ICODEX Publishing Solutions Navigates IPO Launch with Rs 42.03 Crore Offering

ICODEX Publishing Solutions announced the pricing of its Rs 42.03 crore initial public offering (IPO) at a price band of Rs 98-102 per share, set to open on August 11. The IPO includes a fresh issue of 33.96 lakh shares and an offer for sale of 7.24 lakh shares.

This offering, slated to close on August 13, aims to raise funds for the purchase of new office premises and hardware, as well as to finance working capital requirements and general corporate purposes. The IPO will be launched on the SME platform of BSE, following received approvals.

Based in Pune, ICODEX develops software assisting research paper and academic article publication, and competes with firms like MPS Ltd and TNQ Tech. For the fiscal year FY25, the company reported revenues of Rs 21.87 crore and profits of Rs 8.96 crore. Indcap Advisors serves as the issue's sole book-running lead manager.

(With inputs from agencies.)