Icodex Publishing IPO description – Incorporated in 2018, Icodex Publishing Solutions is a specialized software product development company serving the global scholarly publishing industry. With a workforce of 116 employees as of 30 June 2025, the company has built a robust portfolio of software products and services that streamline the publishing lifecycle—from manuscript preparation to digital content distribution. Icodex delivers Software-as-a-Service (SaaS) to a major U.S.-based publishing client, supporting key stakeholders in publishing—authors, publishers, and peer reviewers—through AI-driven automation tools.
Core solutions include flagship products, like iCAPP, a cloud-based end-to-end publishing workflow platform, and PaperPerfect, designed for manuscript creation. Other innovations such as iProof, iLang, iCE, and iRef enhance editorial, linguistic, and technical accuracy. The company also offers ERP systems and tailored software for broader industry applications. Beyond software, Icodex provides Business Process Management (BPM) services, covering quality checks, editorial assistance, and backend publishing support. Additionally, it manages IT infrastructure, server support, and hardware deployment.
With over a dozen proprietary tools, Icodex exemplifies digital transformation in scholarly publishing, combining AI, machine learning, and cloud infrastructure to reduce turnaround times and elevate content quality across global academic platforms.
Promoters of Icodex Publishing Solutions – Kamalakkannan Govindaraj & Chetan Shankarlal Soni
Table of Contents
Icodex Publishing Solutions IPO Details
| Icodex Publishing IPO Dates | 11 – 13 August 2025 |
| Icodex Publishing Issue Price | INR 98 – 102 per share |
| Fresh Issue | 33,96,000 shares (INR 33.28 – 34.64 crore) |
| Offer For Sale | 7,24,800 shares (INR 7.10 – 7.39 crore) |
| Total IPO Size | 41,20,800 shares (INR 40.38 – 42.03 crore) |
| Minimum Bid | 2,400 shares (INR 2,44,800) |
| Lot Size | 1,200 shares (INR 1,22,400) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | BSE SME |
Icodex Publishing Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 9.54 | 10.40 | 21.88 |
| Expenses | 7.88 | 6.54 | 9.26 |
| Net income | 1.81 | 4.40 | 8.96 |
Icodex Publishing Offer News
- Icodex Publishing RHP
- Icodex Publishing Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
Icodex Publishing Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 1.51 | 3.66 | 7.32 |
| PE ratio | – | – | 13.39 – 13.93 |
| RONW (%) | 43.21 | 51.19 | 47.02 |
| NAV | 3.49 | 7.16 | 15.56 |
| ROCE (%) | 43.95 | 47.37 | 59.17 |
| EBITDA (%) | 20.43 | 40.97 | 61.39 |
| Debt/Equity | 0.00 | 0.10 | 0.16 |
Icodex Publishing IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 15 August 2025 | 11 | – | 9,500 |
| 14 August 2025 | 13 | – | 11,500 |
| 13 August 2025 | 13 | – | 11,500 |
| 12 August 2025 | 12 | – | 10,700 |
| 11 August 2025 | 3 | – | 1,700 |
Icodex Publishing IPO Subscription – Live Updates
| Category | QIB | NII | Individual | Total |
|---|---|---|---|---|
| Shares Offered | 1,08,000 | 19,03,200 | 19,03,200 | 39,14,400 |
| 13 Aug 2025 | 33.08 | 1.69 | 4.67 | 4.00 |
| 12 Aug 2025 | 1.00 | 0.75 | 1.13 | 0.94 |
| 11 Aug 2025 | 1.00 | 0.45 | 0.33 | 0.41 |
The market maker reservation portion of 2,06,400 shares is not included in the above calculations.
Icodex Publishing IPO Allotment Status
Icodex Publishing IPO allotment status is now available on Cameo Corporate Services’ website. Click on this link to get the allotment status.
Icodex Publishing IPO Dates & Listing Performance
| IPO Opening Date | 11 August 2025 |
| IPO Closing Date | 13 August 2025 |
| Finalization of Basis of Allotment | 14 August 2025 |
| Initiation of refunds | 18 August 2025 |
| Transfer of shares to demat accounts | 18 August 2025 |
| IPO Listing Date | 19 August 2025 |
| Opening Price on BSE SME | INR 81.6 per share (down 20%) |
| Closing Price on BSE SME | INR 77.55 per share (down 23.97%) |
Icodex Publishing Offer Lead Manager
INDCAP ADVISORS PRIVATE LIMITED
Suite 1201, 12th Floor, Aurora Waterfront, GN 34/1,
Sector 5, Salt Lake City, Kolkata 700091
Phone: 033 4069 8001
Email: [email protected]
Website: www.indcap.in
Icodex Publishing Offer Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700 / 2846 0390
Email: [email protected]
Website: www.cameoindia.com
Icodex Publishing Contact Details
ICODEX PUBLISHING SOLUTIONS LIMITED
102, First Floor, Suman Business Park, Kalyani Nagar,
Viman Nagar, Pune, Maharashtra – 411014, India
Phone: +91 8856907928
E-mail: [email protected]
Website: www.icodexsolutions.com
IPO FAQs
What is the Icodex Publishing offer size?
Icodex Publishing offer size is INR 40.38 – 42.03 crores.
What is the Icodex Publishing offer price band?
Icodex Publishing public offer price is INR 98 – 102 per share.
What is the lot size of the Icodex Publishing IPO?
Icodex Publishing offer lot size is 1,200 shares.
What is Icodex Publishing IPO GMP today?
Icodex Publishing IPO GMP today is INR 11 per share.
What is the Icodex Publishing kostak rate today?
Icodex Publishing kostak rate today is INR NA per application.
What is Icodex Publishing IPO Subject to Sauda rate today?
Icodex Publishing Subject to Sauda rate today is INR 9,500 per application.