New Delhi, 19 August (Kiran News). Icodex Publishing Solutions, a company providing software services for academic content and research papers, disappointed its IPO investors today by entering the stock market with a significant loss. Under the IPO, the company’s shares were issued at a price of ₹102. Today, on the BSE SME platform, the shares were listed at ₹81.60, a 20 percent discount. Following the weak listing, selling pressure increased, causing the shares to slip further to the lower circuit level of ₹77.55. As a result, IPO investors suffered a loss of 23.97 percent on the very first day of trading.
The ₹42.03 crore IPO of Icodex Publishing Solutions was open for subscription from 11 to 13 August. The IPO received an average response from investors and was subscribed overall 3.95 times. The reserved portion for Qualified Institutional Buyers (QIBs) was subscribed 33.08 times. The reserved portion for Non-Institutional Investors (NIIs) saw a subscription of 1.58 times, while the retail investors’ portion was subscribed 4.67 times. Through this IPO, new shares worth ₹34.64 crore were issued. In addition, 7,24,800 shares with a face value of ₹10 were sold through the Offer for Sale window. The funds raised through the IPO will be used by the company to purchase new office space, meet working capital requirements, and for general corporate purposes.
Talking about the company’s financial situation, as per the prospectus, its financial health has been consistently improving. In the financial year 2022-23, the company earned a net profit of ₹1.81 crore, which increased to ₹4.40 crore in the next financial year 2023-24, and jumped to ₹8.96 crore in 2024-25. During this period, the company’s revenue grew at a compound annual growth rate (CAGR) of more than 50 percent, reaching ₹22.08 crore. However, the company’s debt has also been rising continuously. At the end of FY 2022-23, the company’s debt stood at ₹2 lakh, which increased to ₹88 lakh by the end of FY 2023-24, and further rose to ₹2.99 crore by the end of FY 2024-25.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment