| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹42.03 Cr |
| Reserved for Market Maker | ₹2.11 Cr |
| Net Issue Size | ₹42.03 Cr |
| Fresh Issue | ₹32.53 Cr |
| Offer for Sale | ₹7.39 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹98.00-102.00 per share |
| BSE Code | 544483 |
| Registrar | Cameo Corporate Services Ltd. |
| Lead Managers | Indcap Advisors Pvt.Ltd. |
| Allotment Status |
| DRHP |
| RHP |
| Final Prospectus |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 2,400 shares · Multiples of 1,200 shares
Incorporated in 2018, Icodex Publishing Solutions Limited is engaged in the business of Software Product Development for Scholarly Publishing.
The company develops software products that assist in publishing research papers and academic articles, supporting the entire process from manuscript preparation to print and digital content distribution.
The company offers Business Process Management services, including quality assurance, editorial services, and back-end support, to assist global publishing clients throughout the publishing process.
The company offers Business Process Management services, including quality checks, editorial support, and IT services like hardware installation and back-end support, assisting global publishing clients throughout the process.
Business Segment:
As of January 31, 2025, The company had 116 employees.
Competitive Strengths:
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of new office premises | 16.70 |
| 2 | Purchase of hardware for new office | 1.12 |
| 3 | Working Capital Requirement | 5.20 |
| 4 | General Corporate Purposes | 6.40 |
| 5 | Issue Expenses | 5.23 |
| Total | 34.64 |
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 24.75 | 10.67 | 5.85 |
| Total Income | 22.08 | 10.99 | 9.72 |
| Profit After Tax | 8.96 | 4.40 | 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 ₹ Crore | |||
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.32 | 5.73 |
| P/E (x) | 13.94 | 17.81 |
| Promoter Holding | 88.24% | 64.46% |
| Market Cap | ₹159.50 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including Underwriting Commission | 4.85 |
| 2 | Commission / processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs. | 0.01 |
| 3 | Fees Payable to Registrar to the Issue | 0.04 |
| 4 | Fees Payable Advertising, Marketing Expenses, Publishing and Printing Expenses | 0.09 |
| 5 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.09 |
| 6 | Fees payable to Peer Review Auditor | 0.01 |
| 7 | Fees Payable to Market Maker (for Three Years) | 0.04 |
| 8 | Others/Miscellaneous | 0.11 |
Last Updated on 22-Jul-2026 07:11:31