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Industrials
The initial public offering (IPO) of Identixweb, a prominent Shopify app developer, opened for public subscription on March 26, 2025. This Gujarat-based IT company specializes in providing Software as a Service (SaaS) digital solutions, focusing on e-commerce store development, web and mobile app development, and UI/UX design. Identixweb aims to raise ₹16.63 crore through its book-built issue, which comprises a fresh issue of 30.8 lakh equity shares without an offer-for-sale (OFS) component. Here's a comprehensive overview of the key details related to the IPO.
Identixweb has set the IPO price band between ₹51 and ₹54 per share. A retail investor must bid for a minimum of one lot of 2,000 equity shares, investing at least ₹108,000 (at the upper end of the price band). For high-net-worth individuals (HNIs), the minimum investment is ₹216,000 for two lots[1][3][5].
The total issue size is ₹16.63 crore, reserved as follows:
The IPO is open for subscription from March 26 to March 28, 2025. The allotment basis is expected to be finalized by April 1, 2025, with refunds initiated and shares credited to Demat accounts by April 2, 2025. The shares are slated to list on April 3, 2025, on the BSE SME platform[1][2][5].
As of the opening, the grey market premium (GMP) for Identixweb shares was reported as flat, with prices reflecting the upper end of the IPO price band at ₹54[1]. However, many SME IPOs have seen minimal GMPs prior to listing[4].
Identixweb plans to utilize its IPO proceeds for:
Incorporated in 2017, Identixweb specializes in Shopify application development and offers a range of services including e-commerce store development, web and mobile app development, UI/UX design, custom software solutions, and ongoing support. The company has built over 35 Shopify apps and completed more than 100 projects across various industries[1][4].
In the six months ending September 2024, Identixweb reported a revenue of ₹4.78 crore and a profit after tax (PAT) of ₹2 crore. For FY2024, the company's revenue was ₹6.66 crore, with a PAT of ₹2.76 crore, marking a 105% increase from the previous fiscal[1].
The subscription status of Identixweb IPO showed strong demand, with the total issue being subscribed 24.4 times as of the closing date[2].
Identixweb's IPO presents an opportunity for investors to align with a company poised for growth in the e-commerce and digital solutions space. While there are risks associated with the company's reliance on Shopify and legal proceedings, Identixweb's focus on innovation and customized solutions positions it well for future expansion.
