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Identixweb Ltd IPO
Status: Closed
Overview
IPO date
26 Mar 2025 to 28 Mar 2025
Face value
₹ 10 per share
Price
₹ 51 to ₹54 per share
Issue Size
3,080,000 shares
(aggregating up to ₹ 16.63 Cr)
(aggregating up to ₹ 16.63 Cr)
Allotment Date
01 Apr 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
Objectives of Identixweb Ltd IPO
Initial public issue of 30,80,000 equity shares of face value of Rs. 10/- each of Identixweb Limited ("Identixweb" or the "Company" or the "Issuer") for cash at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share (the "Issue Price") aggregating to Rs. 16.63 crores ("the Issue"), of which 1,54,000 equity shares of face value of
Rs. 10/- each for cash at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share aggregating to Rs. 0.83 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 29,26,000 equity shares of face value of Rs. 10/- each at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share aggregating to Rs. 15.80 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 29.50 % and 28.02 %, respectively, of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each.
Identixweb Ltd IPO Strategy
- Broaden our Portfolio of Products and Services.
- Acquire new accounts and deepen key account relationships.
- Customer Satisfaction.
- Expand our operation in the geographies where we have presence and also in other geographies.
About Identixweb Ltd
Identixweb Limited was originally incorporated as Goyani Infra Private Limited' as a Private Limited Company, vide Certificate of Incorporation dated July 28, 2017, issued by the Registrar of Companies, Central Registration Centre. Later on, Company name was changed from Goyani Infra Private Limited' to Identixweb Private Limited' and a Certificate of Incorporation pursuant to change of name dated September 27, 2019 was issued to Company by the Registrar of Companies - Ahmedabad. Subsequently, Company was converted to public limited company and the name was changed to 'Identixweb Limited' and a fresh certificate of incorporation dated December 21, 2023 was issued to our Company by Registrar of Companies - Ahmedabad.
Identixweb, as an IT firm, offers E-Commerce Store Development, Web App Development, UI/UX Design, Website development, Customize Software Development, support and maintenance. It offer website development and Shopify development services. It is specialized in Shopify App Development, Node.JS development, PHP Development, Web App Development, React.JS Development, and many more.
The Company has 2 subsidiaries named Munim ERP Private Limited and Identixweb LLC. In 2018, the Company released its first digital product as a Shopify App and built more digital products. The Company was taken over by new Management in 2019. Resulting this, the Main Object of the Company was changed from Infrastructure Activities to Information Technology related Activities. In 2020, the Company was recognized as Start-up by Department for Promotion of Industry and Internal Trade.
The Company is planning an IPO of 3080000 Equity Shares through Fresh Issue.
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T&C*
Strengths vs Risks of Identixweb Ltd
Know the pros & cons
Strengths
Skilled Professional Team and Strong Leadership.- Tailored Solutions.
- Comprehensive Development Services.
- Client-Centric Approach.
- Innovation and Adaptability.
- Quality and Reliability.
- Support and Maintenance.
Risks
- Majority of its revenues are generated from single customer Shopify Inc. Any adverse development affecting the company operations in this region could have an adverse impact on its business, financial condition and results of operations.
- The company Promoters and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties which may adversely affect its business, financial condition and results of operations.
- If the company is unable maintain out growth successfully, its results of operations and financial condition may be adversely affected.
- If the company does not successfully anticipate market needs or develop and introduce new solutions that meet users' needs on a timely basis, its may not be able to compete effectively and the company revenue, reputation, financial conditions, results of operations and cash flows may be adversely affected.
- Any negative cash flows in the future would adversely affect our cash flow requirements, which may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
- The process of product development is expensive, time-consuming, and uncertain.
- Undiscovered software design defects, errors, or failures may lead to a loss of or delay in the market acceptance of our products and services or give rise to liabilities that could significantly and adversely impact our business, financial health, and operational outcomes.
- The company intend to develop products under the company and its subsidiary i.e., Munim ERP Private Limited through talent hiring from net proceeds. In case, there is a delay in development of product, such delay can affect its financial position.
- The company has not yet entered into any definitive agreement in relation to the hiring of the for the project its intend to fund through the company Net Proceeds in our company as well as its Subsidiary i.e., Munim ERP Private Limited.
- The company does not own the registered office and other office premises. Any dispute in relation to lease of its premises would have an adverse effect on the company business and results of operations.
- There may be potential conflict of interests between the Company and promoter group entities or enterprises promoted by its Promoters or directors or in which its promoters / directors may be interested.
- Any inability to license or incorporate software and technology rights held by third parties in its solutions may adversely impact the company business, financial position, results of operations and cash flows.
- Its pricing structures does not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, then certain of its products could be or become unprofitable.
- The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
- There are certain delay in filing of returns and statutory e-forms with the concerned Registrar of Companies.
- Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on its financial condition.
- Intense competition in the market for technology services could affect its pricing, which could reduce the company share of business from clients and decrease its revenues and profitability.
- Its may need to change the company pricing models to compete successfully.
- Failures to offer customer support in a timely and effective manner may adversely affect its relationships with the company customers.
- The company is subject to risks associated with expansion into new markets.
- Its may be liable to the company clients, vendors and aggregator platforms for any breach of terms or conditions of agreement entered into by it with them, which could harm its reputation and cause the company to lose clients.
- The company has entered into a number of related party transactions and may continue to enter into such transactions under AS 18, in the future, and there can be no assurance that the company could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Its insurance coverage may not adequately protect the company against certain operating hazards and this may have a material adverse effect on its business.
- Changing regulations in India could lead to new compliance requirements that are uncertain. The regulatory environment in which the company operates is evolving and is subject to change.
- The company requires certain approvals and licenses in the ordinary course of business, some of the approvals are required to be transferred in the name of identixweb Limited', the company is yet to update the some of the said registrations and the failures to successfully update such registrations would adversely affect the company operations, results of operations and financial condition.
- Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
- The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
- In addition to normal remuneration, other benefits and reimbursement of expenses to its Promoters, Directors, key Managerial Personnel and; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves as well as between the Company and its Entities in which the company Directors/ Promoters/KMPs are interested. The Company in future may enter in related party transactions subject to necessary compliances.
- The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price.
- Its success depends heavily upon the company Promoters, Directors, Key Managerial Personnel and Senior Managerial Personnel for their continuing services, strategic guidance and financial support. Its success depends heavily upon the continuing services of Promoters, Directors, Key Managerial Personnel and Key Managerial Personnel who are the natural person in control of the Company.
- Its Promoters and Promoter group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The company faces competition from both domestic as well as international markets and its inability to compete effectively may have a material adverse impact on its business and results of operations.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Industry information included in this Red Herring Prospectus has been derived from industry sources There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the company Equity Shares.
- Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- The company inability to effectively implement its business and growth strategy may have an adverse effect on the company operation and growth.
Identixweb Ltd Peer Comparison
Understand the company’s industry standing
Identixweb Ltd
Kody Technolab Ltd
Face Value
10
10
Standalone / Consolidated
Standalone
Standalone
Total Income Rs. Cr.
6.329
22.457
EPS-Basis
3.86
3.84
EPS-Diluted
---
---
NAV Per Share
14.08
58.22
P/E-Basic EPS
---
233.88
P/E-Diluted EPS
---
---
RONW(%)
27.39
13.17
Latest NAV Period
---
---
Latest NAV
---
---
How to check the allotment status of Identixweb Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 26 Mar 2025 & closes on 28 Mar 2025.
Identixweb Limited was originally incorporated as Goyani Infra Private Limited' as a Private Limited Company, vide Certificate of Incorporation dated July 28, 2017, issued by the Registrar of Companies, Central Registration Centre. Later on, Company name was changed from Goyani Infra Private Limited' to Identixweb Private Limited' and a Certificate of Incorporation pursuant to change of name dated September 27, 2019 was issued to Company by the Registrar of Companies - Ahmedabad. Subsequently, Company was converted to public limited company and the name was changed to 'Identixweb Limited' and a fresh certificate of incorporation dated December 21, 2023 was issued to our Company by Registrar of Companies - Ahmedabad.
Identixweb, as an IT firm, offers E-Commerce Store Development, Web App Development, UI/UX Design, Website development, Customize Software Development, support and maintenance. It offer website development and Shopify development services. It is specialized in Shopify App Development, Node.JS development, PHP Development, Web App Development, React.JS Development, and many more.
The Company has 2 subsidiaries named Munim ERP Private Limited and Identixweb LLC. In 2018, the Company released its first digital product as a Shopify App and built more digital products. The Company was taken over by new Management in 2019. Resulting this, the Main Object of the Company was changed from Infrastructure Activities to Information Technology related Activities. In 2020, the Company was recognized as Start-up by Department for Promotion of Industry and Internal Trade.
The Company is planning an IPO of 3080000 Equity Shares through Fresh Issue.
Identixweb Ltd IPO will close on 28 Mar 2025.
- Skilled Professional Team and Strong Leadership.
- Tailored Solutions.
- Comprehensive Development Services.
- Client-Centric Approach.
- Innovation and Adaptability.
- Quality and Reliability.
- Support and Maintenance.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Priyankumar Jivarajbhai Savani | 3230000 | 43.88 | 3230000 | 30.93 |
| 2 | Ankur Jagdishbhai Lakhani | 3230000 | 43.88 | 3230000 | 30.93 |
| 3 | Hiral Ankurbhai Lakhani | 9025 | 0.12 | 9025 | 0.09 |
| 4 | Jivrajbhai Dhanjibhai Savani | 7980 | 0.11 | 7980 | 0.08 |
| 5 | Hansaben Jivrajbhai Savani | 7980 | 0.11 | --- | --- |
- Majority of its revenues are generated from single customer Shopify Inc. Any adverse development affecting the company operations in this region could have an adverse impact on its business, financial condition and results of operations.
- The company Promoters and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties which may adversely affect its business, financial condition and results of operations.
- If the company is unable maintain out growth successfully, its results of operations and financial condition may be adversely affected.
- If the company does not successfully anticipate market needs or develop and introduce new solutions that meet users' needs on a timely basis, its may not be able to compete effectively and the company revenue, reputation, financial conditions, results of operations and cash flows may be adversely affected.
- Any negative cash flows in the future would adversely affect our cash flow requirements, which may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
- The process of product development is expensive, time-consuming, and uncertain.
- Undiscovered software design defects, errors, or failures may lead to a loss of or delay in the market acceptance of our products and services or give rise to liabilities that could significantly and adversely impact our business, financial health, and operational outcomes.
- The company intend to develop products under the company and its subsidiary i.e., Munim ERP Private Limited through talent hiring from net proceeds. In case, there is a delay in development of product, such delay can affect its financial position.
- The company has not yet entered into any definitive agreement in relation to the hiring of the for the project its intend to fund through the company Net Proceeds in our company as well as its Subsidiary i.e., Munim ERP Private Limited.
- The company does not own the registered office and other office premises. Any dispute in relation to lease of its premises would have an adverse effect on the company business and results of operations.
- There may be potential conflict of interests between the Company and promoter group entities or enterprises promoted by its Promoters or directors or in which its promoters / directors may be interested.
- Any inability to license or incorporate software and technology rights held by third parties in its solutions may adversely impact the company business, financial position, results of operations and cash flows.
- Its pricing structures does not accurately anticipate the cost and complexity of performing its work and if the company is unable to manage costs successfully, then certain of its products could be or become unprofitable.
- The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
- There are certain delay in filing of returns and statutory e-forms with the concerned Registrar of Companies.
- Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on its financial condition.
- Intense competition in the market for technology services could affect its pricing, which could reduce the company share of business from clients and decrease its revenues and profitability.
- Its may need to change the company pricing models to compete successfully.
- Failures to offer customer support in a timely and effective manner may adversely affect its relationships with the company customers.
- The company is subject to risks associated with expansion into new markets.
- Its may be liable to the company clients, vendors and aggregator platforms for any breach of terms or conditions of agreement entered into by it with them, which could harm its reputation and cause the company to lose clients.
- The company has entered into a number of related party transactions and may continue to enter into such transactions under AS 18, in the future, and there can be no assurance that the company could not have achieved more favourable terms had such transactions not been entered into with related parties.
- Its insurance coverage may not adequately protect the company against certain operating hazards and this may have a material adverse effect on its business.
- Changing regulations in India could lead to new compliance requirements that are uncertain. The regulatory environment in which the company operates is evolving and is subject to change.
- The company requires certain approvals and licenses in the ordinary course of business, some of the approvals are required to be transferred in the name of identixweb Limited', the company is yet to update the some of the said registrations and the failures to successfully update such registrations would adversely affect the company operations, results of operations and financial condition.
- Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
- The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
- In addition to normal remuneration, other benefits and reimbursement of expenses to its Promoters, Directors, key Managerial Personnel and; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves as well as between the Company and its Entities in which the company Directors/ Promoters/KMPs are interested. The Company in future may enter in related party transactions subject to necessary compliances.
- The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price.
- Its success depends heavily upon the company Promoters, Directors, Key Managerial Personnel and Senior Managerial Personnel for their continuing services, strategic guidance and financial support. Its success depends heavily upon the continuing services of Promoters, Directors, Key Managerial Personnel and Key Managerial Personnel who are the natural person in control of the Company.
- Its Promoters and Promoter group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The company faces competition from both domestic as well as international markets and its inability to compete effectively may have a material adverse impact on its business and results of operations.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Industry information included in this Red Herring Prospectus has been derived from industry sources There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the company Equity Shares.
- Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- The company inability to effectively implement its business and growth strategy may have an adverse effect on the company operation and growth.
The Issue type of Identixweb Ltd is Book Building - SME.
The minimum application for shares of Identixweb Ltd is 2000.
The total shares issue of Identixweb Ltd is 3080000.
Initial public issue of 30,80,000 equity shares of face value of Rs. 10/- each of Identixweb Limited ("Identixweb" or the "Company" or the "Issuer") for cash at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share (the "Issue Price") aggregating to Rs. 16.63 crores ("the Issue"), of which 1,54,000 equity shares of face value of
Rs. 10/- each for cash at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share aggregating to Rs. 0.83 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 29,26,000 equity shares of face value of Rs. 10/- each at a price of Rs. 54/- per equity share including a share premium of Rs. 44/- per equity share aggregating to Rs. 15.80 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 29.50 % and 28.02 %, respectively, of the post issue paid up equity share capital of the company. The face value of the equity shares is Rs. 10/- each.
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