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Business Standard
6 days ago
- Business
- Business Standard
Indiqube Spaces IPO fully subscribed on Day 2, retail investors lead demand
Indiqube Spaces IPO Day 2 subscription status: The initial public offering (IPO) of workspace solutions company Indiqube Spaces was fully subscribed on its second day of bidding. The ₹700 crore public issue received bids for over 27.2 million equity shares compared to the offer size of 1.71 million shares, resulting in oversubscription of 1.59 times, according to NSE data at 2:20 PM. Retail investors lead the demand, by subscribing to their reserved portion by 5.83 times so far on July 24, followed by non-institutional investors (NIIs) at 1.38 times. However, qualified institutional buyers (QIBs) have subscribed only 26 per cent of the portion reserved for them. Ahead of the IPO, the company raised ₹314.3 crore from 29 institutional investors via an anchor book on July 22. Indiqube Spaces IPO GMP The unlisted shares of Indiqube Spaces were trading at ₹251, reflecting a grey market premium (GMP) of ₹14 or 6 per cent against the upper end of the price band of ₹225 to ₹237 apiece, according to platforms tracking unofficial markets. Here are the key details of Indiqube Spaces IPO: The Bangalore-based Indiqube Spaces aims to raise ₹700 crore through a fresh issue of 27.4 million equity shares worth ₹650 crore and offer for sale (OFS) of 2.1 million shares worth ₹50 crore. Founders Rishi Das and Meghna Agarwal are the promoters selling shareholders. Retail investors can bid for a minimum of one lot comprising 63 shares, requiring a minimum investment amount of ₹14,931 at the upper price band. The issue will close for subscription on Friday, July 25. The basis of allotment of shares is expected to be finalised on Monday, July 28. Shares will be listed on BSE and NSE tentatively on Wednesday, July 30. According to the red herring prospectus (RHP), the company aims to utilise ₹462.6 crore from the net fresh issue proceeds for setting up new centres and ₹93 crore for repayment of debt. The remaining proceeds will be used for general corporate purposes. MUFG Intime India, formerly Link Intime India, is the registrar of the public issue. ICICI Securities and JM Financial are the book-running lead managers.
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Business Standard
23-07-2025
- Business
- Business Standard
Indiqube Spaces IPO invites bids: GMP up 10%; should you apply?
Indiqube Spaces IPO opens for subscritpion: The initial public offering (IPO) of workplace solutions provider Indiqube Spaces is set to open for public subscription today, Wednesday, July 23, 2025. At the upper end, the company aims to raise ₹852.53 crore through the offering, which comprises a fresh issue of 27.4 million equity shares worth ₹650 crore and an OFS with promoters Meghna Agarwal and Rishi Das divesting up to 2.1 million equity shares, aggregating up to ₹50 crore. Notably, Indiqube Spaces has already raised ₹314.32 crore from anchor investors in the bidding that concluded on July 22. Meanwhile, the brokerages remain optimistic about the public offering, citing a favourable long-term outlook. Before delving into the brokerage reports, let's have a look at the key details of the Indiqube Spaces IPO: Indiqube Spaces IPO price band, lot size Indiqube Spaces has set a price band of ₹225-237 per share for the IPO. The lot size is 63 shares, allowing investors to bid for a minimum of one lot (63 shares) at ₹14,931. A retail investor can, however, bid for a maximum of 13 lots or 869 shares of Indiqube Spaces IPO with an investment of ₹1,94,103. Indiqube Spaces IPO grey market premium (GMP) The unlisted shares of Indiqube Spaces were commanding a decent premium in the grey markets ahead of the opening of their public issue on Wednesday. Sources tracking unofficial market activity revealed that Indiqube Spaces shares were trading at ₹260 apiece, reflecting a grey market premium (GMP) of ₹23 or 9.70 per cent over the upper price band of ₹237. Indiqube Spaces IPO timelines Indiqube Spaces IPO will remain open for subscription until Friday, July 25, 2025. Following that, the basis of allotment of Indiqube Spaces IPO shares is expected to be finalised on Monday, July 28, 2025, and shares will be credited to successful allottees' demat accounts on Tuesday, July 29, 2025. The tentative listing date for Indiqube Spaces shares on the BSE and NSE is Wednesday, July 30, 2025. Indiqube Spaces IPO registrar, lead manager MUFG Intime India (Link Intime) has been appointed as the registrar for the Indiqube Spaces IPO, while ICICI Securities acts as the book-running lead manager for the issue. Indiqube Spaces IPO objectives The company will not receive any proceeds from the OFS, as those will go to the selling promoters. The company, however, proposes to utilise the proceeds from the fresh issue for funding capital expenditure towards the establishment of new centers, as well as for the repayment/pre-payment, in full or in part, of certain borrowings availed by the company. Indiqube Spaces will further use the proceeds from the fresh issue for general corporate purposes. Should you subscribe to Indiqube Spaces IPO? Anand Rathi Research - Subscribe for long-term Analysts at Anand Rathi Research team have recommended the investors to subscribe to the public offering for a long-term perspective citing that the issue is fully priced. "At the upper price band, the company is valuing at P/S of 4.7x with EV/EBITDA of 14.6x and market cap of ₹4,977.1 crore post issue of equity shares," wrote the analyst in a research note. The company plans to expand its commercial real estate portfolio further, both in scale and geographical reach across the country. "The company's integrated tech platform, MiQube, connects clients, employees, and service partners to streamline office operations, enhance efficiency, and improve overall workspace experience." About Indiqube Spaces Indiqube Spaces is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions. The company offers a diverse solutions range from providing large corporate offices to small branch offices for enterprises and transforming the workplace experience of their employees by combining interiors, amenities, and a host of value-added services which are incremental to the workspace leasing.
Time of India
22-07-2025
- 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
Mint
21-07-2025
- Business
- Mint
Indiqube Spaces IPO to open on Wednesday: Here are 10 key things to know from the RHP
Indiqube Spaces IPO: The initial public offering (IPO) of Indiqube Spaces is set to open for subscription later this week. The company is already enjoying a strong grey market premium (GMP), signaling a strong buzz around the issue. Indiqube Spaces IPO is scheduled to run from July 23 to July 25, with the tentative listing date fixed as Wednesday, July 30. The issue is priced in the range of ₹ 225 to ₹ 237 per share, with investors allowed to bid in lots of 63 shares. Ahead of the issue opening, here are ten key things that investors should know from the company's red herring prospectus. Indiqube Spaces IPO is a mix of fresh issue of ₹ 650 crore and an offer for sale of ₹ 50 crore. Therefore, the total issue size is ₹ 700 crore. Rishi Das and Meghna Agarwal are the promoter selling shareholders in Indiqube Spaces IPO. Each promoter is looking to offload stake worth ₹ 25 crore. The company plans to use the funds raised from the IPO to fund capex towards establishment of new centres, repayment of certain borrowings availed by the company and for general corporate purposes. While the company's revenue has seen a steady growth to ₹ 1059 crore in FY25 from ₹ 831 crore in FY24 and ₹ 580 crore in FY23, it remains a loss-making entity. In FY25, the company posted a loss of ₹ 140 crore while the figure stood at ₹ 341.5 crore in FY24. In the preceding fiscal, the loss was at ₹ 198 crore. Awfis Space Solutions is the only listed peer of Indiqube Spaces, according to the company's RHP. Unlike Indiqube, Awfis swung to profit in the recently concluded fiscal 2024-25 (FY25). Indiqube Spaces offers workplace solutions, dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities and a host of value-added services. India is one of the largest flexible workspaces markets in APAC with a total stock of over 72 Mn sq. ft. in Tier 1 cities as of H1 CY2024. Favorable demographics, availability of quality talent pool and relative competitive cost for talent may position India as a preferred destination for setting up bases for MNCs, and corporates for their Global Capability Centres (GCCs). These companies may also consider evaluating flexible workspaces to expand their operations in India which may also help in enabling them to outsource some elements of their value chain including but not limited to office experience and running cost-efficient operations. This may also support the existing demand for flexible workspace solutions. Several risks of picking Indiqube Spaces IPO are: The business is sensitive to real estate market fluctuations and we have witnessed a decline in our occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024. The company does not own the properties where its centers are located. Any defect in the title and ownership of such properties may result in centers being shut down, result in relocation costs and termination of client agreements, which may adversely impact business. In the Indiqube Spaces IPO, 75% of the offer is reserved for QIBs, 15% is allocated for NIIs and the remaining 10% for retail investors. ICICI Securities and JM Financial are the book running lead managers while MUFG G Intime India Private Limited is the registrar to the issue. Indiqube Spaces IPO GMP today is ₹ 40. This means, in the grey market, the IPO shares are available at a ₹ 40 premium. At this GMP and the current issue price, Indiqube Spaces shares could list at ₹ 277, a premium of 17% over the upper end of the IPO price of ₹ 237.
The Hindu
18-07-2025
- Business
- The Hindu
IndiQube to raise ₹700 cr. via an IPO
IndiQube Spaces, a Bengaluru-based workplace solutions firm, has fixed a price band of ₹225 to ₹237 per share for its ₹700-crore initial public offering. The company is raising ₹650 crore through the issuance of fresh issue while promoters, Rishi Das and Meghna Agarwal, would offload shares worth ₹50 crore under the offer for sale (OFS). The offer includes a reservation of Equity Shares of face value of ₹1 each, aggregating up to ₹15 million for subscription by Eligible Employees, according to a company communique. The IPO will open for public subscription on July 23 and conclude on July 25. Founded in 2015, IndiQube offers flexible workspace solutions for various businesses, including enterprises, startups, and SMEs.
