logo
Indiqube Spaces IPO opens on July 23; GMP hints at 13% premium

Indiqube Spaces IPO opens on July 23; GMP hints at 13% premium

Time of India6 days ago
Workspace solutions provider
Indiqube Spaces is set to open its initial public offering (IPO) for subscription on Wednesday, July 23. Ahead of the launch, the company's shares are trading at a
grey market premium
(GMP) of Rs 31–32, indicating a potential listing gain of around 13% over the upper price band of Rs 237.
While the GMP reflects investor interest, market watchers caution that it remains speculative and can fluctuate significantly before listing.
Explore courses from Top Institutes in
Select a Course Category
CXO
Data Science
Data Analytics
Management
Others
MBA
Project Management
Design Thinking
Public Policy
Product Management
MCA
Technology
Digital Marketing
Finance
healthcare
Operations Management
Healthcare
Data Science
Artificial Intelligence
Leadership
Degree
Skills you'll gain:
Digital Strategy Development Expertise
Emerging Technologies & Digital Trends
Data-driven Decision Making
Leadership in the Digital Age
Digital Strategy Development Expertise
Emerging Technologies & Digital Trends
Data-driven Decision Making
Leadership in the Digital Age
Duration:
40 Weeks
Indian School of Business
ISB Chief Digital Officer
Starts on
Jun 30, 2024
Get Details
Skills you'll gain:
Customer-Centricity & Brand Strategy
Product Marketing, Distribution, & Analytics
Digital Strategies & Innovation Skills
Leadership Insights & AI Integration Expertise
Duration:
10 Months
IIM Kozhikode
IIMK Chief Marketing and Growth Officer
Starts on
Apr 7, 2024
Get Details
Skills you'll gain:
Digital Strategy Development Expertise
Emerging Technologies & Digital Trends
Data-driven Decision Making
Leadership in the Digital Age
Duration:
40 Weeks
Indian School of Business
ISB Chief Digital Officer
Starts on
Jun 30, 2024
Get Details
Skills you'll gain:
Technology Strategy & Innovation
Emerging Technologies & Digital Transformation
Leadership in Technology Management
Cybersecurity & Risk Management
Duration:
24 Weeks
Indian School of Business
ISB Chief Technology Officer
Starts on
Jun 28, 2024
Get Details
IPO Details
The IPO will open for subscription on July 23 and close on July 25. The price band is fixed at Rs 225–237 per share, with investors able to apply in lots of 63 shares.
The Rs 700 crore issue comprises a fresh issue of Rs 650 crore and an offer for sale (OFS) worth Rs 50 crore.
Live Events
Indiqube Spaces has reserved 88,41,773 shares (29.94%) for Qualified Institutional Buyers (QIBs), 44,20,885 shares (14.97%) for Non-Institutional Investors (NIIs), and 29,47,257 shares (9.98%) for retail investors. An additional 63,291 shares have been allocated for employees.
ICICI Securities
is the lead manager for the IPO, while MUFG Intime India (formerly Link Intime) is the issue registrar.
Use of Proceeds
The company plans to use Rs 462.65 crore from the IPO proceeds to set up new centres. About Rs 93 crore will go toward partial or full repayment of borrowings, while the remaining amount will be used for general corporate purposes.
About the Company
Founded in 2015,
Indiqube Spaces
(formerly Innovent Spaces Pvt. Ltd.) provides modern, sustainable workspace solutions. It began operations in Uttar Pradesh before relocating its base to Bengaluru in 2018.
For FY25, the company reported revenue of Rs 1,102.93 crore, up 27% from Rs 867.66 crore in FY24. Net loss narrowed sharply to Rs 139.62 crore in FY25, compared to Rs 341.51 crore in the previous fiscal year.
(
Disclaimer
: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
ETMarkets WhatsApp channel
)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

RInfra, Rpower say Enforcement Directorate concludes searches
RInfra, Rpower say Enforcement Directorate concludes searches

The Print

time39 minutes ago

  • The Print

RInfra, Rpower say Enforcement Directorate concludes searches

The company continues to operate in the normal course and the said action has no impact on its business operations, said two separate statements issued by both RInfra as well as RPower. 'The action by ED has concluded at all locations. The company and all its officials have fully cooperated and will continue to cooperate with the authority,' RPower said in its latest stock exchange filing. New Delhi, Jul 27 (PTI) Reliance Group firms Reliance Infrastructure (RInfra) and Reliance Power (RPower) on Sunday said the Enforcement Directorate (ED) has concluded searches at their premises and the companies will continue to cooperate with the federal probe agency. On Saturday, the ED carried out searches against the companies of Reliance Group chairman Anil Ambani in Mumbai for the third day and recovered a number of documents and computer peripherals from multiple locations, according to official sources. The raids were launched on July 24 by the federal probe agency as part of an alleged Rs 3,000-crore bank loan fraud-linked money laundering case apart from multiple other allegations of financial irregularities with crores of rupees by certain companies. 'The action by the ED has had no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders,' the two companies said in their stock exchange filings. Anil D. Ambani is not on the boards of RInfra and RPower. Accordingly, any action taken against RCOM or RHFL has no bearing or impact on the governance, management, or operations of RInfra and RPower, the two companies said. According to ED sources, the investigation primarily pertains to allegations of illegal loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017 and 2019. The Union government had informed the Parliament recently that the State Bank of India has classified RCOM along with Ambani as 'fraud' and was also in the process of lodging a complaint with the CBI. A bank loan 'fraud' of more than Rs 1,050 crore between RCOM and Canara Bank is also under the scanner of the ED apart from some 'undisclosed' foreign bank accounts and assets, the ED sources said. Reliance Mutual fund is also stated to have invested Rs 2,850 crore in AT-1 bonds and a 'quid pro quo' is suspected here by the agency. Additional Tier 1 (AT-1) are perpetual bonds issued by banks to increase their capital base and they are riskier than traditional bonds having higher interest rates. An alleged loan fund diversion of about Rs 10,000 crore involving Reliance Infrastructure too is under the scanner of the agency. PTI ABI HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Sotefin Bharat plans Rs 80 crore IPO to build parking robot unit for automated parking in Bengal
Sotefin Bharat plans Rs 80 crore IPO to build parking robot unit for automated parking in Bengal

The Print

time39 minutes ago

  • The Print

Sotefin Bharat plans Rs 80 crore IPO to build parking robot unit for automated parking in Bengal

'We are in the process of launching an IPO, which will help us become Atmanirbhar in the production of robots used in automated parking systems. The robot manufacturing facility will require around Rs 40 crore, while the remaining Rs 40 crore will be largely used for debt reduction and enhancing working capital to undertake larger projects,' Sotefin Bharat Managing Director & CEO Arup Choudhuri told PTI. The entire issue will be a fresh equity offer, with no stake dilution by the promoters or existing PE funds, a top company official said. Kolkata, Jul 27 (PTI) Swiss automated parking solutions major Sotefin SA's Indian subsidiary, Sotefin Bharat, on Sunday said it will hit the capital market to raise Rs 80 crore to support indigenous manufacturing of robots for automated parking systems in West Bengal. The company has announced a new manufacturing facility at Bagnan in West Bengal's Howrah district, entailing an investment of approximately Rs 40 crore. Once fully operational with in-house robotic manufacturing capabilities, the state-of-the-art plant is expected to create over 100 jobs and significantly boost Sotefin Bharat's production capacity, Choudhuri said. The facility is projected to support the creation of over 10,000 automated car parks or 25 automated parking projects per year, he added. The equity structure of the company is evenly held by two Indian promoters—Arup Choudhuri and Jignesh Sanghvi—Swiss partner Sotefin SA, and a clutch of PE funds, each holding 25 per cent. Post IPO, the fresh issue will dilute all existing promoter holdings by 6.25 per cent, taking public shareholding to nearly 25-26 per cent, Choudhuri said. The listing will also help unlock value, and the company is currently working with merchant bankers to prepare the Draft Red Herring Prospectus (DRHP), which is expected to be filed with the regulator within a month. The company has also started exporting its systems to the US and Dubai, officials said. 'Our order book currently stands at Rs 1,000 crore, which should support a 50–60 per cent growth over the next 3–4 years,' said Executive Director Jignesh Sanghvi. PTI BSM RG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

DoT issues ₹7,800 cr demand notice to Tata Communications over AGR dues
DoT issues ₹7,800 cr demand notice to Tata Communications over AGR dues

Business Standard

time40 minutes ago

  • Business Standard

DoT issues ₹7,800 cr demand notice to Tata Communications over AGR dues

The Department of Telecom has issued a "show-cause-cum-demand notice" of about Rs 7,800 crore to Tata Communications over adjusted gross revenue dues, according to an official note by the company. The demand has been raised by the Department of Telecom (DoT) for adjusted gross revenue (AGR) from 2005-06 till 2023-24, as per the note dated July 17. "As at June 30, 2025, the company has received 'Show Cause-cum Demand Notices' ('demand notices') from Department of Telecommunications of India aggregating to Rs 7,827.55 crore for financial years ranging from FY 2005-06 to FY 2023-24, which have been revised over a period of time," Tata Communications Managing Director AS Lakshminarayan said. He said the demand notices include Rs 276.68 crore towards disallowance of deductions claimed by the company on payment basis for the financial year (FY) 2010-11 under ISP (internet service provider) licence and FY07 and FY10 under NLD (national long distance) licence. Tata Communications has existing appeals relating to its ILD (International Long Distance), NLD, and ISP licences that were filed in the past and are pending at the Supreme Court and telecom tribunal TDSAT. Lakshminarayan said the company's appeals are not covered by the apex court judgement dated October 24, 2019, on AGR under the old telecom licence regime called UASL. "Further, the company believes that all its licences are different from UASL, which was the subject matter of Hon'ble Supreme Court judgement of October 24, 2019. The company, based on its assessment and independent legal opinions, believes that it will be able to defend its position," Lakshminarayan said. As per initial calculation by the government, telecom operators had liability to pay around Rs 1.65 lakh crore in total AGR dues till FY19. The calculation as of March 2022 showed that the AGR liability on Bharti Airtel was Rs 31,280 crore, Vodafone Idea Rs 59,236.63 crore, Reliance Jio Rs 631 crore, BSNL Rs 16,224 crore, MTNL Rs 5,009.1 crore up to financial year 2018-19. The government calculation at that time did not include liability on Tata Communications. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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