Subscription Tally Day 2
| Size Rs. 39.93 Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| 1.00 | 0.64 | 1.13 | 0.89 | 979 |
| Subscription Review: Poor subscription on the second day |
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About Icodex Publishing Solutions
Incorporated in 2018, Icodex Publishing Solutions Limited is a technology-driven company engaged in software product development and business process management, specifically for the global scholarly publishing industry.
The company develops software tools that streamline the entire publishing workflow—from manuscript submission to final digital and print delivery. Its core services include Software-as-a-Service (SaaS) platforms for publishers, automation tools, ERP systems, and customized publishing solutions.
In addition, the company offers Business Process Management (BPM) services such as editorial support, AI-powered quality checks, invoice processing, and print distribution support. Icodex also provides Application Support & IT Management, including server setup, infrastructure configuration, and technical support.
As of January 31, 2025, the company had a team of 116 employees, supporting publishing clients globally across multiple service verticals.
Icodex Publishing Solutions IPO Details
|
Sector: Healthcare Products |
|
| IPO opens on | 11 August 2025 |
| IPO closes on | 13 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 41,20,800 Shares / Rs 42.03 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 206,400 Shares |
| Net offer to Public | 39,14,400 Shares Rs. 39.93 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 98-102 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Maker | 2,06,400 (5.01%) |
| QIB | 1,08,000 (2.62%) |
| NII (HNI) | 19,03,200 (46.19%) |
| Retail | 19,03,200 (46.19%) |
| Total | 41,20,800 (100.00%) |
How shares can be applied?
| Application | Lots | Shares | Amount Rs. |
| Retail(Min) | 2 | 2,400 | 2,44,800 |
| Retail (Max) | 2 | 2,400 | 2,44,800 |
| S-HNI (Min) | 3 | 3,600 | 3,67,200 |
| S-HNI (Max) | 8 | 9,600 | 9,79,200 |
| B-HNI (Min) | 9 | 10,800 | 11,01,600 |
Who are the Promoters of Icodex Publishing Solutions IPO?
The promoters hold 88.24% of the pre-IPO capital
What are the Objects of Icodex Publishing Solutions IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Purchase of new office premises Rs.16.70 Cr.
+Purchase of hardware for new office Rs.1.12 Cr.
+Working capital requirement Rs. 5.20 Cr.
+General Corporate purposes
Icodex Publishing Solutions IPO Timetable
Tentative timetable |
|
| IPO opens on | 11 August 2025 |
| IPO Closes on | 13 August 2025 |
| IPO Allotment on | 14 August 2025 |
| Refund Initiation | 18 August 2025 |
| Credit of Shares | 18 August 2025 |
| Listing on | 19 August 2025 |
| Registered Office of the Company Icodex Publishing Solutions Ltd. 102, First Floor, Suman Business Park, Kalyani Nagar, Viman Nagar, Pune, Maharashtra, 411014 |
| Lead Managers of this IPO Indcap Advisors Pvt ltd |
| Who is the Registrar to the IPO? Cameo Corporate Services ltd |
Icodex Publishing Solutions Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 24.75 | 10.67 | 5.85 |
| Total Income | 22.08 | 10.99 | 9.72 |
| Profit After Tax | 8.96 | 4.4 | 1.81 |
| EBITDA | 13.43 | 4.26 | 1.95 |
| Net Worth | 19.05 | 8.59 | 4.19 |
| Reserves and Surplus | 6.81 | 8.59 | 4.19 |
| Total Borrowing | 2.99 | 0.88 | 0.02 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 47.51% |
| ROCE | 110.07% |
| Debt/Equity | 0.16 |
| RoNW | 47.02% |
| PAT Margin | 40.56% |
| EBITDA Margin | 61.39% |
| Price to Book Value | 14.25 |
| EPS | 5.73 |
| PE Ratio | 17.87 |
How Icodex Publishing Solutions IPO compares with the Peers?
| Company Name | P/E (x) |
| Icodex Publishing Solutions Limited | 17.87 |
| MPS Limited | 38.02 |
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