Icodex Publishing Solutions Fights Back Against Speculation Amid Stock Slide

Icodex Publishing Solutions Ltd has faced a steep 34% drop in its stock price since its listing on the BSE SME platform. The company asserts its commitment to ethical practices and refutes unfounded market rumors regarding its corporate governance.

Icodex Publishing Solutions Ltd, which recently debuted on the BSE SME platform, reported on Monday that it remains resolute in its commitment to ethical conduct, regulatory compliance, and transparent communication. This declaration comes amid concerns raised by a third consecutive session of stock decline.

Following the company's weak market debut at Rs 81.60 per share—down from an IPO price of Rs 102—speculative reports have circulated regarding its corporate governance. Icodex addressed these rumors, labeling them as incorrect and unsubstantiated. The shares, which settled the first day at Rs 77.55, have since continued to drop, closing at Rs 67 per share on Monday.

The Pune-based company stated its dedication to maintaining high standards of corporate governance and meeting its responsibilities to shareholders, emphasizing that any claims lacking verified data are without merit.

(With inputs from agencies.)