Icodex Publishing Solutions Ltd Issues Revised Statement on IPO Fund Utilization Details
Icodex Publishing Solutions Limited has released a revised statement detailing the utilization of proceeds raised during its Initial Public Offer (IPO) for the half-year ended March 31, 2026. The revision was issued to correct a typo error present in the previously submitted document regarding the amounts utilized from the IPO funds.The company's public issue was successfully conducted on August 14, 2025, raising an amount totaling INR 42,03,21,600/-. This statement provides specific insights into how these raised funds were allocated across various planned objectives during the reporting period.
A key focus of the revised report is a variation concerning the expenditure related to the purchase of new office premises. The company reports that a portion of the IPO proceeds earmarked for this objective was utilized for interior works at the acquired office premises. This usage, totaling 1.34 Crores, while not strictly in line with the original Offer Document objects, has been explained by management as being incidental and integrally connected to making the office premises operational and fit for intended use, specifically referencing the Agreement of Sale executed on January 24, 2025.
Management noted that the expenditure was covered under the Agreement of Sale, which had been submitted in detail prior. The company indicated that it is currently proceeding to obtain Shareholders approval for ratification regarding this variation following review by the Monitoring Agency.
Funds Allocation and Deviation Details
The company provided a detailed breakdown of the objectives for which funds were raised, along with the allocation amounts and realized usage figures.| Original Object | Original Allocation (Rs. In Crores) | Funds Utilised (Rs. In Crores) | Amount of Deviation/Variation (Rs. In Crores) |
|---|---|---|---|
| Purchase of new office premises | 16.69 | 8.74 | 1.34 |
| Purchase of hardware for new office | 1.12 | NA | NA |
| Working capital requirement | 5.20 | 5.20 | NA |
| General Corporate purposes | 6.40 | 6.40 | NA |
| Issue related expense | 5.23 | 5.23 | NA |
The management clarified that the expenditure involving the purchase of new office premises represented a variation, noting that this expenditure was necessary for the operational readiness of the property and formed part of the overall acquisition cost as stipulated in the Agreement of Sale dated January 24, 2025.
Stock Price Movement
Icodex Publishing Solutions Ltd shares concluded trading on Thursday at ₹40.00, registering a drop of 3.57% for the day. The stock experienced significant intraday volatility, moving between a low of ₹40.00 and a high of ₹41.55.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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