Understanding Shariah Compliance in IPOs and Stocks:
Investing wisely is essential for both financial growth and ethical alignment. For those interested in making investments that comply with Islamic law, understanding the Shariah status of Initial Public Offerings (IPOs) and stocks is crucial. This article aims to provide insights into the Shariah compliance of Icodex Publishing Solutions Ltd, ensuring that your investment choices are not only profitable but also ethical.
Table of Contents
Analyzing The Company
Company Name: Icodex Publishing Solutions Ltd
Industry: E-Learning
Listing At: BSE SME
Overview:
The company was incorporated in 2018 with a focus on providing software products to the scholarly and academic publishing industry. Since its inception, the company has been engaged in the business of Software Product Development for Scholarly Publishing. Its software products assist in the publication of research papers, studies, and academic articles, helping researchers, academicians, and scholars in their respective fields. The company specializes in developing and providing publishing products and software that support the entire publishing process, from manuscript preparation to print and digital content distribution. It also provides Business Process Management services that support the publishing process with activities such as Quality Assurance checks, editorial services, and back-end support for its Global Publishing Client. Additionally, the company offers IT support services, which include the installation of various types of hardware, peripherals, and back-end support.
Vision:
Unlocking the potential of research content by providing accessible, innovative, and inclusive publishing technology solutions that foster collaboration and advancement within the research community.
Mission:
To deliver a state-of-the-art publishing platform and comprehensive solutions to the scientific publishing community, enabling them to streamline their workflows, save time, enhance publication quality, and increase their focus on publishing, while increasing their recognition and continued advancement.
Shariah Status
The IPO is Shariah Compliant, please see below image.
Additional Considerations:
When opting for Shariah-compliant investments, it is essential to regularly check the status in our App. This ensures that the evolving nature of businesses or other financial data does not compromise the compliance status of your investments.
IPO Timeline (Tentative Schedule)
| IPO Open Date | Mon, Aug 11, 2025 |
| IPO Close Date | Wed, Aug 13, 2025 |
| Tentative Allotment | Thu, Aug 14, 2025 |
| Initiation of Refunds | Mon, Aug 18, 2025 |
| Credit of Shares to Demat | Mon, Aug 18, 2025 |
| Tentative Listing Date | Tue, Aug 19, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 13, 2025 |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,44,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,44,800 |
| S-HNI (Min) | 3 | 3,600 | ₹3,67,200 |
| S-HNI (Max) | 8 | 9,600 | ₹9,79,200 |
| B-HNI (Min) | 9 | 10,800 | ₹11,01,600 |
Financials
Icodex Publishing Solutions Ltd. demonstrated strong financial performance for the fiscal year ending March 31, 2025. The company’s revenue and profit after tax (PAT) saw substantial increases, with revenue growing by 101% and PAT by 104% between the financial years ending March 31, 2024, and March 31, 2025. Total income rose from ₹10.99 crore to ₹22.08 crore, and PAT increased from ₹4.40 crore to ₹8.96 crore. Assets expanded from ₹10.67 crore to ₹24.75 crore, while net worth grew from ₹8.59 crore to ₹19.05 crore. Concurrently, total borrowing increased from ₹0.88 crore to ₹2.99 crore, and reserves and surplus decreased from ₹8.59 crore to ₹6.81 crore.
KPI
| KPI | Values |
|---|---|
| ROE | 47.51% |
| ROCE | 110.07% |
| Debt/Equity | 0.16 |
| RoNW | 47.02% |
| PAT Margin | 40.56% |
| EBITDA Margin | 61.39% |
| Price to Book Value | 14.25 |
LINKS
Ready to invest in Shariah-compliant opportunities? Explore more at IslamicStock & consider opening a demat account from the below link!
- Open Demat Account:
- Visit our Website: www.IslamicStock.in
- Read our Blog: blog.islamicstock.in
- Download our App:
SEBI Disclaimer
Investing in IPOs involves risks. Please read the offer document carefully before investing. This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making any investment decisions.