Icodex Publishing Solutions IPO
Icodex Publishing Solutions IPO Details
-
Open Date
11 Aug 2025
-
Close Date
13 Aug 2025
-
Listing Date
19 Aug 2025
- IPO Price Range
₹ 98 to ₹103
- IPO Size
₹ 42.03 Cr
- Listing Exchange
BSE SME
Icodex Publishing Solutions IPO Timeline
Icodex Publishing Solutions IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 11-Aug-25 | 1.00 | 0.45 | 0.33 | 0.41 |
| 12-Aug-25 | 1.00 | 0.64 | 1.13 | 0.89 |
| 13-Aug-25 | 33.08 | 1.58 | 4.67 | 3.95 |
Last Updated: 13 August 2025 6:41 PM by 5paisa
Icodex Publishing Solutions Limited is a technology-driven company that focuses on delivering end-to-end software products and business process services tailored for the global publishing industry. With core expertise in scholarly publishing workflows, Icodex develops specialised tools that simplify and automate processes ranging from manuscript submission to final distribution in both print and digital formats.
The company operates across three main business segments:
Software Product Development – Offering SaaS-based platforms and automation tools, including ERP systems and publishing workflow solutions for publishing and other industries.
Business Process Management (BPM) – Providing editorial support, AI-powered quality checks, invoice processing, and print logistics designed to streamline publishing operations.
Application & IT Support – Delivering infrastructure management, server and system configuration, and hardware support to ensure seamless backend functioning for enterprise clients.
Icodex stands out for its tech-enabled publishing services, strategic focus on efficiency, and ability to integrate editorial expertise with scalable IT solutions—making it a trusted partner for publishing houses worldwide.
Established in: 2018
Managing Director: Mr. Kamalakkannan Govindaraj
Icodex Publishing Solutions Objectives
1. ₹16.70 crore will be allocated for the purchase of new office premises.
2. ₹1.12 crore is planned for the procurement of hardware for the new office setup.
3. ₹5.20 crore will be utilised to meet the company’s working capital requirements.
4. The remaining amount will be used for general corporate purposes.
Icodex Publishing Solutions IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹42.03 Cr. |
| Offer For Sale | ₹7.39 Cr. |
| Fresh Issue | ₹34.64 Cr. |
Icodex Publishing Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 235,200 |
| Retail (Max) | 2 | 2,400 | 235,200 |
| S-HNI (Min) | 3 | 3,600 | 352,800 |
| S-HNI (Max) | 8 | 9,600 | 940,800 |
| B-HNI (Min) | 9 | 10,800 | 10,58,400 |
Icodex Publishing Solutions IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 33.08 | 1,08,000 | 35,72,400 | 36.438 |
| NII (HNI) | 1.58 | 19,03,200 | 30,13,200 | 30.735 |
| Retail | 4.67 | 19,03,200 | 88,84,800 | 90.625 |
| Total** | 3.95 | 39,14,400 | 1,54,70,400 | 157.798 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 9.72 | 10.99 | 22.08 |
| EBITDA | 1.97 | 4.26 | 6.19 |
| PAT | 1.81 | 4.39 | 8.96 |
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 5.85 | 10.67 | 24.75 |
| Share Capital | 0.01 | 0.01 | 0.01 |
| Total Borrowings | 0.2 | 8.7 | 19.2 |
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 1.27 | 3.81 | 6.83 |
| Net Cash Generated From / (used in) investing activities | -1.09 | -3.26 | -0.92 |
| Net Cash Generated From / (used in) financing activities | 0.1 | 8.1 | 24.6 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 1.68 | 3.05 | 4.66 |
Strengths
1. Offers full publishing workflow services
2. Develops in-house platforms like iCAPP
3. Provides BPM, IT, and SaaS solutions
4. Strong leadership with domain expertise
Weaknesses
1. Revenue depends on few key clients
2. Foreign market reliance increases risk
3. Sensitive to currency rate swings
4. Needs regular working capital support
Opportunities
1. Rising demand for automation tools
2. Expanding ties with global publishers
3. Skilled team enables product innovation
4. Growth in digital publishing services
Threats
1. Intense competition in tech services
2. Legal or regulatory delays may hurt
3. Risk of leased premises disruption
4. Fast-changing tech may impact offerings
End-to-end publishing services: Offers integrated solutions—from content submission to both print and digital distribution—enabling efficiency and control across the publishing lifecycle.
Proprietary SaaS platforms: Develops and maintains its own tools (iCAPP, PaperPerfect), reducing third-party reliance and supporting continuous innovation.
Consistent financial performance: Demonstrates stable revenue and profitability growth, reinforcing execution capabilities.
Experienced leadership and technical team: Guided by seasoned professionals with expertise in publishing and technology, driving strategic execution and product development.
Icodex operates in the scholarly publishing technology sector, offering a comprehensive suite of services including manuscript-to-distribution software platforms (like iCAPP and PaperPerfect), editorial and BPM support, and IT infrastructure management. As publishers increasingly embrace digital transformation, demand for automated workflows, quality control, and full-stack publishing solutions is rising. With its established operations and growing revenue streams, Icodex is well-positioned to leverage these trends within the global publishing ecosystem.
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FAQs
Icodex Publishing Solutions Ltd. IPO opens from August 11, 2025 to August 13, 2025.
The size of Icodex Publishing Solutions Ltd. IPO is ₹43.02 Cr.
The price band of Icodex Publishing Solutions Ltd. IPO is ₹98 to ₹103 per share.
To apply for Icodex Publishing Solutions Ltd. IPO, follow the steps given below:
- Login to your 5paisa account and select the issue in the current IPO section.
- Enter the number of lots and the price at which you wish to apply for the Icodex Publishing Solutions Ltd. IPO.
- Enter your UPI ID and click on submit. You will receive a mandate notification to block funds in your UPI app.
- On approving the mandate, your bid will be placed with the exchange.
The minimum lot size of Icodex Publishing Solutions Ltd. IPO is 2 lots of 2,400 shares and the investment required is ₹235,200.
The share allotment date of Icodex Publishing Solutions Ltd. IPO is August 14, 2025
The Icodex Publishing Solutions Ltd. IPO will likely be listed on August 19, 2025.
Indcap Advisors Pvt. Ltd is the book running lead manager for Icodex Publishing Solutions Ltd. IPO.
- The company intends to utilise the proceeds to fund capital expenditure for the proposed expansion of its existing manufacturing facilities, which includes constructing an additional floor and installing new plant and machinery.
- A portion of the funds will be used to meet the company’s long-term working capital requirements.
- The remaining proceeds will be allocated towards general corporate purposes.
Icodex Publishing Solutions Contact Details
102, First Floor, Suman Business Park,
Kalyani Nagar,
Viman Nagar,
Pune, Maharashtra, 411014
Phone: +91 8856907928
Email: cs@icodexsolutions.com
Website: https://icodexsolutions.com/
Icodex Publishing Solutions IPO Register
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
Icodex Publishing Solutions IPO Lead Manager
Indcap Advisors Pvt. Ltd.