibility.
- Comprehensive Coverage Across Security Domains.
- AI-Driven Technology Platform.
- CERT-In Empanelment and Regulatory Authority.
- Experienced Management and Technical Teams.
Risks
- The company Industry is highly employee intensive industry. Thus, Employees Benefit expenses constitute a major portion of its expenses. Such significant increase in this cost could lead to lower profitability.
- The company business is subject to evolving laws regarding privacy, data protection and other related matters. Many of these laws are subject to change and could result in claims, changes to its business practices, monetary penalties, increased cost of operations, or declines in customer growth or engagement, which may harm the company business.
- The company revenues is geographically concentrated with top six states contributing majority of the total revenue, and any adverse developments in these regions could adversely affect its business and financial performance.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- If the company does not successfully anticipate market needs or develop and introduce new solutions that meet users' needs on a timely basis, its may not be able to compete effectively and the company revenue, reputation, financial conditions, results of operations and cash flows may be adversely affected.
- The company pricing structures does not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, then certain of its projects could be or become unprofitable.
- Intense competition in the market for technology services could affect the company pricing, which could reduce its share of business from clients and decrease the company revenues and profitability.
- A significant portion of the company revenues is generated during the last quarter of the financial year, and any delay or reduction in customer spending during this period may materially affect its annual financial performance.
- There has been certain instances of regulatory non-compliances or delays or errors in the past. The company may be subject to regulatory actions and penalties for any such past or future non-compliance or delays or errors and its business, financial condition and reputation may be adversely affected.
- The company investments in overseas subsidiaries may not yield the expected benefits, and any failures of such subsidiaries to operates effectively could adversely affect its growth strategy and financial performance.
- The company revenues is derived from both government and non-government customers, and any adverse changes in procurement processes, budgets or policies affecting either segment may impact its business and financial performance.
- The company has not entered into any binding marketing, sales or human resource development agreements for initiatives proposed to be funded from the Issue proceeds, which may delay or adversely affect execution of its growth plans.
- Failures to offer customer support in a timely and effective manner may adversely affect the company relationships with its customers.
- Any failures to adequately test, upgrade, or maintain its Threatcop products and AutoSecT platforms may result in service deficiencies and client dissatisfaction.
- The company revenues is derived from customers across various industries, and any adverse developments in key industries served by its may reduce demand for the company services and adversely affect its results of operations.
- The company may be liable to its clients for damages caused by system failures, disclosure of confidential information or data security breaches, which could harm the company reputation and cause its to lose clients.
- The company business is dependent on a limited Number of key product and service revenue streams and any adverse impact on these could materially affect its results of operations and financial condition.
- The company has certain outstanding litigation against its, an adverse outcome of which may adversely affect the company business, reputation and results of operations.
- The company has received unsecured loans from its Director, and any requirement to repay such loans may adversely affect the company liquidity and financial position.
- The company may be exposed to risks arising from inadequate internal data backup, disaster recovery, or business continuity planning.
- The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
- Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
- Information Technology (IT) Audit requirements from Government organizations, Statutory Bodies, PSUs, Municipalities etc. are typically awarded to the company on satisfaction of prescribed pre-qualification criteria, on being empanelled and/or after following a competitive bidding process. Its business and financial condition may be adversely affected if the orders is not awarded to the company.
- The company business is dependent on the reliability and scalability of its internal IT infrastructure, and any system failures may disrupt operations.
- The company success is dependent on its Promoters, management team and skilled manpower. The company inability to attract and retain key personnel or the loss of services of its Promoter or Managing Director, Whole time Directors and Executive Directors may has an adverse effect on the company business prospects.
- Significant security breaches in the company software, data and network infrastructure and fraud could adversely impact its business.
- The properties used by the Company for the purpose of its operations is not owned by the company. Any termination of the relevant lease agreements or rent agreements in connection with such properties or the company failures to renew the same could adversely affect its operations.
- The company derives a significant portion of its revenues from India and from other countries through exports and are exposed to foreign exchange fluctuation risks.
- The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain such registrations would adversely affect its operations, results of operations and financial condition.
- Any non-compliance with regulatory standards or loss of empanelment, approvals or certifications could adversely affect the company business, financial condition and results of operations.
- There may be potential conflict of interests between the Company, subsidiary companies and Group Company.
- If the company cannot attract and retain highly-skilled IT professionals, its ability to obtain, manage and staff new projects and to continue to expand existing projects may result in loss of revenue and an inability to expand its business.
- The company contingent liabilities as stated in its Restated Financial Statements could affect the company financial condition.
- The company may not be able to prevent unauthorised use of trademarks obtained/ applied for by third parties, which may lead to the dilution of its goodwill.
- The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategy could has an effect on its business, results of operations and financial condition.
- The company has entered into and may enter into related party transactions in the future also.
- If there is a change in policies related to tax, duties or other such levies applicable to the company, it may affect its results of operations.
- The company ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- The company Promoters and Directors hold Equity Shares in its Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The company insurance coverage may not be adequate to protect its against all potential losses to which the company may be subject and this may has a material effect on its business and financial condition.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems and major fraud, lapses of internal control or system failures could adversely impact the company's business.
- Industry Overview section of this Red Herring Prospectus contains information from the Dun & Bradstreet Report which the company commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- The company business is highly dependent on electricity, and any disruption or failures in the power supply may affect its operations.
- The company has not identified any alternate source of raising the fund for investments in subsidiaries for sales & marketing activities and product development as well as investment in product development, mentioned as its `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Portion of the company Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Issue Proceeds. As on date the company has not identified the use of such funds.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Issue Price.
- The company will continue to be controlled by its Promoters and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of its shareholders.
- The company Equity Shares has never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- The Issue Price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- A third party could be prevented from acquiring control of the Company because of anti-takeover provisions under Indian law.
- None of the Promoters of the Company has experience of being a promoter of a public listed company.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy the company capital needs, which its may not be able to procure and any future equity offerings by the company.
Kratikal Tech Ltd Peer Comparison
Understand the company’s industry standing
Kratikal Tech Ltd
AAA Technologies Limited
Accedere Limited
Face Value
10
10
10
Standalone / Consolidated
Consolidated
Standalone
Consolidated
Total Income Rs. Cr.
36.72
20.38
4.15
EPS-Basis
7.86
1.61
1.37
EPS-Diluted
7.85
1.61
1.37
NAV Per Share
29.43
24.14
10.98
P/E-Basic EPS
---
55.38
44.04
P/E-Diluted EPS
---
---
---
RONW(%)
25.57
6.66
12.51
Latest NAV Period
---
---
---
Latest NAV
---
---
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How to check the allotment status of Kratikal Tech Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 30 Jun 2026 & closes on 02 Jul 2026.
Kratikal Tech Limited was originally incorporated as 'Kratikal Tech Private Limited' as a Private Limited company, vide Certificate of Incorporation dated November 13, 2013 with the RoCs, Uttar Pradesh. Subsequently, Company was converted to Public Limited reflecting the change in name to 'Kratikal Tech Limited' dated September 23, 2025 obtained from the Central Processing Centre.
The Company operates through two integrated business lines: AI Driven People Security Management, offered through Threatcop product suite offered under Threatcop brand (Products); and Technology and Process Security Services, offered under the Kratikal brand, encompassing Vulnerability Assessment and Penetration Testing (VAPT), application and infrastructure security, red-team exercises, and governance, risk and compliance (GRC) services, all supported by its AI-driven VMDR (Vulnerability Management, Detection & Response) platform and AutoSecT (Services).
The Company has developed Threatcop, a people security management suite and AutoSecT, an AI-driven pentest and VMDR platform to its service portfolio. AutoSecT autonomously scans network, cloud, web, mobile, and API assets, prioritizes vulnerabilities based on risk, and provides AI-driven patch recommendations, supported by analytics dashboards for security teams and a dedicated CISO dashboard. The Company has undertaken AI driven VMDR, secure code reviews, and vulnerability assessments across diverse customer environments. Its solutions are used by small businesses and large enterprises across sectors such as banking, financial services and insurance (BFSI), fintech, telecom, IT/ITES, healthcare, pharmaceuticals, e-commerce, and manufacturing, both in India and international markets. Kratikal is a CERT-In Empanelled Security Auditor and is widely recognized for its VAPT, compliance, and virtual CISO (vCISO) services. Additionally, the Company is empanelled by NSE to perform system audits for trading members.
Company has filed a Draft Red Herring Prospectus with SEBI and is planning the IPO aggregating fresh issue of 30,00,000 equity shares of Rs 10 each.
Kratikal Tech Ltd IPO will close on 02 Jul 2026.
- Complete People security management platform
- Real-time DMARC with Sender ID Visibility.
- Comprehensive Coverage Across Security Domains.
- AI-Driven Technology Platform.
- CERT-In Empanelment and Regulatory Authority.
- Experienced Management and Technical Teams.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Pavan Kumar | 3613813 | 44.28 | 3613813 | 32.56 |
| 2 | Paratosh Kumar | 1605271 | 19.67 | 1605271 | 14.46 |
| 3 | Dip Jung Thapa | 678863 | 8.32 | 678863 | 6.12 |
| 4 | Lakhendra Kushwah | 16000 | 0.2 | 16000 | 0.14 |
| 5 | Akash Kumar Bansal | 8800 | 0.11 | 8800 | 0.08 |
- The company Industry is highly employee intensive industry. Thus, Employees Benefit expenses constitute a major portion of its expenses. Such significant increase in this cost could lead to lower profitability.
- The company business is subject to evolving laws regarding privacy, data protection and other related matters. Many of these laws are subject to change and could result in claims, changes to its business practices, monetary penalties, increased cost of operations, or declines in customer growth or engagement, which may harm the company business.
- The company revenues is geographically concentrated with top six states contributing majority of the total revenue, and any adverse developments in these regions could adversely affect its business and financial performance.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- If the company does not successfully anticipate market needs or develop and introduce new solutions that meet users' needs on a timely basis, its may not be able to compete effectively and the company revenue, reputation, financial conditions, results of operations and cash flows may be adversely affected.
- The company pricing structures does not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, then certain of its projects could be or become unprofitable.
- Intense competition in the market for technology services could affect the company pricing, which could reduce its share of business from clients and decrease the company revenues and profitability.
- A significant portion of the company revenues is generated during the last quarter of the financial year, and any delay or reduction in customer spending during this period may materially affect its annual financial performance.
- There has been certain instances of regulatory non-compliances or delays or errors in the past. The company may be subject to regulatory actions and penalties for any such past or future non-compliance or delays or errors and its business, financial condition and reputation may be adversely affected.
- The company investments in overseas subsidiaries may not yield the expected benefits, and any failures of such subsidiaries to operates effectively could adversely affect its growth strategy and financial performance.
- The company revenues is derived from both government and non-government customers, and any adverse changes in procurement processes, budgets or policies affecting either segment may impact its business and financial performance.
- The company has not entered into any binding marketing, sales or human resource development agreements for initiatives proposed to be funded from the Issue proceeds, which may delay or adversely affect execution of its growth plans.
- Failures to offer customer support in a timely and effective manner may adversely affect the company relationships with its customers.
- Any failures to adequately test, upgrade, or maintain its Threatcop products and AutoSecT platforms may result in service deficiencies and client dissatisfaction.
- The company revenues is derived from customers across various industries, and any adverse developments in key industries served by its may reduce demand for the company services and adversely affect its results of operations.
- The company may be liable to its clients for damages caused by system failures, disclosure of confidential information or data security breaches, which could harm the company reputation and cause its to lose clients.
- The company business is dependent on a limited Number of key product and service revenue streams and any adverse impact on these could materially affect its results of operations and financial condition.
- The company has certain outstanding litigation against its, an adverse outcome of which may adversely affect the company business, reputation and results of operations.
- The company has received unsecured loans from its Director, and any requirement to repay such loans may adversely affect the company liquidity and financial position.
- The company may be exposed to risks arising from inadequate internal data backup, disaster recovery, or business continuity planning.
- The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
- Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
- Information Technology (IT) Audit requirements from Government organizations, Statutory Bodies, PSUs, Municipalities etc. are typically awarded to the company on satisfaction of prescribed pre-qualification criteria, on being empanelled and/or after following a competitive bidding process. Its business and financial condition may be adversely affected if the orders is not awarded to the company.
- The company business is dependent on the reliability and scalability of its internal IT infrastructure, and any system failures may disrupt operations.
- The company success is dependent on its Promoters, management team and skilled manpower. The company inability to attract and retain key personnel or the loss of services of its Promoter or Managing Director, Whole time Directors and Executive Directors may has an adverse effect on the company business prospects.
- Significant security breaches in the company software, data and network infrastructure and fraud could adversely impact its business.
- The properties used by the Company for the purpose of its operations is not owned by the company. Any termination of the relevant lease agreements or rent agreements in connection with such properties or the company failures to renew the same could adversely affect its operations.
- The company derives a significant portion of its revenues from India and from other countries through exports and are exposed to foreign exchange fluctuation risks.
- The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain such registrations would adversely affect its operations, results of operations and financial condition.
- Any non-compliance with regulatory standards or loss of empanelment, approvals or certifications could adversely affect the company business, financial condition and results of operations.
- There may be potential conflict of interests between the Company, subsidiary companies and Group Company.
- If the company cannot attract and retain highly-skilled IT professionals, its ability to obtain, manage and staff new projects and to continue to expand existing projects may result in loss of revenue and an inability to expand its business.
- The company contingent liabilities as stated in its Restated Financial Statements could affect the company financial condition.
- The company may not be able to prevent unauthorised use of trademarks obtained/ applied for by third parties, which may lead to the dilution of its goodwill.
- The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategy could has an effect on its business, results of operations and financial condition.
- The company has entered into and may enter into related party transactions in the future also.
- If there is a change in policies related to tax, duties or other such levies applicable to the company, it may affect its results of operations.
- The company ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- The company Promoters and Directors hold Equity Shares in its Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The company insurance coverage may not be adequate to protect its against all potential losses to which the company may be subject and this may has a material effect on its business and financial condition.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems and major fraud, lapses of internal control or system failures could adversely impact the company's business.
- Industry Overview section of this Red Herring Prospectus contains information from the Dun & Bradstreet Report which the company commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- The company business is highly dependent on electricity, and any disruption or failures in the power supply may affect its operations.
- The company has not identified any alternate source of raising the fund for investments in subsidiaries for sales & marketing activities and product development as well as investment in product development, mentioned as its `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Portion of the company Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [?] % of the Issue Proceeds. As on date the company has not identified the use of such funds.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Issue Price.
- The company will continue to be controlled by its Promoters and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of its shareholders.
- The company Equity Shares has never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- The Issue Price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- A third party could be prevented from acquiring control of the Company because of anti-takeover provisions under Indian law.
- None of the Promoters of the Company has experience of being a promoter of a public listed company.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy the company capital needs, which its may not be able to procure and any future equity offerings by the company.
The Issue type of Kratikal Tech Ltd is Book Building - SME.
The minimum application for shares of Kratikal Tech Ltd is 2000.
The total shares issue of Kratikal Tech Ltd is 2940000.
Initial public issue of 29,40,000 equity shares of face value of Rs. 10/- each of Kratikal Tech Limited ("KTL") or the "Company" or the "Issuer") for cash at a price of Rs. 135 per equity share including a share premium of Rs. 125 per equity share (the "Issue Price") aggregating to Rs. 39.69 Crores ("the Issue"), of which 1,50,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 135 per equity share including a share premium of Rs. 125 per equity share aggregating to Rs. 2.03 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Net issue of 27,90,000 equity shares of face value of Rs. 10/- each at a price of Rs. 135 per equity share including a share premium of Rs. 125 per equity share aggregating to Rs. 37.67 Crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.49% and 25.13% respectively, of the post issue paid up equity share capital of the company.
Price Band: Rs. 135/- per equity share of face value of Rs. 10/- each.
The floor price is 13.50 times of the face value.
Bids can made for a minimum of 2,000 equity shares and in multiples of 1,000 equity shares thereafter.