Nepali Entrepreneur’s Company Listed on Indian Stock Market for the First Time
June 25, Kathmandu – Indian cybersecurity firm Kratikal Tech Limited, co-founded by Nepali entrepreneur Deep Jung Thapa, has been listed on the Mumbai Stock Exchange (BSE) through its initial public offering (IPO). This marks the first time a company founded by a Nepali has been listed on the Indian stock market. Thapa, a permanent resident of Khotang, serves as the co-founder and Chief Operating Officer (COO) of the company. The IPO saw an overwhelming response, with demand exceeding supply by 205 times. Headquartered in Noida, India, Kratikal Tech is an artificial intelligence (AI)-based cybersecurity company whose IPO opened on Ashad 16 and closed on Ashad 18 on the Nepali calendar. The company was listed under the BSE’s SME platform and has received significant attention from the Indian capital market.
The company was established in 2013 by Deep Jung Thapa, Pawan Kumar, and Paritosh Kumar while they were pursuing their BTech studies at Motilal Nehru National Institute of Technology (MNNIT) in Allahabad. They graduated in 2015, and Thapa stated that he joined the company full-time in 2017 after successfully raising the first round of funding. Prior to this, he worked briefly as a product manager at Paytm. Currently, the company provides AI-driven cybersecurity solutions. Following the successful IPO, Thapa described the journey from a village in Khotang to the BSE as a dream come true.
Thapa emphasized that the trust garnered from investors has injected new energy into the company’s vision and journey. The fresh capital will be used to expand globally, develop new technologies, and enhance cross-border cybersecurity solutions. He further stated that this IPO is just the beginning of their ambitious journey. The company’s founding is also an interesting story: after one co-founder’s email was hacked through a shared campus computer, the three friends recognized the necessity for cybersecurity and decided to establish the company. Since then, Kratikal Tech has been providing AI-powered software-as-a-service (SaaS) platforms, cybersecurity consulting, and regulatory compliance services. Their clients span banking and financial services, fintech, telecom, IT, healthcare, pharmaceuticals, e-commerce, and manufacturing sectors across India and the Middle East.
Starting with initial investment from four angel investors nearly nine years ago, the company’s current valuation has reached approximately NPR 323 crore. Funds raised through the IPO will be used for business expansion into international markets such as the United States and the Middle East. Kratikal Tech has also expanded its presence in Nepal by partnering with Kathmandu-based technology firm GAP Technologies.