It is with great excitement that we expand our footprint in the e-commerce technology space in India through the IPO of Identixweb Limited. As Shopify continues to revolutionize global e-commerce, Identixweb is positioned at the forefront of this transformation, creating a unique investment opportunity at the intersection of technology and digital retail.
We are gearing up for our entry into the public market, and here’s a comprehensive overview of everything Shopify merchants, developers, investors and stakeholders need to know about our offering and the Identixweb growth story. Here’s everything you need to know about our offering and the growth story behind Identixweb.
About Identixweb Limited’s Journey
At Identixweb Limited, we manifested our growth and evolution in the plethora of Shopify ecosystem. We are an established name in creating personalized solutions for the design and development of Shopify apps, tailoring them for better merchant experience while they are running their Shopify stores built on the platform of new advanced technology.
As our vast majority of revenue comes from serving the merchant ecosystem from Shopify, which makes us the beating heart of creating one of the fastest-growing and evolving Shopify app development platforms. We make sure to provide highly scalable solutions for all kinds of industries that help businesses streamline operations and optimize sales for their Shopify stores.
Getting to Know the Shopify Ecosystem: Our Growth Engine
The e-commerce industry, and the Shopify ecosystem specifically, has become one of the biggest growth driver of the global digital economy. The IT & BPM sector is contributing around 6.8% in fiscal 2023 to India’s GDP with specialized e-commerce technology services witnessing the strongest growth.
The Shopify ecosystem is flourishing and Identixweb is at the centre of it due to our exclusive business model which caters to Shopify merchants. We generate our revenue primarily from our only major customer, Shopify Inc., which operates a platform for over two million merchants around the world. Our focus also enables us to seize a growing demand from enterprises looking for niche solutions to improve their Shopify stores.
Identixweb IPO Details: What You Need to Know
Understanding the Offering and Price
The IPO is being made through what’s called a “Book Building Process” – a method where investors bid within a price range, helping determine the final offer price. Here are the key details in simple terms:
- Price Range: ₹51 to ₹54 per share (each share has a face value of ₹10)
- Floor Price: 5.10 times the face value (the minimum price)
- Cap Price: 5.40 times the face value (the maximum price)
- P/E Ratio: This measures the company’s share price relative to its earnings. At our offering, this ratio is between 13.21-13.99 times, which tells you how many years of current earnings you’re paying for when buying the share.
- Minimum Investment: 2000 shares (and in multiples of 2000 thereafter)
Key Dates to Remember
- Anchor Investor Bidding: Tuesday, March 25, 2025
- Public Offering Opens: Wednesday, March 26, 2025
- Public Offering Closes: Friday, March 28, 2025
The offering is structured to accommodate different types of investors:
- Qualified Institutional Buyers: Up to 50% of the offering
- Non-Institutional Investors: At least 15% of the offering
- Retail Individual Investors: At least 35% of the offering
- Market Makers: 1,54,000 shares (about 5% of the offering) to ensure liquidity
Financial Highlights: Growth You Can See
Identixweb has shown strong financial performance, reflecting our efficiency and market acceptance. Here’s a simplified look at our recent results:
Return on Investment (Return on Net Worth)
| Financial Year | Return on Net Worth | Weight |
|---|---|---|
| 2024 | 27.30% | 3 |
| 2023 | 29.32% | 2 |
| 2022 | 68.78% | 1 |
| Transaction Fees | Standard fees | Lower transaction fees with Shopify Payments |
Our weighted average return stands at an impressive 38.26%, showing how effectively we’ve used our resources to generate value for our shareholders.
The company has maintained healthy profit margins while strategically growing our service offerings, resulting in solid financial fundamentals that support our future growth plans.
Income and Profit Growth
With prudent management of resources and disciplined expansion of our service offerings, the company has demonstrated significant growth in revenue and profitability. This has led to better margins and increased shareholder value over the long run.
Why Invest in Identixweb IPO? The Shopify Merchant Advantage
Shopify Growth Trajectory: We are directly parallel to Shopify’s explosive growth and its expansion in global markets as businesses increasingly transition online. Under the platform, we have a large customer base allowing us to customise our apps based on their feedback.
Niche Expertise: Unlike other IT service providers who have to spread their resources across many platforms, we are only engaged with Shopify applications and have deep expertise and a competitive advantage in this high-growth sector.
Robust Financial Growth: Our steady financial growth proves the growing demand and efficient operation for specialized Shopify development.
Shopify Partnership: Our partnership with the elements of the Shopify ecosystem leaves us well-positioned to ride the success wave of Shopify as it continues its development and expansion.
Well Defined Growth Strategy: We have a clear blueprint in place outlining how we will develop new Shopify apps and expand our offering into the global Shopify merchant market.
Our Future Proceedings: Expanding Our Shopify Solutions
The new addition to the Shopify ecosystem, the net proceeds we raise from the IPO will be deployed strategically to accelerate our momentum in the Shopify ecosystem:
- Building innovative new applications for Shopify merchants that meet new e-commerce needs.
- Bringing in additional Shopify-focused resources onto our dedicated Shopify development team.
- Expanding our marketing capabilities so that we can access more Shopify merchants around the world.
- Making investments in R&D in order to keep ahead of changes to the Shopify platform and requirements from merchants.
These advances are in line and consistent with our aim to be the leading solutions developer for all Shopify merchants around the world. They allow us to scale quickly while remaining true to our ability to deliver quality and innovation in the Shopify ecosystem.
Shopify-Focused Competitive Advantages
- While gearing up for our public offering, we’d like to play up a few core strengths that uniquely position us in the Shopify ecosystem:
- That’s why we have developed deep and expert-level skills in tailoring Shopify application development and building your needs into a solid solution for difficult e-commerce pain points.
- We also have solid relations with the Shopify platform, creating apps that work smoothly with their ecosystem and improve merchant options.
- Because we have a deep understanding of the needs of Shopify merchants, we’re able to create targeted solutions that drive measurable business results.
- Agile development methodology that works excellently within the fast-moving Shopify ecosystem allows for speedy delivery and iterative enhancement of applications.
- Servicing merchants with deep domain knowledge of changing e-commerce trends and Shopify capabilities, our team is a trusted advisor on tech excellence.
Leadership and Vision
The team at Identixweb consists of experienced and qualified professionals from the IT industry. Our promoters combine years of expertise that helped fuel our growth and shape our market expansion.
By doing so, they have successfully instilled a legacy of their vision of guiding the company with a focus on their clients and technology.
The Bottom Line: Be a Part of Our Shopify Success Story
Join us in our journey to becoming one of the pioneering companies in the rapidly growing Shopify ecosystem. We are thrilled they invite us to reach new heights and become publicly traded. Tangible globally and impactful locally, the IPO is much more than finance. It is a reaffirmation of our mission to deliver innovation that allows Shopify merchants across the globe to access everything they need to power their businesses.
The company has received in-principal approval from BSE Limited on the BSE SME platform for listing the shares, with BSE Limited being the designated stock exchange for the issue.
We’re solely set up to help Shopify merchants and our business model places us smack bang in the middle of one of the fastest growing global e-commerce platforms. The more merchants that adapt to online selling through Shopify, the more growth opportunities exist for us.
For other details of the IPO, please refer to the Red Herring Prospectus and make investment decisions as per your financial goals and risk appetite.
Frequently Asked Questions
1. When is the Identixweb IPO opening?
The IPO opens on Wednesday, March 26, 2025, and closes on Friday, March 28, 2025. The anchor investor bidding date is Tuesday, March 25, 2025.
2. Where will Identixweb shares be listed?
Identixweb shares will be listed on the SME platform of BSE Limited (“BSE SME”). BSE Limited will be the designated stock exchange for this issue.
3. What is the price band for Identixweb IPO?
The price band for the Identixweb Limited IPO is ₹51 to ₹54 per equity share of face value ₹10 each.
4. What is the financial performance of Identixweb?
Identixweb has demonstrated consistent financial growth. The company’s weighted average return on net worth stands at 38.26% (based on the financial data provided in the prospectus), showcasing its ability to generate substantial returns for shareholders.
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Ritika Tyagi