Icodex Publishing Solutions Limited IPO

Icodex Publishing Solution Limited IPO is a bookbuilt issue of ₹42.03 crores, which is a mix of both 33.96 lakh fresh equity shares worth ₹34.64 crores and 7.25 lakh offer-for-sale shares of ₹7.39 crores. The IPO subscription will be opened publicly on 11th August, 2025 and it will be closed by 13th August, 2025. Allotment for the issue will be completed on 14th August, 2025 with the shares likely to be listed on the BSE SME platforms on 19th August 2025. Retail investors can apply for a minimum lot size of 2,400 shares, which will be of ₹2,35,200 and HNIs can apply for 3,600 shares worth ₹3,67,200.

Company Background

Icodex was established in the year 2018 as a technology-driven corporation that specializes in providing software products and services for the scholarly publishing sector of India. They provide automated solutions that include cloud-based platforms and AI-equipped tools that help in streamlining the publishing work process, starting from manuscript submission to editing, layout designing and final submission.

Operations & Product Range

Facility and Services

Headquartered in Mumbai, Icodex Publishing Solution provides tech-driven technology solutions through a comprehensive range of products. Icodex’s primary products are iCAPP, which is a publishing workflow platform, PaperPerfect, which is a tool that assists researchers, research institutions and universities to form well-structured manuscripts, eAssistant, iProof and FlexiPage, as well as many more such features offered by the company, enabling high-quality editing for content.

Brands and Market Presence

Icodex Publishing has established a firm presence in the market as a technology-driven corporation that provides end-to-end software products and services in order to cater to the scholarly and academic publishing industry globally and domestically. The company enjoys well-established relationships with renowned global publishing clients, which helps in enhancing its credibility in the market and promotes sustainable business growth with a high regional impact located in Pune and multiple support offices in other regions of India that help in assisting clients worldwide.

Revenue Channels

A major part of the company’s income is generated through its cloud-based software services like FlexiPage, iCAPP and PaperPerfect that help in providing end-to-end services from manuscript submission to publication. The company also earns its revenue from BPM (Business Process Management) services to provide editorial support. Its infrastructure setup, server and technical support services also contribute to revenue generation for the company.

Management & Shareholding

Promoters and Shareholders

The promoters of Icodex Publishing Solutions Limited IPO are Kamalakkannan Govindaraj and Chetan Shankarlal Soni, who hold 88% of the company’s shares. This shareholding is expected to be diluted after the company’s IPO listing on 11th August.

Board Members

Icodex’s current board includes Kamalakkannan Govindaraj who is the Chairman & Managing Director, Chetan Shankarlal Soni who is the Whole-Time Director, CTO as well as Co-founder of Icodex, Shilpa Kiran G & Venkata Subbarao Kalva, the Independent Directors of the company and Anand Pravin Pande who is Icodex’s Non-Executive Director.