Icodex Publishing Solutions shares off to a poor start, list at 20% discount to IPO price on BSE SME
Within seconds of listing, the Icodex Publishing Solutions share price declined to the 5% lower price band of ₹ 77.55, signalling intense selling pressure.
Icodex Publishing Solutions' IPO listing price was below expectations. Icodex Publishing Solutions IPO GMP (grey market premium) signalled a listing at par to the issue price.
Icodex Publishing Solutions IPO received decent demand from investors. At the end of the three-day bidding period (August 11 to August 13), the offer was subscribed 3.95 times.
The retail portion was booked 4.67 times, the non-institutional investor (NII) quota was subscribed 1.58 times and the qualified institutional buyer (QIB) segment received a massive 33.08 times bids.
Icodex Publishing Solutions IPO, worth ₹ 42.03 crore, was a mix of fresh issue of 0.34 crore shares, aggregating to ₹ 34.64 crore, and an offer for sale (OFS) of 0.07 crore shares, worth ₹ 7.39 crore.
Icodex Publishing Solutions IPO price band was set at ₹ 102 per share. The lot size for an application is 1,200. The minimum amount of investment required by a retail investor was ₹ 2,35,200, as they had to apply for at least two lots.
The company plans to use the funds raised from the fresh share sale for the purchase of new office premises, hardware for the new office, working capital needs and general corporate purposes.
Indcap Advisors was the book-running lead manager, and Cameo Corporate Services acted as the registrar of the issue.
Incorporated in 2018, Icodex Publishing Solutions is engaged in software product development for the scholarly publishing industry. The company creates software solutions that support the entire publishing workflow—from manuscript preparation to print and digital content distribution.
In addition to software products, Icodex provides Business Process Management (BPM) services, including quality assurance, editorial support, IT services such as hardware installation, and back-end operational assistance. These services are designed to help global publishing clients manage and streamline the entire publishing process effectively.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
7 hours ago
- Mint
BSE SME stock gains 4% as board announces record date for 8:5 bonus share issue. Details here
BSE SME stock DMR Hydroengineering & Infrastructures gained as much as 4.76 per cent to ₹ 149.80 on Bombay Stock Exchange (BSE) on Wednesday, August 20, after the company announced the record date of its 8:5 bonus issue. The stock opened at ₹ 147 in early morning session on Wednesday, as compared to previous close of ₹ 143 on Tuesday. The BSE SME stock is currently trading over 39 per cent away from its 52-week high price of ₹ 208.46, touched on September 15 last year. On August 20, the company announced that it has fixed Thursday, August 28, as the record date for determining shareholders eligibility for the bonus equity shares. 'In this regard, we wish to inform that the Company has fixed Thursday, August 28, 2025 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company,' the company said in an exchange filing. In July, the company had announced that the board has approved a bonus issue of equity shares in the ratio of 8:5. "Issuance of fully paid-up Bonus equity shares in the proportion of 5:8 i.e., 8 (Eight) new fully paid-up equity share for every 5 (Five) existing fully paid-up equity share held on Record Date, subject to approval of shareholders in the upcoming Annual General Meeting of Company and other applicable statutory and regulatory approvals, as may be required," said DMR Hydroengineering & Infrastructures in a stock exchange filing. According to the board resolution dated July 14, 2025, the company will allot eight fully paid equity shares for every five existing shares held by eligible shareholders on the record date. As per the financial results for the year ended March 31, 2025, the bonus share issuance will be funded through the company's free reserves and securities premium. Following this allotment, the company's paid-up share capital will increase from ₹ 3.98 crore to ₹ 10.37 crore. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
&w=3840&q=100)
Business Standard
7 hours ago
- Business Standard
Retail investors drive demand for Gem Aromatics IPO; subscription nears 2x
Gem Aromatics IPO subscritpion status: Retail investors are leading the demand for the initial public offering (IPO) of specialty ingredients manufacturer Gem Aromatics (Gem Aromatics IPO) on the second day of its subscription, Wednesday, August 20, 2025. This is closely followed by non-institutional investors (NIIs), and qualified institutional buyers (QIBs). According to BSE data, the Gem Aromatics IPO has been oversubscribed by 1.78 times by 12:42 PM on Wednesday. Among the individual categories, retail investors and NIIs have oversubscribed the categories reserved for them by 2.05 times and 1.93 times, respectively. QIBs, on the other hand, have oversubscribed the category reserved for them by 1.18 times. Gem Aromatics IPO details Gem Aromatics seeks to raise ₹451.25 crore from the public offering, which comprises an entirely fresh issue of 5.4 million equity shares worth ₹175 crore, and an offer for sale (OFS) of 8.5 million equity shares, aggregating up to ₹276.25 crore. Gem Aromatics IPO is being offered at a price band of ₹309-325 per share, with a lot size of 46 shares. To bid for a minimum of one lot or 46 shares of the Gem Aromatics IPO, a retail investor would need a minimum of ₹14,950 (considering the upper price band). A retail investor can bid for a maximum of 13 lots or 598 shares of Gem Aromatics with an investment amount of ₹1,94,350. Gem Aromatics IPO grey market premium (GMP) today The unlisted shares of Gem Aromatics continue to command a decent premium in the grey market on the second day of its subscription. Sources tracking unofficial market activities revealed that Gem Aromatics shares were trading at around ₹351 per share, reflecting a grey market premium (GMP) of ₹26 or 8 per cent over the upper end of the issue price. Gem Aromatics IPO review The company has received favorable reviews from brokerages for its public offering. Analysts at Swastika Investmart have suggested that investors subscribe to the Gem Aromatics IPO, while those at Anand Rathi Research have recommended bidding for the issue from a long-term perspective. READ MORE Gem Aromatics IPO allotment date, listing date The three-day subscription window to bid for the public issue is set to close on Thursday, August 21, 2025. Following that, the basis of allotment of Gem Aromatics IPO shares is likely to be finalised on Friday, August 22, 2025. The successful allottees will receive the company's shares in their demat accounts tentatively by Monday, August 25. Shares of Gem Aromatics are scheduled to list on BSE SME, tentatively on Tuesday, August 26, 2025. Gem Aromatics IPO registrar, lead manager For the public offering of Gem Aromatics, KFin Technologies serves as the registrar, while Motilal Oswal Investment Advisors is the sole book-running lead manager. Gem Aromatics IPO objective According to the Red Herring Prospectus (RHP), Gem Aromatics will not receive any proceeds from the OFS. The proceeds will be allocated to each of the selling shareholders, after deducting the offer-related expenses and relevant taxes. Gem Aromatics, however, proposes to utilise the proceeds from the fresh issue for the prepayment and/or repayment, in full or in part, of certain outstanding borrowings availed by the company and its subsidiary, Krystal Ingredients. The company will further deploy the proceeds for general corporate purposes. About Gem Aromatics Gem Aromatics is a manufacturer of specialty ingredients, including essential oils, aroma chemicals, and value-added derivatives in India, with a track record of over two decades. The company offers a diversified portfolio of products, ranging from Mother Ingredients to various Value-Added Derivatives. Its products find applications across a broad spectrum of industries, such as oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness and pain management, and personal care.
Mint
a day ago
- Mint
LGT Business Connextions IPO: Issue booked 21% on Day 1. Check GMP and other key details
LGT Business Connextions IPO: The initial public offering (IPO) of LGT Business Connextions, which opened on the BSE SME platform today, August 19, will remain open for subscription till Thursday, August 21. LGT Business Connextions IPO is worth ₹ 28.09 crore. The offer consists of a fresh issue of ₹ 25.28 crore and an offer-for-sale (OFS) component worth ₹ 2.81 crore. LGT Business Connextions IPO is a fixed price issue of ₹ 107 per share. Investors can apply for the SME issue in lots of 1200 shares. Retail investors need to apply for at least two lots, requiring an investment of 2,56,800. The company plans to use the funds raised from the fresh share sale for capital expenditure, working capital needs and general corporate purposes. The allotment for the LGT Business Connextions IPO is expected to be finalised on August 22, 2025. Meanwhile, the tentative listing date for LGT Business Connextions shares is August 26. LGT Business Connextions IPO was subscribed 21% as of 5 pm on the first day of the book-building process. The retail portion was booked 18% and the non-institutional investor (NII) quota was subscribed 23%. The issue received bids for 5,12,400 shares as against 24,93,600 shares on offer. LGT Business Connextions IPO GMP, or grey market premium, trend was tepid. On Tuesday, LGT Business Connextions IPO GMP was nil. This means shares of LGT Business Connextions were trading at par with the issue price and neither at a discount nor a premium to the IPO price. If the current trend prevails, LGT Business Connextions IPO listing price could be the same as the IPO price. LGT Business Connextions operates as a service aggregator, connecting customers to a broad network of third-party providers, including hotels, airlines, car rentals, cruise lines, and other travel-related services. The company offers a comprehensive range of travel solutions, including customised tourism packages, MICE (Meetings, Incentives, Conferences, and Exhibitions) travel, cruise bookings, hotel reservations, in-transit arrangements, and local sightseeing tours. It also provides support for trade fair travel plans and bespoke itineraries, catering to both individual travellers and corporate clients. In addition to packaged tours, the company provides standalone services such as hotel accommodations, ticket booking, and visa processing. Travel packages are tailored for both domestic and international markets, serving individuals, families, and large groups. Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
