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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials
Investment Thesis
Globe Secure Technologies Limited is a Mumbai-based unlisted cybersecurity firm incorporated in 2016. While the sector fundamentals are strong with growing enterprise security demand in India, the company's private financial disclosures and competitive landscape present risks for prospective investors.
Pros
Cons
Business Segments
Cyber Security
Cybersecurity services: cyber forensics, data security, email security, protection of computer networks; enterprise security consulting.
Integrated Enterprise Solutions
Server consolidation, transformation, hosting, Infrastructure-as-a-Service, cloud solutions, application modernization.
Managed Services
Managed IT services, big data analytics, cloud-based solutions for enterprise clients.
Revenue Model
Globe Secure Technologies generates revenue by providing cybersecurity and IT security services to corporate and institutional clients in India, likely through service contracts and managed security service engagements.
Detailed Analysis
Growth Plans
Growing enterprise cybersecurity spending in India driven by increasing cyber threats and regulatory requirements
Government mandates on data protection and cybersecurity compliance creating demand for specialist service providers
Industry Tailwinds
Growing enterprise cybersecurity spending in India driven by increasing cyber threats and regulatory requirements
Recent Developments
Globesecure Technologies Limited listed on NSE SME at ₹29/share; IPO raised ₹10 Cr from 34,92,000 equity shares.
June 2, 2022Comparable Companies
QUICKHEAL · ~1200 Cr
TCS · ~1400000 Cr
Frequently Asked Questions
About Globe Secure Technologies Limited
Globe Secure Technologies Limited is a Mumbai-based cybersecurity and IT security services company incorporated on 9 December 2016. With CIN L72200MH2016PLC272957, the company provides managed detection and response (MDR) services, cloud security solutions, data protection services, and cybersecurity consulting to enterprises. The company is empaneled by CERT-IN (India's national cybersecurity agency), giving it credibility for government and critical infrastructure clients. The company raised Rs 10.12 crore through an IPO in May 2022, listing on the NSE SME platform (ticker: GSTL). Revenue for March 2025 was Rs 16.91 crore. However, the company has faced financial challenges with a net loss of Rs 2.87 crore in March 2025 and a 41% sales decline year-to-date, indicating business headwinds. Operational concerns include a 695-day working capital cycle indicating severe collection delays, and promoter pledging of 75.5% of holdings, which raises governance concerns. The cybersecurity market in India is growing rapidly, but Globe Secure faces stiff competition from established players like Quick Heal Technologies, Tata Consultancy Services, and international cybersecurity firms. The company needs to resolve its working capital issues and restore revenue growth to establish a sustainable business model.
Key Milestones
Incorporated February 19, 2016 as Globesecure Technologies Private Limited in Mumbai, Maharashtra
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You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Government mandates on data protection and cybersecurity compliance creating demand for specialist service providers
Industry Headwinds
Inability to compete with larger, better-funded cybersecurity firms
Lack of public financial disclosures limits ability to assess true business health
Faces intense competition from established global and domestic cybersecurity firms such as Quick Heal, Securonix, and international players
Source: Media Reports / Public Records
As an unlisted company, limited public financial disclosures make investor due diligence challenging
Source: Media Reports / Public Records
Faces intense competition from established global and domestic cybersecurity firms such as Quick Heal, Securonix, and international players
As an unlisted company, limited public financial disclosures make investor due diligence challenging
Converted to Public Limited Company August 2, 2019 (CIN: L72200MH2016PLC272957)
IPO listed on NSE SME on June 2, 2022 (symbol: GSTL) at ₹29/share; raised ₹10 Cr
TTM operating revenue ₹48.68 Cr; market cap ₹51.8 Cr; registered at A-309 Sagar Tech Plaza, Andheri Kurla Road, Mumbai 400072

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