Kratikal Tech is set to open its ₹39.69 crore initial public offering on June 30, adding another cybersecurity company to India’s growing SME market pipeline at a time when enterprises are increasing spending on AI-led security and compliance tools.
The Noida-based company’s public issue will close on July 2, with shares expected to list on the BSE SME platform on July 7. The price band has been fixed at ₹128 to ₹135 per share. The issue is entirely a fresh issue of up to 29.4 lakh equity shares, meaning the proceeds will go to the company and not to existing shareholders through an offer for sale.
Kratikal Tech operates in the cybersecurity and security awareness space, offering products and services that help companies detect digital threats, train employees against cyber risks and improve security posture. Its portfolio includes Threatcop, a platform focused on people security management, phishing simulation, email authentication and cyber awareness training. The company also provides vulnerability assessment, penetration testing, compliance support and other security services.
The IPO comes as artificial intelligence is reshaping the cybersecurity market. Companies are using AI to detect unusual behaviour, automate threat response, analyse attack patterns and strengthen security monitoring. At the same time, cybercriminals are also adopting AI tools to create more convincing phishing attacks, impersonation campaigns and automated intrusion attempts. This has increased demand for cybersecurity platforms that combine technology, employee training and continuous risk assessment.
According to market data, the IPO requires a minimum application of 2,000 shares, amounting to ₹2.70 lakh at the upper end of the price band. Beeline Capital Advisors is the book-running lead manager to the issue, while KFin Technologies is the registrar. Spread X Securities will act as the market maker for the IPO.
The company plans to use the proceeds to invest in its overseas subsidiaries, Threatcop FZ LLC in the UAE and Threatcop AI Inc in the US, for sales and marketing expenditure and workforce development. Funds will also be used for product development and general corporate purposes. The overseas investment plan signals Kratikal’s intent to expand beyond India and compete in global cybersecurity markets.
Kratikal’s financial performance has also supported its listing plan. The company reported revenue of ₹36.86 crore in FY26, compared with ₹21.15 crore in FY25. Profit rose to ₹6.14 crore in FY26 from ₹3.81 crore in the previous year. The growth reflects rising enterprise demand for cybersecurity solutions, although SME IPOs remain exposed to market volatility, limited liquidity and execution risks after listing.
The timing of the IPO is notable because cybersecurity has become a boardroom priority for Indian businesses. Sectors such as banking, financial services, insurance, healthcare, retail, technology and government services are increasing digital security investments as more operations move to cloud platforms, digital payments, mobile applications and AI-enabled workflows.
For marketers and customer experience teams, cybersecurity is also becoming more closely linked to brand trust. Data breaches, phishing incidents and identity misuse can directly affect consumer confidence, making security investments important not only for IT teams but also for business continuity and reputation management.
Kratikal’s IPO will test investor appetite for smaller AI and cybersecurity-focused companies in the public markets. While large technology firms continue to dominate enterprise security spending, specialised firms are finding opportunities in areas such as employee risk training, managed security, compliance and AI-enabled threat detection.
As digital adoption expands across Indian businesses, the demand for cybersecurity tools is expected to remain strong. Kratikal’s listing will be watched for how investors assess smaller technology companies seeking capital to scale products, talent and international operations.
The issue will open amid a busy SME calendar.