Icodex Publishing Solutions’ Rs 42 crore IPO opens today. GMP at 2%

Icodex Publishing Solutions will open its IPO for subscription on Monday aiming to raise Rs 42.03 crore through a combination of fresh equity and an offer for sale. The three-day bookbuilding issue will close on August 13 with shares expected to list on the BSE SME platform on August 19. The grey market premium (GMP) for the IPO is currently around 2%.

The IPO comprises a fresh issue of 33.96 lakh shares aggregating to Rs 34.64 crore and an offer for sale of 7.25 lakh shares worth Rs 7.39 crore by existing shareholders.

The price band has been fixed at Rs 98–Rs 102 per share. Investors can bid for a minimum of 2,400 shares.

Icodex Publishing is engaged in software product development and business process management for the publishing industry.

Its offerings include SaaS-based publishing automation tools, AI-driven quality checks, editorial services, backend support for print and digital content distribution, and IT infrastructure management. As of January 31, 2025, the company employed 116 people.

Proceeds from the fresh issue will be used for purchasing new office premises (Rs 16.70 crore), buying hardware for the new office (Rs 1.12 crore), meeting working capital needs (Rs 5.20 crore), and for general corporate purposes.

Indcap Advisors is the book-running lead manager, Cameo Corporate Services is the registrar for the issue.