Indiqube IPO Lands July 23—Premium Buzz Paints a Profitable Picture!

Image Source: Finowings

Indiqube Spaces Ltd, a leading managed workplace solutions provider, is set to launch its ₹700 crore Initial Public Offering (IPO) on Wednesday, July 23, with subscriptions closing on Friday, July 25. The IPO includes a fresh issue of ₹650 crore and an Offer for Sale (OFS) of ₹50 crore by promoters Rishi Das and Meghna Agarwal.

The IPO price band is fixed at ₹225–₹237 per share, and investors can apply in lots of 63 shares. The company’s shares are currently trading at a Grey Market Premium (GMP) of ₹31–₹32, suggesting a potential 13% listing gain over the upper price band.

IPO Snapshot

Issue Size: ₹700 crore
Fresh Issue: ₹650 crore
OFS: ₹50 crore
Price Band: ₹225–₹237
GMP: ₹31–₹32
Lead Managers: ICICI Securities, JM Financial
Registrar: MUFG Intime India
Listing: BSE and NSE

Use of Proceeds

₹462.6 crore for new center development
₹93 crore for debt repayment
Remaining for general corporate purposes

Company Highlights

Founded in 2015, headquartered in Bengaluru
Operates 115 properties across 15 cities
FY25 revenue: ₹1,103 crore (up 27% YoY)
EBITDA: ₹660 crore, RoCE: 34.21%
Occupancy rate: 86.5%
Clients include Myntra, Zerodha, Siemens, NoBroker, upGrad

Indiqube’s proprietary tech platform MiQube has surpassed 1 million transactions, and over 36% of its portfolio is green-certified, reflecting its ESG commitment.

Sources: Economic Times, Fortune India, Biz Bracket, YourStory