Identixweb Limited, an IT firm specializing in Software as a Service (SAAS)-based digital product solutions, is launching its IPO with an issue size of ₹ 16.63 Crores. The company offers a range of services, including e-commerce store development, web app development, UI/UX design, and customized software solutions, with a primary focus on Shopify application development. The IPO opens on March 26, 2025, and closes on March 28, 2025. The shares are expected to be listed on the BSE SME on or about April 3, 2025.

IPO Details

The Identixweb IPO is a book-built issue consisting entirely of a fresh issue of 30.80 lakh shares, with a price band set between ₹ 51 and ₹ 54 per equity share. At the upper price band of ₹ 54, the market capitalization of the company will be ₹ 56.38 Crores. Retail investors need to invest a minimum of ₹ 1,08,000, while High-Net-Worth Individuals (HNIs) must invest ₹ 2,16,000 for 2 lots (4,000 shares).

The IPO will be managed by Beeline Capital Advisors Private Limited, with Skyline Financial Services Private Limited serving as the registrar. Spread X Securities Private Limited is the market maker for the issue.

Identixweb IPO Grey Market Premium (GMP)

As of the latest updates, the Grey Market Premium (GMP) for Identixweb Limited’s IPO stands at ₹ 0, indicating no premium for the listing. This suggests that no significant pre-listing trading activity has been observed, which is a critical factor to consider when making investment decisions in IPOs.

Live Subscription Status

As of 11:00 AM on March 27, 2025, the IPO has been subscribed 0.19 times on its second day of the subscription period. The subscription status is available live on the BSE website, giving investors real-time updates.

Identixweb IPO Allotment Date and Process

The IPO allotment date is expected to be April 1, 2025. The allotment will be finalized by the registrar, and investors can check their allotment status online by following these steps:

• Visit the registrar's website.

• Select Identixweb Limited IPO from the list.

• Enter the required details (application number, PAN, or DP Client ID).

• Submit the details to check the allotment status.

Financial Performance and Key Metrics

Identixweb has shown steady growth in its financials. The revenue from operations for FY2024 was ₹ 626.57 Lakh, with an EBITDA of ₹ 219.55 Lakh. The profit after tax (PAT) for FY2024 was ₹ 134.67 Lakh, signaling a steady improvement compared to the previous fiscal years. The company has a pre-issue EPS of ₹ 3.76 and a post-issue EPS of ₹ 2.65. With a pre-issue P/E ratio of 14.36x and a post-issue P/E ratio of 20.37x, the IPO appears to be fairly priced.

Objectives of the IPO

Identixweb aims to use the net proceeds from the IPO for the following purposes:

1. ₹ 250.00 Lakhs for marketing investments to support the company’s growth in India and abroad.

2. ₹ 420.00 Lakhs for market research and product development via talent hiring.

3. ₹ 415.80 Lakhs for investing in its subsidiary, Munim ERP Private Limited, for product development and talent hiring.

4. General corporate purposes.

IPO Review

Given the steady financial performance, strong industry expertise of the promoters, and an experienced management team, Identixweb has positioned itself well in the SAAS and e-commerce development market. However, the lack of Grey Market Premium (GMP) and moderate subscription numbers raise concerns for short-term listing gains.

Investors should approach this IPO with caution, considering it is fully priced with a moderate P/E ratio. Based on the current financial metrics and the market conditions, we recommend avoiding the Identixweb IPO for listing gains or long-term investments, especially given the lack of strong pre-listing interest.

The Upcoming IPOs in this week and coming weeks are Arisinfra Solutions Limited, Infonative Solutions Limited,Spinaroo Commercial Limited,Aten Papers & Foam Limited.

The Current active IPO are Retaggio Industries Limited,Identixweb Limited, ATC Energies System Limited, Shri Ahimsa Naturals Limited.

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