Latest news with #IndiQubeSpaces
News18
2 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. 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
5 hours ago
- Business
- Mint
IndiQube Spaces IPO Day 1 Live: Check GMP, issue details, review, subscription status, more.
Workplace solutions provider IndiQube Spaces will begin its public subscription today, Wednesday, July 23, and it will end on Friday, July 25. IndiQube Spaces IPO price band has been set between ₹ 225 and ₹ 237 per share. At the highest end of this price range, the company's valuation approaches ₹ 5,000 crore. The firm aims to raise ₹ 650 crore through a fresh issue, while promoters will sell shares worth ₹ 50 crore through the Offer for Sale (OFS). WestBridge Capital, a prominent investor in the company since 2018, will not sell any of its stake in the OFS. IndiQube Spaces plans to allocate ₹ 462.6 crore of the new capital to fund capital expenditures for establishing new centers, ₹ 93 crore for debt repayment, and the remainder for general corporate uses. The company, which was founded in 2015, oversees a portfolio of 8.40 million square feet across 115 properties in 15 cities, with a total seating capacity of 186,719 as of March 2025. This represents an increase from 74 centers and 4.94 million square feet in March 2023. (Stay tuned for more updates) Follow updates here: 23 Jul 2025, 08:40 AM IST IndiQube Spaces IPO grey market premium is +23. This indicates IndiQube Spaces share price was trading at a premium of ₹ 23 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of IndiQube Spaces share price was indicated at ₹ 260 apiece, which is 9.70% higher than the IPO price of ₹ 237. Analyzing the grey market activities from the past seven sessions, the current IPO GMP is on an upward trend and is anticipated to have a solid listing. The minimum GMP recorded is ₹ 0.00, while the maximum GMP stands at ₹ 40, as stated by experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
14 hours ago
- Business
- Mint
IndiQube Spaces IPO: Workspace solutions provider raises ₹314 crore from anchor investors ahead of public issue
IndiQube Spaces IPO: Workplace solutions provider IndiQube Spaces completed its anchor investor round on Tuesday, July 22, 2025. The company raised over ₹ 314 crore from anchor investors ahead of its initial public offering (IPO). IndiQube Spaces allocated a total of 1,32,62,658 equity shares or 1.32 crore equity shares to the anchor investors at an allocation price of ₹ 237 per share, the company informed BSE in an exchange filing. Of the total equity shares allocated to the anchor investors, 8,932,571 shares were assigned to 8 domestic mutual funds across 21 schemes. Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV & WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund & Malabar Midcap Fund are some of the key anchor investors who were allocated equity shares. Additionally, Max New York Life Insurance, Edelweiss MF, Baroda BNP Paribas, TOCU Europe III S.A R.L., Groww Mutual Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius Private Limited, and Societe Generale were also allotted equity shares. Notably, WestBridge Capital, along with group companies Aravali Investment Holdings, WestBridge AIF I, Konark Trust, and MMPL Trust, has a pre-offer shareholding of 27.95 per cent in the company and is not diluting any stake. On Tuesday, July 22, the grey market premium (GMP) of Indiqube Spaces IPO stood at ₹ 23 per share at 8:36 pm. With the upper price band at ₹ 237 per share, the shares of the company are expected to be listed at ₹ 260, with a premium of 9.7 per cent, according to data from Investorgain. Indiqube Spaces has set the price band for the public issue at ₹ 225 to ₹ 237 per equity share. The company aims to raise ₹ 700 crore from this public offer, of which ₹ 50 crore is reserved for offer for sale (OFS). The remaining ₹ 650 crore will be raised through the issuance of fresh shares. In fiscal 2025, IndiQube reported a total income of Rs1,103 crore and a CAGR of 35 per cent from fiscal 2023. The company's EBITDA stood at ₹ 660 crore with a return on capital employed (RoCE) of 34.21 per cent.
Time of India
15 hours ago
- Business
- Time of India
IndiQube raises Rs 314 cr from anchor investors ahead of Rs 700 cr IPO
BENGALURU: Managed workspace provider IndiQube Spaces has raised Rs 314.3 crore from anchor investors, with the company allotting shares at Rs 237 apiece, the upper end of its IPO price band, ahead of its public issue opening on July 23. Institutional investors participating in the anchor book included Aditya Birla Sun Life Mutual Fund, Invesco India ELSS Tax Saver Fund, WhiteOak Capital, Bandhan Mutual Fund, Motilal Oswal and Malabar Funds. Other investors allotted shares include Max Life Insurance, Edelweiss MF, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius, Societe Generale and Groww Mutual Fund. According to the company's stock exchange filing, 1.32 crore equity shares were allocated to anchor investors, of which nearly 67% went to eight domestic mutual funds across 21 schemes. The IPO, comprising a Rs 650 crore fresh issue and a Rs 50 crore offer for sale by promoters Rishi Das and Meghna Agarwal, will open for subscription between July 23 and July 25. The price band has been set at Rs 225-237 per share. Shares are expected to list on stock exchanges on July 30. Bengaluru-based venture capital firm WestBridge Capital, which holds a 27.95% pre-offer stake through its affiliated entities, is not selling any shares in the IPO. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Founded in 2015, Bengaluru-based IndiQube operates over 8.4 million square feet of managed workspace across 15 cities. The company reported Rs 1,103 crore in revenue in the financial year ended March 2025 (FY25), marking a 35% compounded annual growth rate since FY23. It cut losses by 58% to Rs 141 crore in the period. Occupancy at steady-state centres stood at 86.5%, according to its IPO prospectus. The proceeds from the fresh issue will be used to expand IndiQube's footprint by 3 million sft over the next three years. The company plans to add 1.79 million sft in Bengaluru, 0.74 million sft in Chennai and 0.36 million sft across Tier-II cities, taking its total managed area to 11.5 million sft by FY28. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
17 hours ago
- Business
- News18
IndiQube Spaces raises Rs 314 crore from anchor investors ahead of IPO
Last Updated: New Delhi, Jul 22 (PTI) Workplace solutions company IndiQube Spaces on Tuesday said it has raised over Rs 314 crore from anchor investors, a day before its initial share-sale opens for public subscription. Among the anchor investors who have been allocated shares are — Aditya Birla Sun Life Mutual Fund (MF), WhiteOak MF, Bandhan MF, Motilal Oswal MF, Edelweiss MF, TOCU Europe III S.A R.L., BNP Paribas Financial Markets, Citigroup Global Markets Mauritius and Societe Generale, according to a circular uploaded on BSE's website. As per the circular, IndiQube Spaces allocated 13,262,658 shares to 29 funds. The shares have been allotted at Rs 237 apiece, aggregating the transaction size to Rs 314.32 crore. The Rs 700-crore IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The price band has been set at 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. 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 proposes 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. PTI SP HVA view comments First Published: July 22, 2025, 20:45 IST 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.
