Nepali Entrepreneur Dip Jung Thapa’s Kratikal Tech makes history with 205-fold oversubscribed IPO on BSE

KATHMANDU: Kratikal Tech Limited, an India-based artificial intelligence (AI)-powered cybersecurity company co-founded by Nepali entrepreneur Dip Jung Thapa, has achieved a major milestone after its Initial Public Offering (IPO) was oversubscribed by 205.08 times on the Bombay Stock Exchange (BSE), becoming what is believed to be the first company founded by a Nepali entrepreneur to be listed on India’s stock market.

The IPO opened for subscription on June 30 and closed on July 2, drawing overwhelming interest from investors and underscoring growing confidence in the company’s cybersecurity business and future growth prospects.

Founded in 2013 in Noida, India, by three college friends—Dip Jung Thapa, Pavan Kumar and Paratosh Kumar—Kratikal Tech has evolved into one of India’s emerging cybersecurity firms, offering AI-driven security solutions, regulatory compliance services and cybersecurity consulting to enterprises across multiple industries.

Thapa, who hails from Khotang district in eastern Nepal, serves as the company’s Co-Founder and Chief Operating Officer (COO). A graduate in B.Tech from Motilal Nehru National Institute of Technology (MNNIT), he previously worked as a Product Manager at Paytm before venturing into entrepreneurship.

Reflecting on the company’s successful public listing, Thapa described the achievement as a significant milestone in a journey that began over a decade ago.

“From the hills of Khotang to the trading floor of the Bombay Stock Exchange, this journey has been nothing short of extraordinary. Seeing our vision validated by such massive investor enthusiasm is deeply humbling,” Thapa said.

He added that the IPO marks the beginning of a new phase for the company rather than the culmination of its journey.

“This IPO is not the destination but the launchpad. With fresh capital, we are now geared to accelerate our global expansion, strengthen our innovative platforms and create even greater impact in cybersecurity across borders,” he said.

Kratikal Tech’s origins date back to 2013 when one of its founders became a victim of an email hacking incident. The experience exposed the growing need for effective cybersecurity solutions and inspired the three founders to establish a company focused on providing practical, enterprise-grade digital security services.

Since then, the company has developed an AI-powered Software-as-a-Service (SaaS) cybersecurity platform that helps organizations identify vulnerabilities, strengthen cyber resilience and comply with evolving regulatory requirements.

Its client portfolio spans a wide range of industries, including banking, financial services and insurance (BFSI), fintech, telecommunications, information technology and IT-enabled services (IT/ITES), healthcare, pharmaceuticals, e-commerce and manufacturing. The company serves customers across India as well as international markets.

Over the years, Kratikal Tech has secured funding from four angel investors, enabling it to expand its product offerings and strengthen its position in the rapidly growing cybersecurity industry.

Following the successful IPO, the company plans to use the fresh capital to accelerate international expansion, with particular focus on entering the United States and Middle Eastern markets.

The company is also strengthening its presence in Nepal through a strategic partnership with GAP Technologies, aimed at enhancing cybersecurity capabilities and promoting advanced digital security solutions in the country.

The successful listing is being viewed as a landmark achievement for Nepal’s startup ecosystem, demonstrating that entrepreneurs with Nepali roots can build globally competitive technology companies capable of attracting substantial investor confidence in international capital markets.

As cyber threats continue to grow worldwide and demand for AI-powered security solutions increases, Kratikal Tech aims to leverage its new capital base to expand its technology portfolio, strengthen research and development, and scale operations across new geographies.

The oversubscription of more than 205 times highlights strong investor appetite for technology companies specializing in cybersecurity, a sector that has witnessed rapid growth amid rising digital transformation and increasing cyber risks across industries.

For Nepal’s emerging entrepreneurial community, Thapa’s achievement represents a significant milestone, showcasing the potential of Nepali founders to build globally recognized technology ventures beyond the country’s borders.