The initial public offer (IPO) of Icodex Publishing Solutions received bids for 1,56,76,800 shares as against 41,20,800 shares on offer. The issue was subscribed 3.80%.
Qualified Institutional Buyers (QIBs) bid for 35,72,400 shares, Non-Institutional Investors (NIIs) for 32,19,600 shares, while individual investors (IND category bidding for 2 lots) placed bids for 88,84,800 shares.
The issue opened for bidding on 11 August 2025 and it closed on 13 August 2025. The price band of the IPO was set at Rs 98 to 102 per share. The equity shares will list on BSE's SME platform.
The IPO comprised 41,20,800 equity shares, including a fresh issue of 33,96,000 equity shares and offer for sale (OFS) of 7,24,800 equity shares.
The company intends to utilize the net proceeds for purchase of new office space, purchase of hardware for new office, working capital purposes and general corporate purposes.
Icodex Publishing Solutions was incorporated in 2018 with a focus on providing software products to the scholarly and academic publishing industry. Since its inception, the company has been engaged in software product development for scholarly publishing. Its software products assist in the publication of research papers, studies, and academic articles, helping researchers, academicians, and scholars in their respective fields. The company specializes in developing and providing publishing products and software that support the entire publishing process, from manuscript preparation to print and digital content distribution. As of 31 January 2025, the company had total 116 permanent employees.
The company recorded revenue from operations of Rs 21.88 crore and net profit of Rs 8.96 crore for the period ended 31 March 2025.