Identixweb Set to Go Public: Files for BSE SME IPO with SEBI Approval – New Listing Coming Soon

Identixweb, an IT company that specializes in SaaS-based digital solutions, has filed its Draft Red Herring Prospectus (DRHP) with BSE SME for an upcoming Initial Public Offering (IPO). This IPO will offer 3,080,000 new equity shares, each priced at ₹10.

The main goal of this IPO is to raise funds for marketing to help the company’s growth both in India and abroad. The money will also be used for market research, hiring talent for product development, and for general business purposes.

Beeline Capital Advisors Private Limited will act as the Book Running Lead Manager for the IPO, and Skyline Financial Services Private Limited will handle the registrar duties.

About Identixweb

Identixweb provides digital product solutions using Software as a Service (SaaS). The company specializes in e-commerce store development, web app development, UI/UX design, customized software development, and more, with a key focus on Shopify app development. Their goal is to simplify software management by offering online applications that don’t require installation or maintenance. The company has over 10 Shopify apps designed to improve customer conversions and serves clients worldwide across different industries.

Financial Performance

Identixweb’s revenue from operations increased slightly from ₹622.11 lakhs in FY 2022-23 to ₹632.90 lakhs in FY 2023-24, a rise of 1.73%. In FY 2023-24, 85.41% of the revenue came from product sales (₹540.55 lakhs), and 14.59% from services (₹92.35 lakhs). The company’s profit after tax also increased, accounting for 43.03% of total income in FY 2023-24, compared to 21.97% in FY 2022-23.

The company aims to use this IPO to fuel further growth and continue expanding its digital product offerings.