Identixweb share price makes a lukewarm debut, stock opens with a mere 2% premium at ₹55 apiece on BSE SME

Identixweb share price made a lukewarm debut on BSE SME today. Identixweb share price today opened at ₹55, which is 1.85% higher than the issue price of ₹54.

The initial public offering (IPO) of Identixweb had a subscription period that ran from Wednesday, March 26, until Friday, March 28. With a face value of ₹10, shares in the Identixweb IPO is priced at ₹54. At least 2,000 of those shares are up for bid, and there are multiples of those shares available. Identixweb IPO subscription status was 26.15 times on the last day of bidding, according chittorgarh.com

Established in 2017, Identixweb Limited is a technology company focused on creating Shopify applications and offering customized web solutions. The firm provides various services, such as developing Shopify applications, crafting web applications using PHP and React, and creating WordPress plugins.

Identixweb has two subsidiary companies: Munim ERP Private Limited and Identixweb LLC. Munim ERP Private Limited, which is based in Surat, India, is a subsidiary of Identixweb Limited that specializes in software for accounting and GST compliance, particularly focusing on ERP (Enterprise Resource Planning) solutions for various sectors. It was created to improve business management through technological advancements.

According to the red herring prospectus, Kody Technolab Ltd is the only listed competitor of the company, featuring a P/E ratio of 233.88.

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.

The Identixweb IPO plans to use the funds raised from the offering for various purposes, including boosting marketing initiatives to support the company's growth strategies both in the domestic market and abroad. Furthermore, it will invest in market research and product innovation by hiring new talent for the issuer company. In addition, some of the funds will be allocated to the subsidiary to aid in product development through the acquisition of skilled professionals. Lastly, a portion of the proceeds will be utilized for general corporate needs.

Beeline Capital Advisors Pvt Ltd is the lead manager overseeing the Identixweb IPO, while Skyline Financial Services Private Ltd is responsible for acting as the registrar for the issue. The market maker for the Identixweb IPO is Spread X Securities Private Limited.

Identixweb IPO GMP today

Identixweb IPO GMP is +4. This indicates Identixweb share price were trading at a premium of ₹4 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Identixweb share price was indicated at ₹58 apiece, which is 7.41% higher than the IPO price of ₹54.

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

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