Identixweb IPO : Price, Details, And GMP

Identixweb IPO-Complete Overview

Identixweb IPO under the SME IPO category is a book-build issue of Rs.16.63 Cr by Identixweb Limited which was incorporated in 2017. The company specializes in technology development for Shopify app development and customized web solutions. Services offered by the company are Shopify app development, PHP and React web app development, and WordPress plugin development.

Identixweb employs more than 50 professionals and has developed 35 public Shopify apps to accomplish more than 100 projects covering different industries such as e-commerce, fashion, fintech, and SaaS.

Services:

Shopify Application Development: The company makes Shopify apps that enhance store activity or make it easier to run that store or generate more sales.

Node.js Development: The company uses Node.js to develop fast, efficient servers that will be able to run highly interactive websites and applications.

PHP Development: Dynamic site and app development using PHP for rich, interactive experiences with and without databases.

Web Application Development: The company designs very convenient web applications for shopping, email, and social networking across devices.

 

Product Portfolio:

Stellar Delivery Date & Pickup: This is a handy solution for the management of order delivery.

iCart Cart Drawer Cart Upsell: For growth-oriented Shopify merchants, iCart's comprehensive cart upsell & cart cross-sell solution can help you increase the average purchase size in your store.

TablePress (Data Tables) : TablePress lets you create tables that are easily embedded, using a simple shortcode, into blogs, pages and text widgets.

WordPress Plugin: Accelerate your online sales with an excellent WooCommerce upsell plugin that enables you to gain more conversions and increases your revenues effortlessly.

 

Identixweb IPO Overview

This Identixweb IPO date is on 26 Mar 2025, and its ‘initial public offering’ will end on 28 Mar 2025. 

The Rs.16.63 crore new SME IPO comprises a wholly fresh issue of 30.80 lac Shares.

This upcoming IPO date is from Mar 26 to Mar 28, 2025. Identixweb IPO price is Rs.51 to Rs.54 for each Share. 

The expected Identixweb IPO listing date is Thursday, 03 April 2025, and listing at BSE and SME.

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Lac)

Period	30 Sep 2024	31 Mar 2024	31 Mar 2023
Total Assets	14.57	11.96	6.13
Total Revenue	4.79	6.66	6.27
PAT	2	2.77	1.35
Net Worth	12.3	10.29	4.67
Total Reserves & Surplus	4.94	2.93	4.59
Borrowings	0.11	0.11	0.46

 

Cash Flows

(Amount in lac)

Net Cash Flow In Multiple Activities	30 Sep 2024	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	113.22	345.69	153.42
Net Cash Flow Investing Activities	(366.33)	(448.32)	(292.22)
Net Cash Flow Financing Activities	-	227.52	276.17

 

Product And Service Revenue Breakdown

(Amount in lac)

Particulars	30 Sep 2024	31 Mar 2024	31 Mar 2023
Sales of Product
Export Sales	247.10	540.55	399.14
Sales of Services
Export Sales	93.65	53.12	222.96
Domestic Sales	78.21	39.23	-
Total Revenue from Operations	418.95	632.90	622.11

 

State-wise Revenue Breakdown  

(Amount in lac)

Particulars	30 Sep 2024	31 Mar 2024	31 Mar 2023
Karnataka	0.59	2.49	-
Tamil Nadu	0.17	-	-
Gujarat	77.45	36.74	-

(Source: RHP)

 

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Marketing expenditures to promote an organization's expansion goals, whether inside or outside of India

• The issuer company's investment in product development and market research through talent hiring

• Investing in the Product Development Subsidiary by Hiring Talent

• General corporate purposes.
  
  

Click for the IPO application status check.

 

Peers of Identixweb Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Kody Technolab Limited	10	3.84	233.88

 

Evaluation

The Identixweb Limited IPO price is Rs.51 to Rs.54 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs.3.86 from the last year, the resulting P/E ratio is 13.98x.

Considering the weighted EPS of Rs.3.98 for the last three years, the P/E ratio is 13.56x.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is NA.

Particulars	P/E Ratio (x)
Highest	233.88
Lowest	233.88

 

IPO's Strengths

• Skilled professional team and strong leadership

• Personalised approach

• All-Inclusive Development Services

• Focused on the Client

• Change and creativity.

 

IPO’s Weaknesses

• Approximately 85.41% of the company’s revenue stems from one single customer (Shopify Inc.). The company is overly dependent, which creates a significant risk if that customer decreases or ceases business.

• More than 99% of the company’s revenue comes from Shopify's top ten customers. The loss of any subset of these customers would negatively impact the business and financial performance.

• Considering interest rate variations and inflation, the cost structure and operating margins over profitability may be compromised.

 

Identixweb IPO GMP

SME IPO GMP has not started as of 24 Mar 2025.

IPO Timetable (Tentative)

The IPO opening date is from March 26 to March 28, 2025, with allotment on April 01, refund initiation on April 02, and listing on Apr 03, 2025.

Events	Date
IPO Opening Date	Mar 26, 2025
IPO Closing Date	Mar 28, 2025
IPO Allotment Date	Apr 01, 2025
Refund Initiation	Apr 02, 2025
IPO Listing Date	Apr 03, 2025

 

Identixweb IPO Details 

The IPO with a Face Value of Rs.10 per share offers a total issue size of 30,80,000 Shares (Rs.16.63 Cr).

IPO Opening & Closing date	26 Mar, 2025 to Mar 28, 2025
Face Value	Rs.10 per Share
Issue Price	Rs.51 to Rs.54 per Share.
Lot Size	2000 Shares
Issue Size	30,80,000 Shares (Rs.16.63 Cr)
Offer for Sale	-
Fresh Issue	30,80,000 Shares (Rs.16.63 Cr)
Listing at	BSE, SME
Issue Type	Book Build Issue IPO
Registrar	Skyline Financial Services Private Ltd.

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (2000 Shares) amounting to Rs.1,08,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (4000 Shares) amounting to Rs.2,16,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	35%

 

Promoters And Management of Identixweb Ltd.

• Mr. Priyankkumar Jivarajbhai Savani

• Mr. Ankur Jagdishbhai Lakhani

• Mrs. Hiral Ankurbhai Lakhani.

Pre-Issue Promoter Shareholding	89.34%
Post-Issue Promoter Shareholding	63.02%

 

IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.

 

Dividend Policy

The company has not paid dividends in the last three fiscals.

 

Conclusion

Identixweb IPO is from March 26 to March 28, 2025, per share. The company has shown steady growth, focusing on Shopify app development and web solutions. However, its heavy dependence on a single client (Shopify Inc.) is a big risk. Investors can consider this IPO with caution, keeping both growth potential and risks in mind.

 

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Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions. The author does NOT through this blog intend to involve readers in any investment or trading activities.