Icodex Publishing reiterates commitment to corp governance, shares fall for 3rd day

Shares of the company were listed on the SME platform of the BSE on August 19.

Icodex Publishing Solutions Ltd on Monday said that it is fully committed to ethical conduct, regulatory compliance, and transparent communication, as the stock fell for the third consecutive session.

Rejecting market speculation concerning its corporate governance, the Pune-based company said that the information circulating in these reports is incorrect and unsubstantiated.

"The assertions made are not based on verified or factual data," the company, which made its market debut on Tuesday last week, said.

Shares of the company have tumbled around 34 per cent from the IPO price of Rs 102 per share on the BSE SME platform. The stock made a weak debut at Rs 81.60 per share on Tuesday and settled the first day at Rs 77.55, down 23 per cent from the issue price.

After a brief recovery on Wednesday, the stock has dropped continuously, closing at Rs 67 per share on Monday after hitting the lower circuit.

"Icodex Publishing Solutions Ltd is fully committed to ethical conduct, regulatory compliance, and transparent communication.

"The company takes its responsibilities to its shareholders seriously and upholds the highest standards of corporate governance," Icodex said in a statement.

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