Icodex Publishing Solutions Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹102
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,22,400
Issue Size
₹42.03 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
48.62%
QIB Quota
2.76%
NII Quota
48.62%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Icodex Publishing Solutions Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
88.24%
Promoter Holding (Post-Issue)
64.44%
Issue Type
Book Building - SME
ISIN
INE111601014
About the Company
Our Company was incorporated in 2018 with a focus to provide software products to the scholarly and academic publishing industry. Since inception, our Company is engaged in the business of Software Product Development for Scholarly Publishing. Our Software products help in publication of research papers, studies and academic articles; that help researchers, academicians, and scholars in their field of work. We specialize in a developing and providing publishing products and software, which support the publishing process, i.e., from manuscript preparation till print and digital content distribution.
Industry Overview
The publishing market size is forecast to increase by USD 19.37 billion at a CAGR of 1.2% between 2023 and 2028. The market is experiencing significant shifts, driven by several key trends. The increasing demand for diversity in content reflects a growing recognition of the importance of representation and inclusivity. This trend is further fuelled by the rise in the number of self-published authors, who have greater creative control and faster time-to-market. Conversely, the market share of traditional publishing is decreasing due to the ease of self-publishing and changing consumer preferences. These trends present both opportunities and challenges for market participants, requiring them to adapt and innovate to remain competitive. The market is a dynamic and diverse industry that caters to the insatiable appetite of reading enthusiasts for knowledge and entertainment. From the publication of Charles Darwin's groundbreaking works on evolution to Albert Einstein's scientific theories, the publishing industry has played a pivotal role in shaping our understanding of the world. Today, the market encompasses a wide range of genres, from the mystery genre with its intricate jigsaws and Rubik's cubes-like puzzles, to educational books on subjects as diverse as stock market analysis and housing market trends. The market also caters to various segments, including local bookshops, online portals, and physical stores. The India publishing market is a rapidly growing and lucrative industry. It is estimated to grow at a CAGR of 10.3% during the forecast period 2020-2026. The Indian publishing sector has been in existence for centuries, and continues to be an important part of the cultural landscape today. Traditional publishing houses in India have seen significant growth over recent years due to the increased demand for books in regional languages as well as a rise in digital content consumption across various platforms such as e-books, videos, audio books etc., which are made available online through major Indian publishers like Amazon Kindle, Flipkart Books, among others.
Company History
Our Company was originally incorporated as `Icodex Publishing Solutions Private Limited", as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated May 28, 2018 issued by the Jurisdictional Registrar of Companies, Central Registration Centre. Subsequently, our Company was converted into a public limited company pursuant to a resolution passed by the Board of Directors in the meeting held on June 14, 2024 and by the Shareholders in their EGM held on June 25, 2024. The name of our Company was changed to `Icodex Publishing Solutions Limited" and a fresh certificate of incorporation dated August 20, 2024 was issued by the Assistant Registrar of Companies / Deputy Registrar of Companies / Registrar of Companies, Central Processing Centre.
Products & Services
- The Company is engaged in the business of Software Product Development for Scholarly Publishing.
Growth Strategy
- To Empower India's Research Ecosystem.
- To Revolutionize Research Publishing with Technology.
- Creating a Self-Reliant Research Ecosystem for India.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 41,20,800 equity shares of face value of Rs. 10/- each ("Equity Shares") of Icodex Publishing Solutions Limited (the "Company" or the "Issuer") for cash at a price of Rs.102/- per equity share including a share premium of Rs.92/- per equity share (the "Offer Price") aggregating to Rs. 42.03 crores ("the Issue") comprising of a fresh offer of 33,96,000 equity shares aggregating to Rs. 34.64 crores (the "Fresh Offer") and an offer for sale of 7,24,800 equity shares by the promoter selling shareholders ("Offer for Sale") aggregating to Rs. 7.39 crores of which 2,06,400 equity shares aggregating to Rs. 2.11 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Net Offer of 39,14,400 equity shares aggregating to Rs. 39.93 crores (the "Net Offer"). The offer and the net offer will constitute 26.35 % and 25.03 % respectively of the post issue paid up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Domain Expertise.
- Experienced Management and Leadership Team.
- Strong relationship with existing customers.
- End to end publishing solution provider in the publishing ecosystem.
- Technology Focused Business Model.
- The company is highly dependent on few customers for its business and revenues. Loss of relationship with any of these customers may have a material adverse effect on its profitability and results of operations of the Company.
- Substantial portion of its revenues is dependent on a Global Publishing Company based out of United States of America (USA). Any economic slowdown and/or any other factor affecting the economy of USA may have an adverse impact on its business. Further any change in the Government regulations and policies vis-à-vis supply of services to USA may have a material adverse effect on its profitability and results of operations.
- The company has entered into business agreements / service agreements with its customers which contain Termination clause. In the event of any breach of obligations or covenants in the agreements, it may lead to termination of its service agreements with the company customers which in turn may result in loss of business, profitability and operations of the Company.
- The Company is exposed to foreign currency exchange risks, which its may not be able to manage effectively. Currency exchange rate fluctuations could adversely affect the company financial results.
- The company operates out of a co-working space and the company does not own the business premises where its registered office is situated.