August 8, 2025
admin
What is the latest news of Icodex Publishing Solutions IPO?
The company will enter the market on 11 August 2025.
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 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chanakya’s IPO Review – Icodex Publishing Solutions by Paresh Gordhandas, CA & Research Analyst
📌 Icodex Publishing Solutions IPO Review
Icodex Publishing Solutions Limited, incorporated in 2018, operates in a niche space—software solutions and business process management for the scholarly publishing industry. Its offerings include SaaS platforms, AI-driven quality checks, editorial services, and IT infrastructure support.
On the positive side, the company caters to a specialized global market, with technology-driven solutions and a workforce of 116 employees. The niche positioning and rising demand for digital publishing automation are strong tailwinds. During last 3 years, prior to the IPO, its revenues have increased from Rs. 9.72 Cr to Rs.22.08 cr in 202425 whereas its EBIDTA has increased to Rs. 13.43 Cr from Rs. 1.95 Cr in 202223. The rise in the revenuw and EBIDTA have been very sharp.
However, as an SME IPO, liquidity may remain a concern. Investors must also evaluate profitability, scalability, and client concentration before subscribing.
Chanakya Verdict: So-so with Short-term listing gains remain uncertain.
Quicklinks
Icodex Publishing Solutions IPO GMP
Icodex Publishing Solutions IPO review
Icodex Publishing Solutions Limited develops software products and provides business process management services for the scholarly publishing industry. It offers SaaS platforms, automation tools, editorial services, and IT support.
The IPO size is Rs. 42.03 crore, consisting of a fresh issue of Rs. 34.64 crore and an offer for sale of Rs. 7.39 crore.
The IPO opens on August 11, 2025, and closes on August 13, 2025. Allotment is expected on August 14, 2025, with tentative listing on August 19, 2025.
The price band is set at Rs. 98 to Rs. 102 per share. The lot size is 1,200 shares, requiring a minimum retail investment of Rs. 2,35,200.
The company operates in a niche tech segment with growing demand for publishing automation. However, as an SME IPO, investors should weigh liquidity risks and financial performance before applying.
