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India Today
9 hours ago
- Business
- India Today
Indiqube Spaces IPO: Should you invest? Check GMP and review by experts
The initial public offering (IPO) of Indiqube Spaces is currently open for subscription and has attracted strong interest from retail investors. As of noon on the opening day, the issue was nearly half subscribed, with most bids coming from the retail Spaces is aiming to raise Rs 700 crore through this IPO. The issue includes a fresh issue of 2.74 crore shares worth Rs 650 crore and an offer for sale of 21 lakh shares valued at Rs 50 IPO is a bookbuilt issue with a price band of Rs 225 to Rs 237 per can bid in lots of 63 shares. For retail investors, the minimum investment comes to Rs 14,175. For small non-institutional investors (sNII), the minimum application is 14 lots or 882 shares (Rs 2,09,034), and for big non-institutional investors (bNII), it is 67 lots or 4,221 shares (Rs 10,00,377).ICICI Securities is the book-running lead manager, and MUFG Intime India Private Limited (Link Intime) is the registrar for the YOU SUBSCRIBE?Indiqube Spaces offers managed workplace solutions such as coworking spaces, interiors, tech services, and facility management. It uses a 'hub-and-spoke' model and caters to startups, mid-sized businesses, and large of March 31, 2025, the company operates 115 centres across 15 cities, managing 8.40 million sq ft with a total seating capacity of 1,86, to Anand Rathi's IPO report, the company is expanding its real estate footprint and plans to scale its customised office design service, IndiQube Bespoke, across tech platform MiQube is used to streamline operations and improve client experience. The report noted that the company is valued at a price-to-sales ratio of 4.7x and an EV/EBITDA of 14.6x post-issue, with a market cap of Rs 4,977.1 crore. The brokerage recommended a 'Subscribe–Long term' the company is still loss-making, experts see potential. Gaurav Garg from Lemonn Markets Desk said that Indiqube is working in a high-growth but underpenetrated sector. Its strong presence in key office markets and its technology-driven platform are positives. However, due to high valuations and ongoing losses, he suggested that this IPO may be more suitable for long-term investors who can take moderate GMPAs of July 23, 2025, the latest grey market premium (GMP) for Indiqube Spaces IPO stands at Rs 23. Based on the upper end of the price band (Rs 237), the expected listing price is Rs 260. This implies a potential listing gain of around 9.7%.key datesThe IPO will close for bidding on July 25, 2025. The allotment is expected to be finalised on July 28, 2025. The shares are likely to be listed on BSE and NSE on July 30, considering this issue are advised to look at the company's long-term business potential and not just the listing gains. The mix of high-profile clients, expanding presence, and integrated tech support positions Indiqube well in the flexible workspace segment. However, like any IPO, investors should be cautious about valuations and market conditions before deciding.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends advertisement
News18
11 hours ago
- Business
- News18
IndiQube Spaces IPO Opens Today: Should You Apply? Check GMP, Price, Lot Size, Subscription, Reviews
The GMP of the IndiQube Spaces IPO currently stands at 9.70%, indicating mild listing gains for investors. IndiQube Spaces IPO GMP: The initial public offering of workplace solutions company IndiQube Spaces Ltd opened for public subscription today, Wednesday, July 23. It will remain open for bidding for three days till July 25. The price band of the mainboard IPO, which plans to raise Rs 700 crore, has been fixed in the range of Rs 225 to Rs 237 apiece. Till 11:04 am on the first day of bidding on Wednesday, the issue received a 0.19 times subscription, garnering bids for 30,69,801 shares as against the 1,62,79,682 shares on offer. The retail and NII participation stood at 0.79x and 0.16x, respectively. The IPO's grey market premium currently stands at 9.70%, indicating mild listing gains for investors. The IPO will remain open for subscription between July 23, 2025, and July 25, 2025. The share allotment will likely be finalised on July 28 (Monday), and the company is expected to be listed on both BSE and NSE on July 30 (Wednesday). The price band of the IPO has been fixed in the range of Rs 225 to Rs 237 per share. At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore. For investors, the minimum lot size for the IPO is 63. It means investors will have to apply for a minimum of 63 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,175 to apply for the IPO. According to market observers, unlisted shares of IndiQube Spaces Ltd are currently trading at Rs 260 against the upper IPO price of Rs 237. It means a grey market premium or GMP of Rs 23, which is 9.70% over its issue price, indicating mild listing gains. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Brokerages are divided on the IndiQube IPO, with views ranging from cautious optimism to outright avoidance. The company operates 115 centres across 15 cities and manages 8.4 million sq. ft. of flexible office space as of March 31, 2025. KR Choksey Finserv has a 'Neutral' rating, noting that the IPO is 'fully priced in" compared to peers. It said, 'IndiQube's initial issue is priced at 8.4 times TTM EV/EBITDA versus domestic peer average of 12.2 times, and 47.4 times FY25 EV/Adjusted cash EBITDA." SBI Securities recommends 'Avoid', citing negative free cash flows and valuation concerns. 'The issue is valued at FY25 EV/Adj. EBITDA of 40.7 times, which is at a premium to listed peers like Awfis, which trades at 28.1 times," it said, advising investors to wait and track performance post-listing. Anand Rathi gave a 'Subscribe for long term' rating, highlighting IndiQube's tech-driven 'hub-and-spoke" model and integrated platform MiQube. It said, 'Valued at a P/S of 4.7 times and EV/EBITDA of 14.6 times, we believe the IPO is fully priced but recommend subscribing for long-term growth." Arihant Capital also sees potential in the company's scalable, asset-light model. It said, 'With strong tenant retention and presence in cities like Bengaluru and Pune, the company is well-positioned to benefit from rising demand for flexible workspaces. We recommend a 'Subscribe for listing gain'." Kunvarji Finstock pointed out that the company has been posting losses (weighted average EPS of -Rs 15.07) and thus cannot be valued on P/E basis. Still, it maintained a positive stance: 'Losses are due to Ind AS accounting; we recommend subscribing with a long-term view due to strong market presence and topline growth." SMIFS also recommended a 'Subscribe', supported by industry tailwinds and new offerings like 'Sustainability-as-a-Service'. It said, 'While cash flow risks exist in the short term, IndiQube's service-led strategy and premium locations support a positive long-term outlook." 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 raised over Rs 314 crore from anchor investors, a day before its initial share-sale opens for public subscription. The company proposed to utilise the fresh capital 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 sq ft 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, out 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 fiscal 2025, recording a CAGR of 35 per cent from fiscal 2023. 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. ICICI Securities and JM Financial are book-running lead managers to the equity shares are expected to be listed on July 30 on the BSE and NSE. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : initial public offering (IPO) IPO view comments Location : New Delhi, India, India First Published: July 23, 2025, 11:39 IST News business » ipo IndiQube Spaces IPO Opens Today: Should You Apply? Check GMP, Price, Lot Size, Subscription, Reviews Disclaimer: Comments reflect users' views, not News18's. 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News18
14 hours ago
- Business
- News18
Infosys Q1 Results Today: Brokerages Expectations, Dividend, Other Key Updates To Watch Out For
Infosys is set to announce its Q1FY26 earnings today (July 23), with analysts expecting a stable performance Infosys Q1FY26 Earnings Today: Infosys is set to announce its Q1FY26 earnings today (July 23), with analysts expecting a stable performance, buoyed by strong deal momentum, a recovery in the BFSI segment, and strategic investments in generative AI. However, wage hikes and acquisition-related expenses may weigh on margins in the near term. In a regulatory filing, the IT major stated that it will publish its results at approximately 3:45 PM, followed by a press conference at 4:15 PM and an investor/analyst call at 5:30 PM. The results will be available on the BSE and the company's investor relations website, with the press event also streamed live. Large Deal Wins Analysts expect Infosys to report strong large deal ramp-ups and a healthy pipeline, which will remain a key driver of revenue and future growth. BFSI Outlook A recovery in BFSI spending, especially from US banks, is seen as a key tailwind. Brokerages note that the segment is emerging as a bright spot for the company. Margins Under Pressure Margin pressures are expected due to wage hikes and the integration costs from recent acquisitions like MRE Consulting and Missing Link. However, Infosys is likely to stay within its guided EBIT margin range of 20–22%, supported by operational efficiencies. Generative AI Investment Infosys continues to double down on generative AI initiatives, which analysts say could become a significant long-term growth lever. Brokerage Expectations Anand Rathi: Infosys is expected to outperform peers in Q1FY26, backed by early signs of IT recovery and strength in the BFSI vertical. 'Positive cues from US banks and deal wins position Infosys and select mid-tier peers like LTIM and Mphasis for a strong quarter," the brokerage noted. Axis Securities: The firm expects QoQ revenue growth of 2.6%, aided by more working days and BFSI revival. However, operating margins are seen declining 120 bps QoQ due to wage hikes and elevated onsite costs. The brokerage also anticipates an upward revision in Infosys's FY26 revenue guidance to 1–3%, from the earlier 0–3% range. Q4FY25 Recap In Q4FY25, Infosys reported an 8% YoY rise in revenue to Rs 40,925 crore, while net profit declined 11.7% YoY to Rs 7,033 crore. Operating margins came in at 21%. The company reported $2.6 billion in large deal wins during the quarter, bringing FY25 total deal wins to $11.6 billion across 96 contracts — 56% of which were net new. The board had also recommended a final dividend of Rs 22 per share for FY25. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
2 days ago
- Business
- Mint
Mutual funds boost holding in Suzlon Energy to an all-time high in June quarter
Mutual funds increased their bets on Suzlon Energy in the June quarter, as the latest shareholding data reveals that domestic fund houses collectively picked up an additional 1.07% stake in the wind energy company during the period. As of the end of June 2025, 30 mutual funds collectively held a 5.24% stake in Suzlon Energy, equivalent to 7.18 crore shares. This marks a notable increase from 4.17% at the end of the March quarter and 3.82% in Q1FY25, according to BSE shareholding data. The data also shows that Motilal Oswal Midcap Fund now holds a 1.03% stake in the company—a new addition, as the fund had no holdings in Suzlon at the end of March. Meanwhile, the Life Insurance Corporation of India (LIC) continues to hold a 1.02% stake. Retail investors also slightly increased their holdings by 0.1% to 55.1%, while promoters trimmed their stake to 11.7% from 13.3% in Q1FY25. Suzlon has remained on investors' radar in recent months due to positive brokerage views and multiple orders. Motilal Oswal, for instance, recently issued a 'buy' rating with a target price of ₹ 82 per share. The brokerage's optimism is driven by the expected adoption of the Revised List of Models and Manufacturers (RLMM) local content draft notification by Q2FY26, strong order prospects, the gradual phase-out of the ISTS waiver over the next four years, and an increasing share of EPC projects in the order book. Discussions with industry participants suggest that the RLMM notification—mandating local content in key wind turbine components—is likely to be formally implemented in Q2FY26. Motilal Oswal believes that Suzlon is well-positioned to benefit from favorable regulatory developments, a growing order book offering strong revenue visibility, and operational gains through proactive land acquisition and EPC expansion. Earlier, Anand Rathi also noted that Suzlon's 5.6 GW order book, which is 3.6x its FY25 execution volume, provides long-term growth visibility and ensures a steady pipeline of projects. It also reinitiated coverage with a 'buy' rating and a target price of ₹ 81 apiece. Despite these positive projections, the stock has come under pressure in recent months due to broader market weakness, declining 12% from its recent highs. However, Suzlon remains a strong long-term performer, with shares rising 277% over the past two years and over 1,200% in the last five years. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Business Standard
3 days ago
- Business
- Business Standard
Rich or resilient? Market valuation debate heats up amid Q1FY26 results
The outlook for global equities in 2025-26 remains uncertain, with Anand Rathi noting that sentiment around Indian equities is even more cautious Sai Aravindh Mumbai Listen to This Article The long-drawn debate on India's stock valuation is back in focus as the market has recouped nearly 75 per cent of its losses. While benchmark indices hover near long-term averages, some analysts argue that current 'rich' valuations claims overlook broader macroeconomic signals. Going ahead, besides macro-economic strength, corporate earnings growth, analysts suggest, holds the key for the markets to sustain at the current levels and even move higher. Analysts at Anand Rathi recently downplayed concerns around rich market valuations, citing two key factors. First, this does not take into account the strong macroeconomic and robust corporate earnings growth.
