Indiqube Spaces Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹225- ₹237
- Lot size
- 63 shares
- Issue amount
- ₹700 cr
- Total subscription
- 12.41×
- Opens
- 23 Jul 2025
- Closes
- 25 Jul 2025
- Allotment
- 28 Jul 2025
- Listing
- 30 Jul 2025
Offer at a glance
Issue overview
- Issue size
- 2,95,35,865 shares
- Face value
- NA
- Minimum investment
- ₹14,175
- Fresh issue
- ₹650 cr
- Offer for sale
- ₹50 cr
- Registrar
- Link Intime India Private Ltd
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,931
- Issue type
- Bookbuilding IPO
- Shares before issue
- 13,01,83,612
- Shares after issue
- 13,01,83,612
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 63 | ₹14,931 |
| sHNI | 14 | 882 | ₹2,09,034 |
| bHNI | 67 | 4,221 | ₹10,00,377 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 46,782 | 6,35,561 |
| HNIs(10L +) | 3,342 | 27,915 |
| HNIs (2-10L) | 1,671 | 15,773 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 209.55 | 3,167.95 |
| RETAIL | 69.85 | 948.96 |
| HNIs 2+ | 34.93 | 329.71 |
| HNIs 10+ | 69.85 | 583.51 |
| EMPLOYEES | 1.65 | 11.95 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | -2.3 | -26.09 | -15.28 |
| ROE | 0 | 0 | 0 |
| ROCE | 32.09 | 38.52 | 15.66 |
| RONW | -46.65 | -261.43 | 0 |
| PRE IPO(PE) | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Founded in 2015, this company offers tech-driven and sustainable managed workplace solutions. It operates 103 centers across 13 cities, covering 7.76 million square feet with 172,451 seats. Between March 2022 and June 2024, it added 41 new properties and expanded to five new cities. About 31.67% of its portfolio includes renovated buildings. Its presence spans major cities like Bengaluru, Pune, Chennai, Mumbai, Noida, Gurugram, and Hyderabad, along with other cities such as Coimbatore, Kochi, Madurai, Jaipur, Calicut, and Vijayawada. The company provides flexible co-working spaces, fully customizable premium office setups, and property management services enhanced by technology. It also offers an app for desk bookings, transport, meals, helpdesk, and events. Its business model focuses on acquiring full buildings in high-demand areas and working with landlords to renovate older spaces into modern work environments, primarily catering to large enterprise clients. As of June 30, 2024, the company employs 625 permanent staff members.
Strengths
- Leading position in a fast-growing market: Major player in India’s flexible workspace sector, serving both enterprises and SMEs
- Smart growth strategy: Focused on acquiring entire buildings in prime locations and upgrading unused spaces into premium workspaces
- Efficient and scalable operations: Strong performance driven by in-house design, technology, and effective management
Risk factors
- High dependence on few cities: Over 90% of revenue comes from Bengaluru, Pune, and Chennai, making it prone to regional risks
- Sensitive to real estate market changes: Shifts in commercial property prices can affect leasing costs and profits
- History of financial losses: The company has faced losses in recent years, which may impact its financial health and cash flow
Promoters
Rishi Das
Meghna Agarwal
Anshuman Das
Registrar & documents
Lead manager
ICICI Securities Limited, Jm Financial Limited
Registrar & contacts
Link Intime India Private Ltd
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot # 53, Careernet Campus, Kariyammanna Agrahara Road, Devarabisanahalli, Outer Ring Road, Bengaluru, Karnataka, 560103
+91 99000 92210
[email protected]Company website ↗Understanding INDIQUBE IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.