Identixweb IPO Day 1: Check latest GMP, subscription status, issue details, more

Identixweb IPO has opened for subscription on Wednesday, March 26 and will close on Friday, March 28. Identixweb IPO price band has been fixed in the range of ₹51 to ₹54 per equity share of face value of ₹10 each. Bids can be made for a minimum of 2,000 equity shares and in multiples of 2,000 equity shares thereafter.

Founded in 2017, Identixweb Limited is a tech firm that specializes in developing Shopify applications and providing tailored web solutions. The company offers a range of services, including the development of Shopify applications, web applications utilizing PHP and React, and WordPress plugin creation.

With a team of over 50 experts, Identixweb has launched more than 35 public Shopify applications and has successfully completed over 100 projects across various sectors, including e-commerce, fashion, fintech, and SaaS.

Identixweb has two subsidiaries: Munim ERP Private Limited and Identixweb LLC. Munim ERP Private Limited, a subsidiary of Identixweb Limited based in Surat, India, specializes in software for accounting and GST compliance, with a particular emphasis on ERP (Enterprise Resource Planning) solutions for diverse industries. It was established to enhance business management through technology.

As per the red herring prospectus, the company’s sole listed peer is Kody Technolab Ltd (with a P/E of 233.88).

Identixweb IPO subscription status

Identixweb IPO subscription status is 1%, on day 1 so far. The retail portion was subscribed 19%, and NII portion was subscribed 2% and Qualified Institutions Buyers is yet to be booked.

At 13:39 IST, the company has received bids for 2,00,000 shares against 20,50,000 shares on offer, according to data on chittorgarh.com

Identixweb IPO details

Identixweb IPO consists of a fresh issue of 30,80,000 equity shares, aggregating to ₹16.63 crore. There’s no offer for sale (OFS) component.

Identixweb IPO aims to allocate the net proceeds from the offering for several purposes, including funding marketing efforts to enhance the organization’s growth strategies both domestically and internationally. It will also invest in market research and product development by recruiting talent for the issuer company. Additionally, funds will be directed toward the subsidiary to support product development through talent acquisition. Finally, some proceeds will be used for general corporate purposes.

Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the Identixweb IPO, while Skyline Financial Services Private Ltd acts as the issue’s registrar. The market maker for the Identixweb IPO is Spread X Securities Private Limited.

Identixweb IPO GMP today

Identixweb IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹54 with no premium or discount in the grey market according to investorgain.com

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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