New Delhi, Apr 3 (KNN) Shares of web solutions company Identixweb made their market debut on the BSE SME platform Thursday, April 3, 2025, listing at Rs 55 per share, representing a gain of 1.8 percent over the issue price of Rs 54.

The listing performance fell short of grey market expectations, where the company’s shares had been trading at a premium of Rs 4 or 7.1 percent, reaching Rs 58 per share in unofficial markets prior to the official debut, according to sources tracking pre-listing activity.

Despite the modest listing, Identixweb’s initial public offering had garnered strong investor interest with an overall subscription of 26.15 times.

Non-institutional investors showed the strongest demand, oversubscribing their allocated portion by 73.46 times, while retail investors and qualified institutional buyers oversubscribed their quotas by 14.38 times and 11.19 times respectively.

The SME IPO, structured as a book-built issue worth Rs 16.63 crore, consisted entirely of a fresh issue of 3.08 million equity shares.

Investors could subscribe to the issue between Wednesday, March 26, 2025, and Friday, March 28, 2025, at a price band of Rs 51-54 per share, with a minimum lot size of 2,000 shares. Share allotments were finalised on Tuesday, April 1, 2025.

Founded in 2017, Identixweb provides Software as a Service (SaaS)-based digital product solutions, offering services such as e-commerce store development, web application development, UI/UX design, and website development.

The company specialises in Shopify application development, focusing on applications that enhance the functionality and performance of Shopify e-commerce stores.

The company has demonstrated strong financial performance, with revenue from operations growing 6.3 percent year-on-year to Rs 6.66 crore in FY24 from Rs 6.26 crore in FY23.

More impressively, Identixweb reported profit after tax of Rs 2.76 crore in FY24, representing a substantial 105 percent increase from Rs 1.34 crore in the previous fiscal year.

(KNN Bureau)