Icodex Publishing Solutions Ltd. IPO

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Founded in 2018, Icodex is a technology-driven company specializing in software products and services for the scholarly and academic publishing industry. It caters to publishers, authors, and peer reviewers globally, helping streamline the entire publication lifecycle—from manuscript submission to final dissemination.

Business Verticals

a) Software Product Development
Icodex develops proprietary cloud-based platforms and AI-powered tools for the publishing industry. Key products like iCAPP, PaperPerfect, eAssistant, and iProof streamline the entire publishing workflow—from manuscript writing to editing and layout. Tools like iLang and iRef enhance language and reference quality. The company also creates ERP systems and customized software tailored to specific industry needs.

b)  Business Process Management (BPM)
This segment supports global publishers with backend services such as quality checks (proofing, language, and layout), editorial assistance, invoice processing, and print/distribution management. AI-driven tools are used to ensure high accuracy and efficiency, helping clients manage content and operations seamlessly.

c) Application Support & IT Services
Icodex offers infrastructure and server management, along with IT system setup and maintenance. This ensures clients receive end-to-end technical support, enabling them to focus on core publishing activities without operational disruptions.

Publishing Workflow Automation

Icodex simplifies the scholarly publishing workflow by providing tools and services that support Manuscript preparation, Peer review coordination, Layout, editing, and design, Final publication & distribution (print/digital)

This enables faster, error-free, and more efficient publishing, especially for research papers and academic articles.

Competitive Strengths

i) Domain Expertise: Deep understanding of the publishing industry.
ii) Experienced Team: Core team with 15+ years of publishing tech experience.
iii) Strong Client Relationship: Long-standing engagement with a US-based global publishing client.
iv) End-to-End Publishing Solutions: Seamless integration of editorial, design, IT, and distribution services.
v) Technology-Driven: Focus on automation, cloud computing, AI/ML for fast, accurate, and scalable publishing processes.

Objects of the Icodex Publishing Solutions Ltd. IPO:

Company proposes to utilize the Net Proceeds from the Issue towards the following objects: 1. Capital Expenditure a) Purchase of new office premises (₹16.69 crore) b) Purchase of hardware for new office (₹1.11 crore) 2. Working Capital requirements (₹5.20 crore) 3. General Corporate Purposes
DRHP of Icodex Publishing Solutions Ltd. IPO

Icodex Publishing Solutions Ltd. IPO Details:

Open Date: Aug 11 2025
Close Date: Aug 13 2025
Total Shares: 41,20,800
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 42.03 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 98-102 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Kamalakkannan Govindaraj, 42, is the Promoter, Chairman & Managing Director of Icodex. A B.E. graduate in Electrical and Electronics from Bharathidasan University, he has 20+ years of experience in the publishing industry. Previously, he worked at DCS BPO and Crest Premedia (Springer Nature). At Icodex, he oversees strategy, finance, HR, marketing, and client relationships, with expertise in project management and publishing services. 2. Chetan Shankarlal Soni, 46, is the Promoter and Whole-Time Director of Icodex. He holds a B.E. in Electrical Engineering from the University of Pune and has over 20 years of experience in technology and publishing. He previously worked at Equator Infotech and Crest Premedia. At Icodex, he leads IT infrastructure, data security, product development, and technology strategy. 3. Anand Pande, 43, is a Non-Executive Director at Icodex. A Chartered Accountant and Registered Valuer with IBBI, he holds a B.Com from the University of Pune. He is also an Insolvency Professional with over 15 years of experience in accounting and financial advisory.

Financials of Icodex Publishing Solutions Ltd. IPO: 

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Icodex Publishing Solutions Ltd. IPO:

  1. Indcap Advisors Private Limited

Registrar of Icodex Publishing Solutions Ltd. IPO:

  1. Cameo Corporate Services Limited

Discussion on Icodex Publishing Solutions Ltd. IPO:

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