Identixweb IPO opens for subscription: Check price band, objectives, lot size, and key dates

Identixweb IPO: The initial public offer of technology company Identixweb Ltd opened for subscription on Wednesday, March 26. The price band has been set at ₹51 to ₹54 per equity share. The IPO will close on March 28.

The ₹16.63 crore initial share sale is a completely fresh issue of 30.80 lakh shares.

The net issue proceeds will be utilised for the following objects:

• Invest in marketing
• Research and product development
• Invest in subsidiary Munim ERP Private Limited
• Corporate general purposes

Identixweb IPO: Lot size

Retail investors can place bids for a minimum of 2,000 shares, needing an investment of ₹1,02,000. High net-worth individuals can apply for 4,000 shares worth ₹2,16,000.

The company has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Identixweb IPO: Key dates

The basis of allotment will take place on April 1. Refunds for unsuccessful investors will be initiated on April 2, while shares will be credited to the Demat account of allottees on the same day.

The listing on the BSE SME platform will take place on April 3.

Beeline Capital Advisors is the IPO's book-running lead manager, while Skyline Financial Services Pvt Ltd is the registrar.

About Identixweb

Established in 2017, Identixweb is an information technology firm providing software as a service (SAAS). It offers web app development, e-commerce store development, UI/UX design, customised software development, website development, and support and maintenance with a key focus on Shopify application development. It specialises in Shopify application development.

With more than 50 professionals, Identixweb has developed over 35 public Shopify apps, serving industries like e-commerce, fintech, fashion, and SaaS.

The firm has two subsidiaries: Identixweb LLC and Munim ERP Private Limited.

Identixweb's promoters, Priyankkumar Jivarajbhai Savani, Hiral Ankurbhai Lakhani, and Ankur Jagdishbhai Lakhani currently hold 89.34% stake, which will be reduced to 63.02% post-issue.