IndiQube Spaces Secures ₹314 Crore from Anchor Investors Ahead of IPO, Signals Strong Institutional Backing

IndiQube Spaces Ltd has successfully raised ₹314.32 crore from anchor investors ahead of its ₹700 crore IPO, scheduled to open on July 23, 2025. The anchor book allocation was priced at ₹237 per share, the upper end of the IPO price band, indicating robust demand from top-tier institutions.

 

Key Highlights:

 

Anchor investors were allotted 1.32 crore equity shares at ₹237 apiece.

 

Notable participants include Aditya Birla Sun Life, Axis Max Life, Invesco India, SBI Life, ICICI Prudential, Nippon India Mutual Fund, and HDFC Life.

 

The anchor portion represents 44.9 percent of the Qualified Institutional Buyer (QIB) allocation.

 

IPO Structure and Use of Proceeds:

 

The IPO comprises ₹650 crore as a fresh issue and ₹50 crore as an offer-for-sale by promoters.

 

Proceeds will be used for setting up new workspace centers (₹462.6 crore), debt repayment (₹93 crore), and general corporate purposes.

 

Operational Context:

 

IndiQube manages 115 properties across 15 cities, with 8.4 million sq ft under management and 1.86 lakh seating capacity.

 

FY25 revenue stood at ₹1,103 crore, with EBITDA of ₹660 crore and RoCE of 34.21 percent.

 

The company follows an enterprise-first strategy, with 63 percent of occupied area leased by clients with over 300 seats.

 

Market Outlook:

 

Listing is expected on July 30 on BSE and NSE.

 

Analysts anticipate strong demand due to IndiQube’s hybrid workspace model and tech-enabled offerings.

 

Source: Economic Times, Moneycontrol, Republic World, Chittorgarh (July 2025)