Upcoming IPO: Identixweb files DRHP for BSE SME IPO

Identixweb, an IT company specializing in SaaS-based digital product solutions, has submitted a Draft Red Herring Prospectus (DRHP) with BSE SME for its upcoming Initial Public Offering (IPO). The IPO will include a fresh issuance of up to 3,080,000 equity shares, each with a face value of ₹10.

The objective of the issue is to invest in marketing to support the organization’s growth plans in India and outside India, invest in market research and product development through talent hiring for the issuer company, invest in the subsidiary for product development through talent hiring, and for general corporate purposes.

Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Skyline Financial Services Private Limited will serve as the Registrar to the Issue.

About Identixweb

The company is involved in providing software as a service (SAAS)-based digital product solution. It offers e-commerce store development, web app development, UI/UX design, Website development, customized software development, support, and maintenance with a primary focus on Shopify application development.

The company offers e-commerce store development, web app development, UI/UX design, website development, customized software development, support, and maintenance with a primary focus on Shopify application development.

The primary goal of the company is to deliver applications online, eliminating the need for installation and maintenance. This approach simplifies software management. Its products include more than 10 Shopify applications that are conversion-optimized and tailored to meet customer needs. It provides its products and services worldwide across a wide range of sectors, as per the DRHP report. 

Financials

The revenue from operations increased from ₹622.11 lakhs in FY 2022-23 to ₹632.90 lakhs in FY 2023-24, showing an increase of 1.73%. Its total revenue from operations, revenue from the sale of products and revenue from the sale of services constitute 85.41%, amounting to ₹540.55 lakhs and 14.59%, amounting to ₹92.35 lakhs in FY 2023-24 of total revenue from operations, respectively.

The company recorded an increase of ₹146.23 lakhs from ₹283.90 lakhs in FY 2023-24 to ₹137.67 lakhs in FY 2022-23. The profit after tax for FY 2023-24 was 43.03% of the total income, and it was 21.97% of total income for FY 2022-23, DRHP report showed. 

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