Identixweb Limited IPO

IPO Snapshot

• IPO Dates: March 26–28, 2025
• Listing At: BSE SME
• Face Value: ₹10 per share
• Price Band: ₹51–54 per share
• Issue Size: 30.8L shares (₹16.63Cr)
• Lot Size: 2,000 shares (Min: ₹1.08L)

Key Dates

• Tentative Allotment: Tue, Apr 1, 2025
• Refunds Initiation: Wed, Apr 2, 2025
• Demat Credit: Wed, Apr 2, 2025

• Tentative Listing Date: Thu, Apr 3, 2025

Company Overview

Identixweb is a tech company that builds:

1. Shopify Apps – Tools to help online stores manage deliveries, boost sales, etc.
2. Custom Websites/Apps – Using PHP, Node.js, and WordPress for businesses.

Key Facts
35+ Shopify apps (e.g., tools for delivery scheduling, cart upgrades)
100+ projects done for e-commerce, fintech, and SaaS clients
64 employees – developers and tech expert.

Key Strengths
Niche Shopify expertise
High-margin business (44.86% PAT margin)
low debt (₹0.11Cr borrowings)

Financial Highlights (₹Cr)

Period	Sep-24	Mar-24	Mar-23
Revenue	4.79	6.66	6.27
PAT	2.00	2.77	1.35
Net Worth	12.30	10.29	4.67
Total Borrowing	0.11	0.11	0.46

 

IPO Objectives

1. Investment in marketing to support organization’s growth plans in India or Outside India

2. Investment into market research and product development through Talent Hiring for the issuer company
3. Investment in the Subsidiary for Product Development through Talent Hiring

Final Verdict

Listing Gains

• Current IPO Market: Bearish sentiment has impacted recent listings.
• Last 10 SME IPOs: Only 2 saw listing gains; majority listed at discount
• GMP Check Recommended: Grey Market Premium (GMP) will be crucial indicator for potential listing performance
• High-margin tech business typically commands premium
• Small issue size (₹16.63Cr) easier to absorb
• Recent profitable track record
• There might be some potential gain but it is not guaranteed in this market situation

Long-Term

• Pros: low debt, high margins, niche market position.
• Cons: Revenue inconsistency, Shopify dependency, small scale.
• Action: Wait for post-listing performance; monitor revenue stability and client diversification.

Disclaimer: This blog post is for informational purposes only. Please consult your financial advisor before making any investment decisions.

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                                                                                                                                                     Research Analyst