Icodex Publishing Solutions IPO
GMP, Subscription, Price, Dates & Financial Details
It - Software
Icodex Publishing Solutions Limited (established in 2018) is a software product and service company focused on the scholarly and academic publishing industry. It provides end-to-end digital solutions and services that support the entire publishing lifecycle—from manuscript submission to print and…
Open Date
Mon, 11 Aug 2025
Close Date
Wed, 13 Aug 2025
Price Band
₹ 98 – 102
Lot Size
1200
Issue Size
₹ 42.03 Cr
Minimum Investment
₹ 244,800 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Icodex Publishing Solutions IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹42.03 Crore, comprising a fresh issue of 31.90 Lakh equity shares aggregating to ₹32.53 Crore and an offer for sale (OFS) of 7.25 Lakh equity shares aggregating to ₹7.39 Crore by the existing shareholders.
The Icodex Publishing Solutions IPO remained open for subscription from August 11, 2025, to August 13, 2025. The basis of allotment was finalized on August 14, 2025, and the company's shares were listed on BSE SME Platform on August 19, 2025.
The company had fixed the price band at ₹98 to ₹102 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹244,800 (based on the upper price band) to apply for one lot.
Cameo Corporate Services Limited served as the registrar to the issue. Indcap Advisors Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Icodex Publishing Solutions Ltd is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Icodex Publishing Solutions IPO Timeline (Tentative)
- IPO Open Date
- Mon, 11 Aug 25
- IPO Close Date
- Wed, 13 Aug 25
- Basis of Allotment
- Thu, 14 Aug 25
- Initiation of Refunds
- Mon, 18 Aug 25
- Credit of Shares to Demat
- Mon, 18 Aug 25
- Listing Date
- Tue, 19 Aug 25 — NSE & BSE
Open Date
11 August 2025
Close Date
13 August 2025
Basis Of Allotment
14 August 2025
Listing Date
19 August 2025
IPO Subscription
Check Live Subscription →The Icodex Publishing Solutions IPO has received bids for 1,56,76,800 shares against 39,14,400 shares offered, resulting in an overall subscription of 4x. the NII category is subscribed 1.69x, Retail Investors 4.67x, and QIBs 33.08x.
QIB
33.08x
NII
1.69x
RII
4.67x
Total
4x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 19,03,200 shares, representing 48.62% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 1,08,000 shares (2.76%), while Non-Institutional Investors (NIIs) receive 19,03,200 shares (48.62%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 108,000 | 2.76% |
| Non-Institutional | 1,903,200 | 48.62% |
| BNII | 1,062,400 | 27.14% |
| SNII | 634,400 | 16.21% |
| Retail Investors | 1,903,200 | 48.62% |
| Total | 3,914,400 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 24.75 | 10.67 | 5.85 |
| Revenue | 22.08 | 10.99 | 9.72 |
| Profit After Tax | 8.96 | 4.4 | 1.81 |
| Net Worth | 19.05 | 8.59 | 4.19 |
| Reserve & Surplus | 6.81 | 8.59 | 4.19 |
| Total Borrowings | 2.99 | 0.88 | 0.02 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Icodex Publishing Solutions Ltd KPI Information
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 47.51 | 51.19 | 43.21 |
| ROCE % | 110.07 | 74.17 | 51.62 |
| Debt / Equity | 0.16 | 0.1 | 0 |
| RoNW % | 47.02 | 51.19 | 43.21 |
| Pat Margin % | 41.75 | 42.28 | 19 |
Peers Comparison
No Peer Comparision Available
About Icodex Publishing Solutions Ltd
Icodex Publishing Solutions Limited (established in 2018) is a software product and service company focused on the scholarly and academic publishing industry. It provides end-to-end digital solutions and services that support the entire publishing lifecycle—from manuscript submission to print and digital distribution.
Core Business Verticals:
- Software Product Development
- For Publishing Industry: Offers cloud-based and AI-driven software (e.g., iCAPP, PaperPerfect, iProof) that streamline publication workflows for authors, publishers, and peer reviewers.
- For Other Industries: Develops ERP systems and custom software solutions tailored to client needs.
- Business Process Management
- Provides services like quality assurance, editorial support, print & distribution, and invoice processing for a major US-based publishing client.
- Uses AI tools for content proofing, language enhancement, and layout checks.
- Application Support & IT Services
- Offers IT infrastructure management, server management, and system configuration for clients.
Key Software Products:
- iCAPP: All-in-one publishing workflow platform.
- PaperPerfect: Manuscript writing tool for researchers.
- iProof: Online article review and editing platform.
- FlexyPage: HTML-based layout engine for PDF generation.
- iLang, iRef, iCE: AI-powered tools for language editing, reference management, and XML conversion.
- iPublish & ieBooks: Platforms for digital content hosting and book digitization.
Icodex Publishing Solutions IPO Promoters
- Kamalakkannan Govindaraj
- Chetan Shankaralal Soni
Promoters Holding
Holding Pre Issue
88.24%
Holding Post Issue
0.00%
Icodex Publishing Solutions IPO Objective
The Company Icodex Publishing Solutions IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Purchase of new office premises
- Purchase of hardware for new office
- Working capital requirement
- General Corporate Purpose
Icodex Publishing Solutions Ltd Address / Contact Details
Icodex Publishing Solutions Limited
102, First Floor, Suman Business Park,
Kalyani Nagar,Viman Nagar,
Pune, Maharashtra, 411014
Phone: +91 8856907928
Email: cs@icodexsolutions.com
Website: https://icodexsolutions.com/
IPO Snapshot
Icodex Publishing Solutions IPO Lot Size
The Icodex Publishing Solutions IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,44,800 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,44,800.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 244,800.00 |
| Retail (Max) | 2 | 2,400 | 244,800.00 |
| S-HNI (Min) | 3 | 3,600 | 367,200.00 |
| S-HNI (Max) | 8 | 9,600 | 979,200.00 |
| B-HNI (Min) | 9 | 10,800 | 1,101,600.00 |
Issue Reservation
- QIB — 2.76%
- NII — 48.62%
- RII — 48.62%
Book Running Lead Managers
- Indcap Advisors Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Icodex Publishing Solutions IPO?
Icodex Publishing Solutions IPO is a Book-building IPO with a total issue size of ₹42.03 crore. The Icodex Publishing Solutions IPO price band is ₹98 to 102 per share. The Icodex Publishing Solutions IPO subscription opens on Mon, Aug 11, 2025, and closes on Wed, Aug 13, 2025. The Icodex Publishing Solutions IPO will be listed on the BSE. Cameo Corporate Services Limited is the registrar for the Icodex Publishing Solutions IPO.
When will the Icodex Publishing Solutions IPO open for subscription?
The Icodex Publishing Solutions IPO opens on Mon, Aug 11, 2025 and closes on Wed, Aug 13, 2025
What is Icodex Publishing Solutions IPO Price Band?
Icodex Publishing Solutions IPO Price Band is ₹98 to 102 per share.
What is Icodex Publishing Solutions IPO Lot Size?
Icodex Publishing Solutions IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹244800 based on the upper price band
What is the minimum investment for Icodex Publishing Solutions IPO?
The minimum investment for Icodex Publishing Solutions IPO is ₹244800, based on one lot of 1200 shares at the upper price band of ₹102 per share.
How to apply for Icodex Publishing Solutions IPO?
Investors can apply for the Icodex Publishing Solutions IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Aug 13, 2025. The application amount remains blocked until the Icodex Publishing Solutions IPO allotment is finalized.
What is Icodex Publishing Solutions IPO Issue Size?
Icodex Publishing Solutions IPO issue size is ₹42.03 crores.
What is the Icodex Publishing Solutions IPO Allotment Date?
Icodex Publishing Solutions IPO allotment date is Thu, Aug 14, 2025.
Who is the Icodex Publishing Solutions IPO Registrar?
The registrar for Icodex Publishing Solutions IPO is Cameo Corporate Services Limited. Investors can go to Cameo Corporate Services Limited website to check Icodex Publishing Solutions IPO allotment status, refund processing, and other IPO-related information.
Who is the Icodex Publishing Solutions IPO Lead Manager?
The book-running lead managers (BRLMs) for the Icodex Publishing Solutions IPO are Indcap Advisors Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Icodex Publishing Solutions IPO Red Herring Prospectus (RHP).