Icodex Publishing Solutions SME: Check IPO Date, Live Subscription and Key Details
Icodex Publishing Solutions Limited is a software development and Business Process Management (BPM) company that provides end-to-end solutions for the scholarly and academic publishing industry. The company specializes in developing publishing products and software that streamline the entire publishing workflow, from manuscript preparation to print and digital content distribution. Its services include software development for the publishing and other industries, business process management for the publishing industry (e.g., editorial services, quality checks), and application support and IT management. The business model is focused on technology-driven solutions that help clients with publishing automation, content transformation, and workflow management.
Key Metrics
Check Live GMP
Timeline
IPO Opens
11 Aug
IPO Closes
13 Aug
Allotment
14 Aug
Listing
19 Aug
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 11 August 2025 | Subscription starts |
| IPO Close Date | 13 August 2025 | Subscription ends |
| Allotment Date | 14 August 2025 | Allotment |
| Listing Date | 19 August 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,44,800 |
SHNI (Min) | 3 | ₹3,67,200 |
SHNI (Max) | 8 | ₹9,79,200 |
BHNIAbove ₹10,00,000 | 9 | ₹11,01,600 |
IPO Objectives
- Purchase of new office premises.
- Purchase of hardware for new office.
- Working capital requirement.
- General Corporate Purpose.
Strengths
- They have a deep understanding of the publishing industry, with experienced leaders and a business model that uses AI, automation, and SaaS to offer a complete solution.
- The company has strong relationships with its customers, as shown by growing business from a major global client.
- They have a technology-focused business model, using modern tools like AI and SaaS to create efficient and flexible workflows for their clients.
- They have a healthy and consistent financial record, showing solid revenue and profit growth, especially in FY24 and FY25, and good return ratios.
- The company is in a very financially stable position with a low debt-to-equity ratio, which is a great sign for potential investors.
Weaknesses
- There's a significant client concentration risk, with a lot of their revenue coming from a single global publishing partner.
- The sudden increase in profits from FY24 onwards could be a concern, as it might not be sustainable and could be seen as an effort to make the company look more appealing before the IPO.
- Since a large part of their business is with international clients, the company is exposed to foreign exchange rate fluctuations, which could negatively impact their finances.
- The business is dependent on working capital, meaning they need timely access to funds to keep operations running and support future growth.
- They face the risk of their technology becoming outdated in the fast-paced software industry and also face competition from both new and established players.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 24.75 | 10.67 | 5.85 |
| Revenue (₹ Cr.) | 22.08 | 10.99 | 9.72 |
| PAT (₹ Cr.) | 8.96 | 4.4 | 1.81 |
| Net Worth (₹ Cr.) | 19.05 | 8.59 | 4.19 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Icodex Publishing | 14.25 | 17.81 | 47.51% | 19.05 |
| MPS Limited | 8.1 | 24.47 | 31.12% | 478 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1x | 1x | 33.08x |
| NII | 0.45x | 0.64x | 1.58x |
| S-HNI | 0.09x | 0.28x | 1.68x |
| B-HNI | 0.75x | 0.98x | 1.84x |
| RII | 0.33x | 1.13x | 4.65x |
| Total | 0.41x | 0.89x | 3.94x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,08,000 | 35,72,400 | 36.44 |
| NII | 19,03,200 | 30,13,200 | 30.73 |
| Small NII | 6,34,400 | 10,63,200 | 10.84 |
| Big NII | 10,62,400 | 19,50,000 | 19.89 |
| RII | 19,03,200 | 88,53,600 | 90.31 |
| Total | 39,14,400 | 1,54,39,200 | 157.48 |
Company Details
- Icodex Publishing Solutions Ltd.
- 102, First Floor, Suman Business Park, Kalyani Nagar, Viman Nagar, Pune, Maharashtra-411014
- +91 8856907928
- cs@icodexsolutions.com
- https://icodexsolutions.com/
Registrar Details
- Cameo Corporate Services Limited
- +91-44-28460390
- ipo@cameoindia.com
- https://ipo.cameoindia.com/