logo
Indiqube Spaces IPO to open on Wednesday: Here are 10 key things to know from the RHP

Indiqube Spaces IPO to open on Wednesday: Here are 10 key things to know from the RHP

Minta day ago
Indiqube Spaces IPO: The initial public offering (IPO) of Indiqube Spaces is set to open for subscription later this week. The company is already enjoying a strong grey market premium (GMP), signaling a strong buzz around the issue.
Indiqube Spaces IPO is scheduled to run from July 23 to July 25, with the tentative listing date fixed as Wednesday, July 30. The issue is priced in the range of ₹ 225 to ₹ 237 per share, with investors allowed to bid in lots of 63 shares.
Ahead of the issue opening, here are ten key things that investors should know from the company's red herring prospectus.
Indiqube Spaces IPO is a mix of fresh issue of ₹ 650 crore and an offer for sale of ₹ 50 crore. Therefore, the total issue size is ₹ 700 crore.
Rishi Das and Meghna Agarwal are the promoter selling shareholders in Indiqube Spaces IPO. Each promoter is looking to offload stake worth ₹ 25 crore.
The company plans to use the funds raised from the IPO to fund capex towards establishment of new centres, repayment of certain borrowings availed by the company and for general corporate purposes.
While the company's revenue has seen a steady growth to ₹ 1059 crore in FY25 from ₹ 831 crore in FY24 and ₹ 580 crore in FY23, it remains a loss-making entity. In FY25, the company posted a loss of ₹ 140 crore while the figure stood at ₹ 341.5 crore in FY24. In the preceding fiscal, the loss was at ₹ 198 crore.
Awfis Space Solutions is the only listed peer of Indiqube Spaces, according to the company's RHP. Unlike Indiqube, Awfis swung to profit in the recently concluded fiscal 2024-25 (FY25).
Indiqube Spaces offers workplace solutions, dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities and a host of value-added services.
India is one of the largest flexible workspaces markets in APAC with a total stock of over 72 Mn sq. ft. in Tier 1 cities as of H1 CY2024. Favorable demographics, availability of quality talent pool and relative competitive cost for talent may position India as a preferred destination for setting up bases for MNCs, and corporates for their Global Capability Centres (GCCs). These companies may also consider evaluating flexible workspaces to expand their operations in India which may also help in enabling them to outsource some elements of their value chain including but not limited to office experience and running cost-efficient operations. This may also support the existing demand for flexible workspace solutions.
Several risks of picking Indiqube Spaces IPO are: The business is sensitive to real estate market fluctuations and we have witnessed a decline in our occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024.
The company does not own the properties where its centers are located. Any defect in the title and ownership of such properties may result in centers being shut down, result in relocation costs and termination of client agreements, which may adversely impact business.
In the Indiqube Spaces IPO, 75% of the offer is reserved for QIBs, 15% is allocated for NIIs and the remaining 10% for retail investors.
ICICI Securities and JM Financial are the book running lead managers while MUFG G Intime India Private Limited is the registrar to the issue.
Indiqube Spaces IPO GMP today is ₹ 40. This means, in the grey market, the IPO shares are available at a ₹ 40 premium. At this GMP and the current issue price, Indiqube Spaces shares could list at ₹ 277, a premium of 17% over the upper end of the IPO price of ₹ 237.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue
IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue

Mint

time2 hours ago

  • Mint

IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue

IndiQube Spaces IPO: Workplace solutions provider IndiQube Spaces completed its anchor investor round on Tuesday, July 22, 2025. The company raised over ₹ 314 crore from anchor investors ahead of its initial public offering (IPO). IndiQube Spaces allocated a total of 1,32,62,658 equity shares or 1.32 crore equity shares to the anchor investors at an allocation price of ₹ 237 per share, the company informed BSE in an exchange filing. Of the total equity shares allocated to the anchor investors, 8,932,571 shares were assigned to 8 domestic mutual funds across 21 schemes. Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV & WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund & Malabar Midcap Fund are some of the key anchor investors who were allocated equity shares. Additionally, Max New York Life Insurance, Edelweiss MF, Baroda BNP Paribas, TOCU Europe III S.A R.L., Groww Mutual Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius Private Limited, and Societe Generale were also allotted equity shares. Notably, WestBridge Capital, along with group companies Aravali Investment Holdings, WestBridge AIF I, Konark Trust, and MMPL Trust, has a pre-offer shareholding of 27.95 per cent in the company and is not diluting any stake. On Tuesday, July 22, the grey market premium (GMP) of Indiqube Spaces IPO stood at ₹ 23 per share at 8:36 pm. With the upper price band at ₹ 237 per share, the shares of the company are expected to be listed at ₹ 260, with a premium of 9.7 per cent, according to data from Investorgain. Indiqube Spaces has set the price band for the public issue at ₹ 225 to ₹ 237 per equity share. The company aims to raise ₹ 700 crore from this public offer, of which ₹ 50 crore is reserved for offer for sale (OFS). The remaining ₹ 650 crore will be raised through the issuance of fresh shares. In fiscal 2025, IndiQube reported a total income of Rs1,103 crore and a CAGR of 35 per cent from fiscal 2023. The company's EBITDA stood at ₹ 660 crore with a return on capital employed (RoCE) of 34.21 per cent.

IndiQube raises Rs 314 cr from anchor investors ahead of Rs 700 cr IPO
IndiQube raises Rs 314 cr from anchor investors ahead of Rs 700 cr IPO

Time of India

time3 hours ago

  • Time of India

IndiQube raises Rs 314 cr from anchor investors ahead of Rs 700 cr IPO

BENGALURU: Managed workspace provider IndiQube Spaces has raised Rs 314.3 crore from anchor investors, with the company allotting shares at Rs 237 apiece, the upper end of its IPO price band, ahead of its public issue opening on July 23. Institutional investors participating in the anchor book included Aditya Birla Sun Life Mutual Fund, Invesco India ELSS Tax Saver Fund, WhiteOak Capital, Bandhan Mutual Fund, Motilal Oswal and Malabar Funds. Other investors allotted shares include Max Life Insurance, Edelweiss MF, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius, Societe Generale and Groww Mutual Fund. According to the company's stock exchange filing, 1.32 crore equity shares were allocated to anchor investors, of which nearly 67% went to eight domestic mutual funds across 21 schemes. The IPO, comprising a Rs 650 crore fresh issue and a Rs 50 crore offer for sale by promoters Rishi Das and Meghna Agarwal, will open for subscription between July 23 and July 25. The price band has been set at Rs 225-237 per share. Shares are expected to list on stock exchanges on July 30. Bengaluru-based venture capital firm WestBridge Capital, which holds a 27.95% pre-offer stake through its affiliated entities, is not selling any shares in the IPO. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Founded in 2015, Bengaluru-based IndiQube operates over 8.4 million square feet of managed workspace across 15 cities. The company reported Rs 1,103 crore in revenue in the financial year ended March 2025 (FY25), marking a 35% compounded annual growth rate since FY23. It cut losses by 58% to Rs 141 crore in the period. Occupancy at steady-state centres stood at 86.5%, according to its IPO prospectus. The proceeds from the fresh issue will be used to expand IndiQube's footprint by 3 million sft over the next three years. The company plans to add 1.79 million sft in Bengaluru, 0.74 million sft in Chennai and 0.36 million sft across Tier-II cities, taking its total managed area to 11.5 million sft by FY28. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

IndiQube Spaces raises Rs 314 crore from anchor investors ahead of IPO
IndiQube Spaces raises Rs 314 crore from anchor investors ahead of IPO

News18

time5 hours ago

  • News18

IndiQube Spaces raises Rs 314 crore from anchor investors ahead of IPO

Last Updated: New Delhi, Jul 22 (PTI) Workplace solutions company IndiQube Spaces on Tuesday said it has raised over Rs 314 crore from anchor investors, a day before its initial share-sale opens for public subscription. Among the anchor investors who have been allocated shares are — Aditya Birla Sun Life Mutual Fund (MF), WhiteOak MF, Bandhan MF, Motilal Oswal MF, Edelweiss MF, TOCU Europe III S.A R.L., BNP Paribas Financial Markets, Citigroup Global Markets Mauritius and Societe Generale, according to a circular uploaded on BSE's website. As per the circular, IndiQube Spaces allocated 13,262,658 shares to 29 funds. The shares have been allotted at Rs 237 apiece, aggregating the transaction size to Rs 314.32 crore. The Rs 700-crore IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The price band has been set at Rs 225 to Rs 237 per share. At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore. The company is raising Rs 650 crore through issuance of fresh issue and promoters would offload shares worth Rs 50 crore under the Offer for Sale (OFS). WestBridge Capital, a key investor in the firm since 2018, is not divesting any stake in the OFS. IndiQube Spaces proposes to utilise the fresh capital to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and rest for general corporate purposes. The company, which was incorporated in 2015, manages a portfolio of 8.40 million sq ft across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025. This was a growth from 74 centres and 4.94 million Sq ft in March 2023. IndiQube serves 769 clients, out of which 44 per cent clients are Global Capability Centres. The company follows an enterprise-first strategy owing to which 63 per cent of its occupied area comes from clients who have leased over 300 seats. Further, 44 per cent of its revenue is generated from multi centre clients. Its diverse client mix includes Enphase, Myntra, Zerodha, NoBroker, upGrad, Siemens, Juspay, Perfios, Moglix, Ninjacart, Narayana Health and Allegis to name a few. On the financial front, the company reported a total income of Rs 1,103 crore in fiscal 2025, recording a CAGR of 35 per cent from fiscal 2023. The company raised a total of Rs 324 crore in two funding rounds during 2018 and 2022. WestBridge Capital led the investment with Rs 190 crore, followed by Rs 131 crore from the promoters, and the rest came from angel investor Ashish Gupta. ICICI Securities and JM Financial are book-running lead managers to the equity shares are expected to be listed on July 30 on the BSE and NSE. PTI SP HVA view comments First Published: July 22, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store