Identixweb IPO is a Book Built Issue valued at ₹16.63 crore, consisting of a fresh issue of 30.80 lakh shares. The IPO opened for subscription on March 26, 2025, and closed on March 28, 2025, with the allotment expected to be finalised by April 1, 2025. The company is set to list on BSE SME, with the tentative listing date scheduled for April 3, 2025.
The IPO price band is fixed between ₹51 to ₹54 per share. Retail investors can apply for a minimum lot size of 2,000 shares, requiring an investment of at least ₹1,02,000. Given the possibility of oversubscription, investors are advised to bid at the cutoff price, which amounts to ₹1,08,000. High Net-worth Individuals (HNIs) need to apply for a minimum of two lots (4,000 shares), amounting to ₹2,16,000.
Beeline Capital Advisors Private Limited is managing the IPO as the Book Running Lead Manager, with Skyline Financial Services Pvt Ltd as the registrar and Spread X Securities Private Limited as the market maker. For detailed information, refer to the Red Herring Prospectus (RHP).
Industry Outlook
- The IT sector contributed 7.5% to India's GDP in FY23 and is projected to reach 10% by 2025, with revenues expected to hit $350 billion by 2026. This rapid expansion presents strong opportunities for Identixweb Limited to scale its digital offerings and attract a larger customer base.
- India's IT spending is set to grow 11.1% in 2024, reaching $138.6 billion, with investments in cloud services projected at $5 billion annually by 2025.
- With 76 crore internet users and a projected need for 30 million digitally skilled professionals by 2026, India’s digital ecosystem is evolving rapidly. Identixweb Limited can benefit by tapping into this expanding user base and leveraging the growing talent pool to develop innovative digital solutions.
Identixweb IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used to enhance marketing efforts in India and international markets to drive business growth.
- Funds will be used for investment in market research and hiring skilled professionals to strengthen product innovation.
- Financial support for Munim ERP Private Limited to boost product development through talent acquisition.
- The remaining funds will be used for general corporate purposes.
About Identixweb Limited
Identixweb Limited, originally incorporated as Goyani Infra Private Limited in 2017, is a technology-driven company specialising in Software as a Service (SaaS)-based digital solutions. The company underwent a name change in 2019 and transitioned to a public limited entity in 2023. With expertise in e-commerce solutions, it primarily focuses on Shopify application development, offering over 10 conversion-optimised applications that enhance store functionality and performance.
With a strong presence in web and app development, the company provides services such as UI/UX design, website development, and customised software solutions. It leverages technologies like Node.js, PHP, React.js, and advanced web application development to deliver scalable and efficient digital solutions.
Identixweb Limited benefits from the experience of its promoters, Mr. Priyankkumar Jivarajbhai Savani and Mr. Ankur Jagdishbhai Lakhani, who collectively bring over 13 years of expertise in Shopify application development. Their leadership, along with contributions from the board and senior management, has driven the company’s expansion in the global e-commerce sector.
The company operates with two subsidiaries: Munim ERP Private Limited, based in India, focusing on ERP solutions for accounting and GST compliance, and Identixweb LLC in the U.S., which is currently in the process of equity subscription. With a commitment to delivering innovative and reliable Shopify solutions, Identixweb Limited continues to help merchants optimise their online businesses for growth and efficiency.
How To Check the Allotment Status of Identixweb IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Identixweb IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Identixweb IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Identixweb IPO
Registered office: Plot No. 240, C. S. No. 1730, 1st Floor, Nehru Nagar, L. H.
Road, Sy. No. 46/A+2, TPS-4, Surat – 395006, Gujarat, India
Phone: +91 9510888111
E-mail:compliance@identixweb.com
Identixweb IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares |
Not more than 50% of the Net Issue |
|
Retail Shares |
Not less than 35% of the Net Issue |
|
NII (HNI) Shares |
Not less than 15% of the Net Issue |
Identixweb IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2,000 |
₹1,02,000 |
|
Retail (Max) |
1 |
2,000 |
₹1,08,000 |
|
HNI (Min) |
2 |
4,000 |
₹2,16,000 |
Identixweb IPO Anchor Investors Details
Identixweb IPO secured ₹4.73 crore from anchor investors, with the anchor bidding taking place on March 25, 2025. Here is the list of Identixweb IPO anchor investors.
|
Bid Date |
March 25, 2025 |
|
Shares Offered |
8,76,000 |
|
Anchor Portion Size (In Cr.) |
4.73 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
May 1, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
June 30, 2025 |
Identixweb IPO Promoter Holding
Mr. Priyankkumar Jivarajbhai Savani, Mr. Ankur Jagdishbhai Lakhani and Mrs. Hiral Ankurbhai Lakhani are the promoters of the company.
|
Share Holding Pre-Issue |
89.34% |
|
Share Holding Post Issue |
63.02% |
Note: Equity dilution will be determined by subtracting the Share Holding Post Issue from the Share Holding Pre Issue.
Key Performance Indicators for Identixweb IPO
|
KPI |
Value |
|
RoE (%) |
37.70 |
|
RoCE (%) |
57.25 |
|
Price to Book Value |
3.84 |
|
PAT Margin |
44.86 |
|
Particulars |
Pre IPO |
Post IPO |
|
EPS (₹) |
3.76 |
3.84 |
|
P/E (x) |
14.36 |
14.07 |
Note: The Pre-IPO EPS is based on the pre-issue shareholding as per the RHP and the latest FY earnings as of March 31, 2024. The Post-Issue EPS is calculated using the post-issue shareholding and annualized FY earnings as of September 30, 2024, as stated in the RHP.
Identixweb IPO Prospectus
Identixweb IPO Registrar and Lead Managers
Identixweb IPO Lead Managers
- Beeline Capital Advisors Private Limited
Registrar for Identixweb IPO
Skyline Financial Services Private Limited
- Contact Number:02228511022
- Email Address: ipo@skylinerta.com
IdentixwebIPO Registrar
Financial Performance of Identixweb Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 632.90 | 622.11 |
| Profit After Tax (PAT) (in ₹ lakh) | 283.90 | 137.67 |
| Return on Equity (%) | 37.70 | 49.66 |
| Total Borrowings (in ₹ lakh) | 10.93 | 45.76 |
| Return on Capital Employed (%) | 57.25 | 62.56 |
| Operating Cash Flows (₹ in lakh) | 345.70 | 153.41 |
| EBITDA (in ₹ lakh) | 435.05 | 215.09 |
Know before investing
Strengths
8Identixweb Limited has a skilled team of developers, designers, and marketers.
Expertise in Shopify app development enhances e-commerce store functionality and growth.
Offers diverse development services, including Node.js, PHP, and React.js.
Focuses on client needs with tailored, business-driven digital solutions.
Strong commitment to innovation keeps services ahead of market trends.
Ensures quality and reliability with robust and scalable solutions.
Dedicated support and maintenance team ensures seamless client operations.
Expansion strategy includes Identixweb LLC in the USA for global reach.
Risks
8Identixweb Limited derives 85.41% of its revenue from Shopify Inc., increasing risk.
Legal proceedings against promoters and directors may impact business and finances.
Failure to sustain growth could affect operations and financial stability.
Expanding into new markets may lead to operational inefficiencies and risks.
Failure to develop new solutions on time may affect revenue.
Software defects or errors could lead to financial and reputational losses.
Hiring delays for product development may result in cost overruns.
Lack of owned office premises could disrupt business operations.
Peer Comparison of Identixweb Limited
| Company Name | EPS (Basic) | NAV (per share in ₹) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|
| Identixweb Limited | 3.86 | 14.08 | 27.39 | 3.86 |
| Kody Technolab Limited | 3.84 | 58.22 | 13.17 | 15.48 |
