Identixweb makes positive debut, shares list at ₹55 on BSE SME

Shares of web solutions company Identixweb made a positve debut on the BSE SME platform on Thursday, April 3, 2025. The company's stock listed at ₹55 per share, up 1.8 per cent from the issue price of ₹54 per share.

 

The listing of Identixweb was slightly below the grey market estimates. Ahead of the listing, unlisted shares of Identixweb were trading at ₹58 per share, a premium of ₹4 or 7.1 per cent, in the grey market, according to the sources tracking unofficial markets. 

 

Identixweb IPO details

Identixweb IPO received a solid response from investors, with the issue being oversubscribed by only 26.15 times. Non-institutional investors (NIIs) led the demand and oversubscribed the portion reserved for them by 73.46 times. Retail Investors subscribed for 14.38 times the reserved quota, and Qualified institutional buyers (QIBs) subscribed for 11.19 times. 

 

 

The SME IPO was a book-built issue of ₹16.63 crore, comprising an entirely fresh issue of 3.08 million equity shares. The issue was available for subscription from Wednesday, March 26, 2025, till Friday, March 28, 2025, at a price band of ₹51-54 per share, with a lot size of 2000 shares. The basis of the allotment of company's shares was finalised on Tuesday, April 1, 2025.   ALSO READ | Retaggio Industries IPO allotment today; check status, GMP, likely listing

 

According to the red herring prospectus (RHP), from the net fresh issue proceeds the company aims to utilise ₹2.5 crore for investment in marketing to support organisation’s growth plans in India or outside India, ₹4.20 crore for investment into market research and product development through talent hiring for the issuer company, and ₹4.15 crore investment in subsidiary Munim ERP for product development through talent hiring. The remaining funds will be used for general corporate purposes.  

 

About Identixweb

Incorporated in 2017, Indentixweb provides Software as a service (SAAS) - based digital product solutions. The company offers e-commerce store development, web app development, UI/UX design, website development. It specialises in Shopify application development, which focuses on creating applications that enhance the functionality and performance of Shopify stores. 

 

In FY24, Identixweb’s revenue from operations grew 6.3 per cent year-on-year (Y-o-Y) to ₹6.66 crore from ₹6.26 crore in FY23. It reported a PAT of ₹2.76 crore in FY24, up 105 per cent from ₹1.34 crore in the previous fiscal.