Identixweb IPO, a book-built issue worth ₹16.63 crore, is set to open for public subscription from March 26, 2025, to March 28, 2025. The issue comprises entirely fresh equity of 30.80 lakh shares and has generated interest among retail and HNI investors due to the company’s niche in Shopify application development. The price band is set at ₹51 to ₹54 per share, and the minimum lot size is 2,000 shares, requiring a minimum investment of ₹1,02,000 for retail investors. However, to avoid missing out due to oversubscription, investors are advised to bid at the cutoff price, translating to ₹1,08,000.

The allotment date is expected to be finalized on April 1, 2025, with a tentative listing on BSE SME scheduled for April 3, 2025. The book-running lead manager for the IPO is Beeline Capital Advisors Pvt Ltd, while Skyline Financial Services Private Ltd acts as the registrar. The market maker for this IPO is Spread X Securities Private Limited.

Company Overview:

Incorporated in 2017, Identixweb Pvt Ltd operates as an IT firm specializing in Software as a Service (SAAS) based digital product solutions. The company’s portfolio includes E-Commerce Store Development, Web App Development, UI/UX Design, Customized Software Development, along with support and maintenance services. A primary focus of the company is Shopify application development, enabling merchants to enhance functionality and sales through customized applications.

With a suite of more than 10 conversion-optimized Shopify apps, Identixweb caters to a global client base across varied sectors. The company’s SAAS model allows for online application delivery, eliminating installation hassles and simplifying software management. This innovative approach ensures cost-effectiveness and scalability for clients.

Promoters Mr. Priyankkumar Jivarajbhai Savani, Mr. Ankur Jagdishbhai Lakhani, and Mrs. Hiral Ankurbhai Lakhani bring over 13 years of experience in Shopify application development, positioning the company strongly in a growing niche.

Industry Outlook:

India’s IT & BPM sector is a key contributor to GDP, accounting for 7.5% in FY23 and expected to reach 10% by 2025. With 76 crore internet users, India offers fertile ground for digital services. Backed by the Digital India Programme, the sector is witnessing rapid digital adoption. Innovations in SAAS and e-commerce are fueling demand for customized digital solutions like those offered by Identixweb.

India’s improved Global Innovation Index rank (40th in 2022) and cost-effective internet access are making the nation a hub for tech innovation and exports. Identixweb’s Shopify specialization positions it to capitalize on this growth, offering tailored solutions for a global e-commerce client base.

Object of the Issue:

Funds raised from the IPO will be allocated as follows:

• ₹250 lakh for marketing to support growth in India and abroad
• ₹420 lakh for market research and product development via talent acquisition
• ₹415.80 lakh for investment in subsidiary Munim ERP Pvt Ltd for product development
• Remaining funds towards general corporate purposes

The Upcoming IPOs in this week and coming weeks are Arisinfra Solutions Limited, Desco Infratech Limited, ATC Energies System Limited, Shri Ahimsa Naturals Limited,Identixweb Limited.

The Current active IPO are Rapid Fleet Management Services, Active Infrastructures Limited,Grand Continental Hotels.

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