Identixweb Limited IPO Overview

Identixweb Limited, a SaaS-based IT firm specializing in Shopify application development, is launching its IPO on the BSE SME platform. The IPO consists of a Fresh Issue of 30.80 lakh shares amounting to ₹16.63 crores.

• IPO Subscription Period: March 26, 2025 – March 28, 2025

• Allotment Date: April 01, 2025

• Listing Date (Tentative): April 03, 2025

• Issue Price Band: ₹51 – ₹54 per share

• Lot Size: 2,000 shares

• Minimum Investment for Retail Investors: ₹1,08,000

• Minimum Investment for HNIs: ₹2,16,000 (2 lots)

IPO Lead Managers & Market Makers

• Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd

• Registrar: Skyline Financial Services Pvt Ltd

• Market Maker: Spread X Securities Pvt Ltd

Identixweb IPO Grey Market Premium (GMP)

As of March 21, 2025, the Identixweb IPO GMP is ₹0, indicating no active trading in the unregulated grey market. Investors should focus on fundamental analysis rather than relying on GMP.

Identixweb IPO Subscription Status & Anchor Investors

Identixweb has raised ₹4.73 crores from Anchor Investors at ₹54 per share, allocating 8,76,000 equity shares. The IPO subscription opens on March 26, 2025, with real-time updates available on the stock exchange and registrar’s website.

How to Check Identixweb IPO Allotment Status?

The IPO allotment is expected to be finalized on April 1, 2025. Investors can check their allotment status through the registrar’s website:

1. Visit the IPO allotment status page.

2. Select Identixweb Limited IPO from the dropdown menu.

3. Enter your application number, PAN, or DP Client ID.

4. Click Submit to view your allotment status.

Utilization of IPO Proceeds

Identixweb Limited plans to use the net proceeds from the IPO for:

1. Marketing Expansion – ₹250.00 lakh

2. Market Research & Talent Hiring – ₹420.00 lakh

3. Investment in Subsidiary (Munim ERP Pvt Ltd) for Product Development – ₹415.80 lakh

4. General Corporate Purposes

Business Overview

Incorporated in 2017, Identixweb Limited specializes in SaaS-based solutions for Shopify application development, E-commerce store development, custom software development, and web app development. The company operates worldwide and has two subsidiaries:

• Munim ERP Pvt Ltd (India) – Focuses on ERP solutions for accounting and GST compliance.

• Identixweb LLC (USA) – Specializes in Shopify solutions for global merchants.

As of September 30, 2024, the company had 57 employees, with banking services managed by RBL Bank Limited.

Industry Analysis: IT & SaaS Market Trends

• India’s IT & BPM sector contributed 7.5% to GDP in FY23, projected to reach 10% by 2025.

• IT sector revenue stood at $227 billion in FY22 with a 15.5% YoY growth.

• IT exports reached $194 billion in FY23, driven by digital transformation and AI adoption.

• Cloud computing & SaaS adoption is growing, with public cloud services expected to hit $17.8 billion by 2027.

Key Business Strengths

1. Strong Leadership & Skilled Team – Experienced developers, designers, and marketers.

2. Shopify App Expertise – Custom Shopify solutions enhancing store performance.

3. Diverse Tech Stack – Expertise in Node.js, PHP, and React.js.

4. Customer-Centric Approach – Solutions tailored to business needs.

5. Innovation & Quality Focus – Continuous research and strong quality assurance.

6. Global Expansion Strategy – Strengthening presence in new and existing markets.

Business Risks & Concerns

• Revenue Dependence on Shopify: 85.41% of Identixweb’s revenue in FY24 came from Shopify Inc.

• Regulatory Challenges: Data privacy laws and compliance changes may impact operations.

• Market Competition: SaaS and IT services are highly competitive, requiring continuous innovation.

Final Thoughts

Identixweb Limited's IPO presents an opportunity for investors seeking exposure to the growing SaaS and e-commerce technology sector. With a strong presence in Shopify app development and a focus on innovation, Identixweb has positioned itself for future growth. However, investors should consider risks such as revenue dependency and competition before making investment decisions.

For more details, check the official IPO prospectus or visit the BSE SME listing page for updates.

Related Reads:

• Upcoming IPOs in 2025

• How to Apply for an IPO?

• IPO Grey Market Premium (GMP) Explained