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Entrepreneur
7 days ago
- Business
- Entrepreneur
IndiQube Raises Over INR 314 Cr from Anchor Investors Ahead of IPO
The IPO opens on July 23 and will close on July 25, 2025. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. IndiQube Spaces Limited has secured more than INR 314.32 crore from anchor investors ahead of its initial public offering, as revealed in an exchange filing. The equity shares were allotted at INR 237 per share. The anchor book attracted participation from several prominent investors. Aditya Birla Sun Life Mutual Fund, Ashoka WhiteOak ICAV along with WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large and Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund, and Malabar Midcap Fund were among those who received equity allocations. Other participants included Max New York Life Insurance, Edelweiss Mutual Fund, 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. WestBridge Capital, through its group entities Aravali Investment Holdings, WestBridge AIF I, Konark Trust, and MMPL Trust, continues to hold a pre-offer stake of 27.95 percent and is not diluting any part of its shareholding in this round. In terms of financial performance, IndiQube reported a total income of INR 1,103 crore in fiscal 2025, reflecting a compound annual growth rate of 35 percent from fiscal 2023. Its EBITDA for the year stood at INR 660 crore, with a return on capital employed of 34.21 percent and cash EBIT margins of 10.81 percent. Occupancy across steady state centers reached 86.50 percent. Under IGAAP standards, the company remained profit after tax positive and paid INR 7.7 crore and INR 8.4 crore in income tax during fiscal years 2024 and 2025 respectively. It has also maintained a CRISIL A Plus with Stable outlook for three consecutive cycles. Of the 13,262,658 equity shares allotted to anchor investors, 67.35 percent were allocated to eight domestic mutual funds across 21 schemes. The IPO opens on July 23 and will close on July 25, 2025.
Mint
7 days ago
- Business
- Mint
IndiQube Spaces IPO Day 1 Live: Check GMP, issue details, review, subscription status, more.
Workplace solutions provider IndiQube Spaces will begin its public subscription today, Wednesday, July 23, and it will end on Friday, July 25. IndiQube Spaces IPO price band has been set between ₹ 225 and ₹ 237 per share. At the highest end of this price range, the company's valuation approaches ₹ 5,000 crore. The firm aims to raise ₹ 650 crore through a fresh issue, while promoters will sell shares worth ₹ 50 crore through the Offer for Sale (OFS). WestBridge Capital, a prominent investor in the company since 2018, will not sell any of its stake in the OFS. IndiQube Spaces plans to allocate ₹ 462.6 crore of the new capital to fund capital expenditures for establishing new centers, ₹ 93 crore for debt repayment, and the remainder for general corporate uses. The company, which was founded in 2015, oversees a portfolio of 8.40 million square feet across 115 properties in 15 cities, with a total seating capacity of 186,719 as of March 2025. This represents an increase from 74 centers and 4.94 million square feet in March 2023. (Stay tuned for more updates) Follow updates here: 23 Jul 2025, 08:40 AM IST IndiQube Spaces IPO grey market premium is +23. This indicates IndiQube Spaces share price was trading at a premium of ₹ 23 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of IndiQube Spaces share price was indicated at ₹ 260 apiece, which is 9.70% higher than the IPO price of ₹ 237. Analyzing the grey market activities from the past seven sessions, the current IPO GMP is on an upward trend and is anticipated to have a solid listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP stands at ₹ 40, as stated by experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Reuters
21-07-2025
- Business
- Reuters
Indian furniture brand WoodenStreet aims to quadruple revenue in 3 years, mulls IPO, CEO says
July 21 (Reuters) - India's WoodenStreet aims to quadruple its revenue over the next three years by expanding its mattress and modular furniture businesses, and opening dozens of new stores, as it positions itself for a listing, its CEO told Reuters. India's $34 billion furniture sector has been rapidly growing in recent years, with demand for sofas, recliners, wardrobes and beds climbing, as younger consumers with more disposable incomes splurge online and upgrade more frequently. "The idea is (to touch 10 billion rupees ($115.90 million) in revenue) and profitability in the next three years... and going public," WoodenStreet founder and CEO Lokendra Ranawat said in an interview last week. WoodenStreet reported sales of 2.55 billion rupees and net loss of 109 million rupees in fiscal 2024, marking its first loss in at least half a decade, data from business insights provider Tofler showed. To hit its target, WoodenStreet is aggressively expanding into the mattress category with its new "Penguin Sleep" brand, Ranawat said, tapping into post-pandemic consumer focus on wellness, while also making a strong push in modular furniture. WestBridge Capital-backed WoodenStreet, which late last year raised $43 million from Premgi Invest to boost its workforce and manufacturing, sells furniture, from sofa to decor, online and also runs 104 stores across India. Ranawat said WoodenStreet plans to triple its store count within 18-24 months, focussing on major cities, while also considering opportunities in smaller ones. WoodenStreet's rival Wakefit filed for an initial public offering last month, while Duroflex, which also owns the "Sleepyhead" mattress brand, said in April it was looking to go public in the next 18 months. When asked if WoodenStreet would consider a deal akin to Reliance's purchase of its peer Urban Ladder, Ranawat said: "The target is to make it a sustainable and long-term independent brand." ($1 = 86.2800 Indian rupees)
Time of India
18-07-2025
- Business
- Time of India
IndiQube Spaces' ₹700-crore IPO to open on July 23
NEW DELHI: Workplace solutions company IndiQube Spaces on Friday fixed a price band of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO). The IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The bidding for anchor investors will open for a day on July 22, the company announced. 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 issue 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 sqft 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 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 FY25, recording a CAGR of 35 per cent from FY23. 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. The company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. ICICI Securities and JM Financial are book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and the NSE.
Economic Times
18-07-2025
- Business
- Economic Times
IndiQube Spaces' Rs 700-cr IPO to open on Jul 23; sets price band at Rs 225-237/share
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Workplace solutions company IndiQube Spaces on Friday fixed a price band of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO).The IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The bidding for anchor investors will open for a day on July 22, the company the upper end of the price band, the company's valuation is nearly Rs 5,000 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 issue 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 company, which was incorporated in 2015, manages a portfolio of 8.40 million sqft 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 serves 769 clients 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 the financial front, the company reported a total income of Rs 1,103 crore in FY25, recording a CAGR of 35 per cent from 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 company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail Securities and JM Financial are book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and the NSE. PTI
