Comparison between Icodex Publishing Solutions IPO and Western Overseas Study Abroad IPO.
Icodex Publishing Solutions IPO is a SME Fixed Price IPO proposed to list at BSE SME while Western Overseas Study Abroad IPO is a SME Fixed Price proposed to list at BSE SME.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | BSE SME | BSE SME |
| Lead Managers | Indcap Advisors Pvt.Ltd. | Sobhagya Capital Options Pvt.Ltd. |
| Registrar | Cameo Corporate Services Ltd. | Skyline Financial Services Pvt.Ltd. |
| Market Maker | Giriraj Stock Broking Pvt.Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| 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 Western Overseas Study Abroad IPO is up to ₹9.56 Cr. The final issue price of Icodex Publishing Solutions IPO is ₹102.00 per share and of Western Overseas Study Abroad IPO is ₹56.00 per share.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹98.00 per share | |
| Issue Price (Upper) | ₹102.00 per share | |
| Issue Price (Final) | ₹102.00 per share | ₹56.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 2000 shares |
| Fresh Issue Size | 31,89,600 shares | 17,08,000 shares |
| Fresh Issue Size (Amount) | up to ₹32.53 Cr | up to ₹9.56 Cr |
| OFS Issue Size | 7,24,800 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹7.39 Cr | up to ₹0.00 Cr |
| Issue Size Total | 39,14,400 shares | 17,08,000 shares |
| Issue Size Total (Amount) | up to ₹39.93 Cr | up to ₹9.56 Cr |
Icodex Publishing Solutions IPO opens on Aug 11, 2025, while Western Overseas Study Abroad IPO opens on Dec 04, 2025. The closing date of Icodex Publishing Solutions IPO and Western Overseas Study Abroad IPO is Aug 13, 2025, and Dec 08, 2025, respectively.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad IPO | |
|---|---|---|
| Anchor Bid Date | ||
| Issue Open | Aug 11, 2025 | Dec 04, 2025 |
| Issue Close | Aug 13, 2025 | Dec 08, 2025 |
| Basis Of Allotment (Tentative) | Aug 14, 2025 | Dec 09, 2025 |
| Initiation of Refunds (Tentative) | Aug 18, 2025 | Dec 10, 2025 |
| Credit of Share (Tentative) | Aug 18, 2025 | Dec 10, 2025 |
| Listing date (Tentative) | Aug 19, 2025 | Dec 11, 2025 |
| Anchor Lockin End date 1 | ||
| Anchor Lockin End date 2 |
Icodex Publishing Solutions IPO P/E ratio is 13.94, as compared to Western Overseas Study Abroad IPO P/E ratio of 10.67.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad 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)Western Overseas Study Abroad Ltd.'s revenue increased by 13% and profit after tax (PAT) rose by 86% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 88.24 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 64.46 | 70.09 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 13.94 | 10.67 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹159.50 Cr. | ₹33.67 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 47.51% | 40.18% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 110.07% | 37.63% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.16 | 0.63 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹7.32 | ₹5.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 47.02% | 33.86% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Icodex Publishing Solutions IPO Retail Individual Investors (RII) are offered 19,03,200 shares while in Western Overseas Study Abroad 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 0 shares in Western Overseas Study Abroad IPO.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | |
| Market Maker Reservation | 2,06,400 shares | 90,000 shares |
| QIB | 1,08,000 shares | 0 shares |
| NII | 19,03,200 shares | 8,54,000 shares |
| RII | 19,03,200 shares | 8,54,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 39,14,400 shares | 17,08,000 shares |
Icodex Publishing Solutions IPO subscribed 3.95x in total, whereas Western Overseas Study Abroad IPO subscribed 1.41x.
| Icodex Publishing Solutions IPO | Western Overseas Study Abroad IPO | |
|---|---|---|
| QIB (times) | 33.08x | |
| NII (times) | 1.58x | 0.39x |
| Big NII (times) | 1.84x | |
| Small NII (times) | 1.68x | |
| RII (times) | 4.67x | 2.43x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 3.95x | 1.41x |
