Indiqube Spaces slides on debut
The scrip was listed at Rs 218.70, exhibiting a discount of 7.72% to the issue price.
So far, the stock has hit a high of Rs 222.75 and a low of Rs 201.55. On the BSE, over 4.84 lakh shares of the company were traded in the counter so far.
The initial public offer of Indiqube Spaces was subscribed 12.47 times. The issue opened for bidding on 23 July 2025 and it closed on 25 July 2025. The price band of the IPO is fixed between Rs 225 and 237 per share.
The issue comprised both an issue of fresh equity aggregating to Rs 650 crore and an offer for sale aggregating to Rs 50 crore. Of the net proceeds from the fresh issue, Rs 462.649 crore will be used for funding capital expenditure towards the establishment of new centers; Rs 93.035 crore towards repayment/prepayment/redemption, in full or in part, of certain borrowings availed by the company; and the balance for general corporate purposes.
Total outstanding borrowings as of May 31, 2025, were Rs 332.079 crore on a consolidated basis.
IndiQube Spaces is a managed workspace solutions provider offering tech-driven, sustainable office spaces. As of March 31, 2025, the company operated 115 centers across 15 cities with a total portfolio of 8.40 million sq. ft. and a seating capacity of 1.86 lakh.
It has a strong presence in Bengaluru and Chennai, comprising over 79% of its total area under management. IndiQube primarily caters to enterprise clients, including Global Capability Centers, and maintains high occupancy and long lease tenures. The company earns revenue through workspace leasing and value-added services like F&B and IT support.
Ahead of the IPO, Indiqube Spaces on 22 July 2025 raised Rs 314.32 crore from anchor investors. The board allotted 1.36 crore shares at Rs 237 each to 29 anchor investors.
The firm reported a consolidated net loss of Rs 139.62 crore and sales of Rs 1,059.29 crore for the twelve months ended on 31 March 2025.
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