Icodex Publishing Solutions Shares Make Weak Debut on Stock Market, List at 20% Discount
Icodex Publishing Solutions Ltd, which launched its Initial Public Offering (IPO) on August 11, 2025 made its debut on Dalal Street today on August 19 2025. The shares of Icodex Publishing Solutions Ltd made a weak debut, listing at discount at both NSE and BSE.
The shares opened at ₹81.60 on the NSE, marking a discount of 20% over the IPO upper price band of ₹102. On BSE, the shares of Icodex Publishing Solutions opened at ₹77.55, marking a discount of23.97%.
Ahead of its listing, the Grey Market Premium of Icodex Publishing Solutions Ltd stood at ₹0, indicating a flat listing.
Icodex Publishing Solutions IPO Overall Subscription Status
(August 13, 2025, 5 PM)
On Day 3, Icodex Publishing Solutions IPO was subscribed 3.95 times. The public issue was subscribed 4.67 times in the individual investors category, 33.08 times in QIB (Ex Anchor), and 1.58 times in the NII category.
Icodex Publishing Solutions IPO Details
Icodex Publishing Solutions IPO is a bookbuilding of ₹42.03 crores. The issue is a combination of fresh issue of 0.34 crore shares aggregating to ₹34.64 crores and offer for sale (OFS) of 0.07 crore shares aggregating to ₹7.39 crores.
The issue price band is set at ₹98 to ₹102 per share. The minimum lot size for an application is 1200 and the minimum investment amount required for retail investor is ₹2,35,200.00 (2,400 shares).
Indcap Advisors Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Giriraj Stock Broking Pvt.Ltd.
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About Icodex Publishing Solutions Ltd
Founded in 2018, Icodex Publishing Solutions Ltd is a Pune-based software firm specializing in end-to-end SaaS solutions. The company develops proprietary tools like iCAPP and PaperPerfect, thus, leveraging AI, machine learning, and XML automation to streamline workflows.
It offers BPM, editorial support, quality assurance, and IT infrastructure services tailored for global publishing clients. Financially, Icodex reported revenue of ₹22.08 crore and profit after tax of ₹8.96 crore for the fiscal year ending March 2025.
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