Icodex Publishing Solutions IPO 2025: Date, Price Band, Review, GMP & Allotment Status in India

Icodex Publishing Solutions Ltd. is launching its IPO to raise capital for purchasing office premises, hardware, working capital, and general corporate purposes. The IPO will open on August 11, 2025 and close on August 13, 2025. Shares are proposed to be listed on the BSE SME platform.

Key IPO Details

Particulars	Details
IPO Open Date	August 11, 2025
IPO Close Date	August 13, 2025
Listing Date	August 19, 2025
Face Value	₹10 per equity share
Price Band	₹98 to ₹102 per share
Issue Size	Approx. ₹42.03 Crores
Fresh Issue	Approx. ₹34.64 Crores
Offer for Sale	Approx. 7,24,800 Equity Shares
Lot Size	1,200 shares
Issue Type	Book Build Issue
IPO Listing	BSE SME
Retail Quota	Up to 35%
QIB Quota	Up to 50%
NII (HNI) Quota	Up to 15%

Market Lot Information

Category	Lot Size	Shares	Amount (₹)
Retail Minimum	2	2,400	2,44,800
Retail Maximum	2	2,400	2,44,800
S-HNI Minimum	3	3,600	3,67,200
S-HNI Maximum	8	9,600	9,79,200
B-HNI Minimum	9	10,800	11,01,600

Important IPO Dates

Event	Date
IPO Opening	August 11, 2025
IPO Closing	August 13, 2025
Basis of Allotment	August 14, 2025
Refund Initiation	August 18, 2025
Demat Credit	August 18, 2025
Listing Date	August 19, 2025

Promoters

• Kamalakkannan Govindaraj
• Chetan Shankaralal Soni

About the Company

Icodex Publishing Solutions Ltd. is involved in publishing and content solutions, catering to a wide range of clients through its innovative products and services. The company is focused on expanding its operational capacity and infrastructure to serve a growing client base.

Financial Performance

Period Ended	Revenue (₹ Cr)	Expense (₹ Cr)	Profit After Tax (₹ Cr)	Assets (₹ Cr)
2023	9.72	7.88	1.81	5.85
2024	10.99	6.54	4.40	10.67
2025	22.08	9.26	8.96	24.75

Key Financial Ratios (FY2025)

KPI	Value
ROE	47.51%
ROCE	110.07%
EBITDA Margin	61.39%
PAT Margin	41.75%
Debt to Equity Ratio	0.16
EPS (Basic)	₹7.32
Price/Earning Ratio	N/A
RoNW	47.02%
Net Asset Value (NAV)	₹15.56

Peer Comparison

Company	EPS	PE Ratio	RoNW (%)	NAV	Income
MPS Limited	–	–	–	–	– Cr.

Purpose of the IPO

• Purchase of new office premises
• Purchase of hardware for new office
• Working capital requirement
• General corporate purposes

Registrar & Contact Details

Registrar:
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/

Lead Manager:
Indcap Advisors Pvt. Ltd.

Company Address:
Icodex Publishing Solutions Ltd.
102, First Floor, Suman Business Park,
Kalyani Nagar, Viman Nagar,
Pune, Maharashtra, 411014
Phone: +91 8856907928
Email: cs@icodexsolutions.com
Website: https://icodexsolutions.com/

Reviews

Reviews and recommendations from brokerage and research houses for Icodex Publishing Solutions IPO are awaited.