Comparison between Icodex Publishing Solutions IPO and MARC Technocrats IPO.
Icodex Publishing Solutions IPO is a SME Bookbuilding IPO proposed to list at BSE SME while MARC Technocrats IPO is a SME Bookbuilding proposed to list at NSE SME.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Indcap Advisors Pvt.Ltd. | Narnolia Financial Services Ltd. |
| Registrar | Cameo Corporate Services Ltd. | Maashitla Securities Pvt.Ltd. |
| Market Maker | Giriraj Stock Broking Pvt.Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | ||
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Icodex Publishing Solutions IPO is up to ₹39.93 Cr whereas the issue size of the MARC Technocrats IPO is up to ₹40.37 Cr. The final issue price of Icodex Publishing Solutions IPO is ₹102.00 per share and of MARC Technocrats IPO is ₹93.00 per share.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹98.00 per share | ₹88.00 per share |
| Issue Price (Upper) | ₹102.00 per share | ₹93.00 per share |
| Issue Price (Final) | ₹102.00 per share | ₹93.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1200 shares |
| Fresh Issue Size | 31,89,600 shares | 34,30,800 shares |
| Fresh Issue Size (Amount) | up to ₹32.53 Cr | up to ₹31.91 Cr |
| OFS Issue Size | 7,24,800 shares | 9,09,600 shares |
| OFS Issue Size (Amount) | up to ₹7.39 Cr | up to ₹8.46 Cr |
| Issue Size Total | 39,14,400 shares | 43,40,400 shares |
| Issue Size Total (Amount) | up to ₹39.93 Cr | up to ₹40.37 Cr |
Icodex Publishing Solutions IPO opens on Aug 11, 2025, while MARC Technocrats IPO opens on Dec 17, 2025. The closing date of Icodex Publishing Solutions IPO and MARC Technocrats IPO is Aug 13, 2025, and Dec 19, 2025, respectively.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | |
|---|---|---|
| Anchor Bid Date | ||
| Issue Open | Aug 11, 2025 | Dec 17, 2025 |
| Issue Close | Aug 13, 2025 | Dec 19, 2025 |
| Basis Of Allotment (Tentative) | Aug 14, 2025 | Dec 22, 2025 |
| Initiation of Refunds (Tentative) | Aug 18, 2025 | Dec 23, 2025 |
| Credit of Share (Tentative) | Aug 18, 2025 | Dec 23, 2025 |
| Listing date (Tentative) | Aug 19, 2025 | Dec 24, 2025 |
| Anchor Lockin End date 1 | ||
| Anchor Lockin End date 2 |
Icodex Publishing Solutions IPO P/E ratio is 13.94, as compared to MARC Technocrats IPO P/E ratio of 16.97.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)Icodex Publishing Solutions Ltd.'s revenue increased by 101% and profit after tax (PAT) rose by 104% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)MARC Technocrats Ltd.'s revenue increased by 80% and profit after tax (PAT) rose by 117% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 88.24 | 99.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 64.46 | 73.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 13.94 | 16.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹159.50 Cr. | ₹161.01 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 47.51% | 31.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 110.07% | 35.63% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.16 | 0.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹7.32 | ₹5.48 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 47.02% | 31.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Icodex Publishing Solutions IPO Retail Individual Investors (RII) are offered 19,03,200 shares while in MARC Technocrats IPO retail investors are offered 19,03,200 shares. Qualified Institutional Buyers (QIB) are offered 1,08,000 shares in Icodex Publishing Solutions IPO and 46,800 shares in MARC Technocrats IPO.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | |
| Market Maker Reservation | 2,06,400 shares | 2,38,800 shares |
| QIB | 1,08,000 shares | 46,800 shares |
| NII | 19,03,200 shares | 21,45,600 shares |
| RII | 19,03,200 shares | 21,48,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 39,14,400 shares | 43,40,400 shares |
Icodex Publishing Solutions IPO subscribed 3.95x in total, whereas MARC Technocrats IPO subscribed 9.87x.
| Icodex Publishing Solutions IPO | MARC Technocrats IPO | |
|---|---|---|
| QIB (times) | 33.08x | 9.51x |
| NII (times) | 1.58x | 8.99x |
| Big NII (times) | 1.84x | 10.18x |
| Small NII (times) | 1.68x | 6.61x |
| RII (times) | 4.67x | 10.75x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 3.95x | 9.87x |
