Latest news with #IndiQubeSpaces
News18
2 hours ago
- Business
- News18
IndiQube Spaces IPO subscribed 2.54 times on day 2 of bidding
New Delhi, Jul 24 (PTI) The initial public offer of workplace solutions company IndiQube Spaces Ltd fetched 2.54 times subscription on Thursday, the day two of bidding. The initial share sale received bids for 4,35,18,006 shares against 1,71,48,335 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) attracted 6.90 times subscription while the portion for non institutional investors got covered 1.84 times. The quota for Qualified Institutional Buyers (QIBs) received 1.42 times subscription. IndiQube Spaces on Tuesday said it has raised over Rs 314 crore from anchor investors. The Rs 700-crore initial public offer (IPO) of the Bengaluru-based firm will conclude on July 25. The price band has been fixed at Rs 225-237 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 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 the rest for general corporate purposes. The company, which was incorporated in 2015, manages a portfolio of 8.40 million square feet 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 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. ICICI Securities and JM Financial are the book running lead managers to the offer. The equity shares are expected to be listed on July 30 on the BSE and NSE. PTI SUM SUM ANU ANU view comments First Published: July 24, 2025, 19:30 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.
Time of India
4 hours ago
- Business
- Time of India
Indiqube Spaces IPO subscribed 87% on day 1 of offer
NEW DELHI: The initial public offer of workplace solutions company Indiqube Spaces Ltd got subscribed 87 per cent on the first day of bidding on Wednesday. The initial share sale received bids for 1,50,00,111 shares against 1,71,48,335 shares on offer, according to NSE data. Retail Individual Investors (RIIs) part got subscribed 3.41 times while non-institutional investors portion received 78 per cent subscription. The quota for Qualified Institutional Buyers (QIBs) received 6 per cent subscription. IndiQube Spaces on Tuesday said it has raised over Rs 314 crore from anchor investors. The Rs 700-crore initial public offer (IPO) of the Bengaluru-based firm will conclude on July 25. The price band has been fixed 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 the rest for general corporate purposes. The company, which was incorporated in 2015, manages a portfolio of 8.40 million square feet 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 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. ICICI Securities and JM Financial are the book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and NSE.
Economic Times
7 hours ago
- Business
- Economic Times
Indiqube Spaces IPO subscribed 1.4 times on day 2; Check GMP, and other key details
The IPO of IndiQube Spaces was subscribed 1.39 times by midday on Day 2, with strong retail participation at 5.08x. The Rs 700-crore issue has a price band of Rs 225–237 per share. In the grey market, shares were quoting at a Rs 17–18 premium. Proceeds will fund new centres, repay borrowings, and support general corporate needs. Tired of too many ads? Remove Ads IPO Details Tired of too many ads? Remove Ads About the Company The initial public offering (IPO) of Indiqube Spaces was subscribed 1.39 times as of 12:12 pm on the second day of bidding on IPO received bids for 2.38 crore shares against 1.71 crore shares on offer. The retail investor portion showed the highest interest, subscribing 5.08 times their allotted quota. The Non-Institutional Investors (NIIs) portion was subscribed 1.17 times, while Qualified Institutional Buyers (QIBs) subscribed 26%.In the grey market, Indiqube Spaces shares were quoting a premium of Rs 17–18, suggesting a potential upside of around 7% over the upper end of the price Read: Is the IPO market the new gold? 2025 listings outshine Nifty with 4X returns The price band for Indiqube Spaces' IPO is set between Rs 225 and Rs 237 per share. Investors can bid for the shares in lots of 63, meaning a minimum investment of approximately Rs 14,931 (at the upper band).The total issue size is Rs 700 crore, comprising a fresh issue of Rs 650 crore, the proceeds of which will go to the company, and an offer for sale (OFS) of Rs 50 crore by existing shareholders looking to partially offload their Securities is the lead manager for the IPO, while MUFG Intime India (formerly Link Intime) is the issue Read: Can Swiggy ride the sentiment wave after Eternal's blowout quarter? 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 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 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)
News18
10 hours ago
- Business
- News18
IndiQube Spaces IPO GMP Falls, Issue Subscribed 1.1x On Day 2 So Far: Should You Apply?
Last Updated: IndiQube Spaces IPO GMP Today: The grey market premium has slipped from 9.70% to 5.91%, indicating weak listing for the IPO. IndiQube Spaces IPO GMP Today: The initial public offering of workplace solutions company IndiQube Spaces Ltd is witnessing a second day of bidding today, Thursday, July 24. It will be closed on July 25. Till 10:34 am on the second day of bidding on Thursday, the issue received a 1.15 times subscription, garnering bids for 1,87,51,572 shares as against the 1,62,79,682 shares on offer. The retail and NII participation stood at 4.52x and 1.05x, respectively. The QIB category has received a 0.06x subscription. Its grey market premium has slipped from 9.70% to 5.91%, indicating weak listing for the IPO. IndiQube Spaces IPO Key Dates 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). IndiQube Spaces IPO Price & Lot Size 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. 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 251 against the upper IPO price of Rs 237. It means a grey market premium or GMP of Rs 14, which is 5.91% over its issue price, indicating weak listing next week. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. IndiQube Spaces IPO: Should You Apply? 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." IndiQube Spaces IPO: More Info 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 issue. The equity shares are expected to be listed on July 30 on the BSE and the 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 24, 2025, 10:47 IST News business » ipo IndiQube Spaces IPO GMP Falls, Issue Subscribed 1.1x On Day 2 So Far: Should You Apply? 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.
Time of India
21 hours ago
- Business
- Time of India
IndiQube Spaces raises ₹314 crore from anchor investors ahead of IPO
NEW DELHI: IndiQube Spaces , a managed workspace solutions company, has raised over ₹314.32 crore from anchor investors ahead of its initial public offering. The shares were allotted at ₹237 apiece, according to an exchange filing. Key anchor investors include Aditya Birla Sun Life MF , Ashoka WhiteOak ICAV , Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, Motilal Oswal Large Cap Fund, Malabar India Fund, and Malabar Midcap Fund. Other participants include 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, and Société Générale. Out of 13.26 million equity shares allocated to anchor investors, 8.93 million shares (67.35%) were allotted to eight domestic mutual funds across 21 schemes. Private equity investor WestBridge Capital, which holds a 27.95% pre-offer stake in IndiQube through its group entities, is not diluting its holding in the offer. Founded in 2015, IndiQube had a portfolio of 8.40 million sq ft across 115 properties in 15 cities with a seating capacity of 1,86,719 as of March 2025, up from 4.94 million sq ft across 74 centres in March 2023. Of its 769 clients, 44% are Global Capability Centres, and 63% of occupied area comes from clients leasing over 300 seats. The company reported a total income of ₹1,103 crore in FY25, with an EBITDA of ₹660 crore and an RoCE of 34.21%. Occupancy at steady state centres stood at 86.50%. IndiQube paid income tax of ₹7.7 crore in FY24 and ₹8.4 crore in FY25 under IGAAP, and holds a CRISIL A+/Stable rating. The IPO opens on July 23, 2025, and closes on July 25, 2025, with a price band of ₹225–₹237 per share. ICICI Securities and JM Financial are the book-running lead managers.
