Indentixweb IPO closing today: Retail demand strong, QIBs show no interest

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The three-day subscription window for the initial public offering (IPO) of Indentixweb is set to close today, March 28, 2025. The public offering has seen a muted response from investors but managed to secure full subscription on the final day.

 

Indentixweb IPO has been oversubscribed by nearly 1.09 times as of around 01:19 PM on Friday, March 28, according to data available on the BSE. The portion reserved for retail investors was subscribed 1.86 times, while non-institutional investors subscribed to only 88 percent of the reserved portion. Meanwhile, the quota reserved for qualified institutional buyers (QIBs) has seen no participation from investors yet.

 

Identixweb IPO details

Identixweb IPO comprises a fresh issue of 3.08 million equity shares worth ₹16.63 crore. There is no offer for sale (OFS) component. The public offering is available at a price band of ₹51-54 apiece.

 

A retail investor can bid for a minimum of one lot of 2,000 equity shares with an investment of ₹1,02,000. High-net-worth individuals are required to make a minimum investment of ₹2,16,000 for a minimum of two lots. 

 

Identixweb IPO grey market premium (GMP)

The unlisted shares of Identixweb were trading flat at ₹54, the upper price band, in the grey market, according to sources tracking unofficial markets.

 

Identixweb IPO allotment date, listing date

The basis of the allotment of shares is expected to be finalised on Tuesday, April 1, 2025. Shares of Identixweb will be listed on the BSE SME tentatively on Thursday, April 3, 2025, according to the red herring prospectus (RHP).

 

Skyline Financial Services serves as the registrar for the issue. Beeline Capital Advisors is the sole book-running lead manager.

 

From the net proceeds, the company plans to use ₹2.5 crore to invest in marketing to support its growth plans in India and internationally. ₹4.20 crore will be invested in market research and product development through talent hiring for the company. Additionally, it will invest ₹4.15 crore in its subsidiary, Munim ERP, for product development through talent hiring, and the remaining amount will be used for general corporate purposes, according to the RHP. 

 

About Identixweb

Incorporated in 2017, Identixweb is an IT services company offering Software as a Service (SaaS)-based digital product solutions. It provides e-commerce store development, web app development, UI/UX design, website development, customised software development, and support and maintenance, with a primary focus on Shopify application development. The company specialises in creating applications that enhance the functionality and performance of Shopify stores. In FY24, Identixweb’s revenue from operations stood at ₹6.66 crore, with a profit after tax (PAT) of ₹2.76 crore.