Indiqube Spaces IPO Details: โน700 Cr Issue Opens July 23
The Indiqube Spaces IPO is a โน700 crore public issue launched via the book-building process. This IPO includes a fresh issue of 2.74 crore equity shares amounting to โน650 crore, and an Offer for Sale (OFS) of 0.21 crore shares aggregating to โน50 crore.
The IPO will be open for public subscription from July 23 to July 25, 2025. The allotment date is expected to be finalized on Monday, July 28, 2025, and the listing is tentatively scheduled for Wednesday, July 30, 2025, on both the BSE and NSE.
The price band has been fixed at โน225 to โน237 per share, with a lot size of 63 shares. For retail investors, the minimum investment required is โน14,175. For sNII (small non-institutional investors), the minimum bid is 14 lots (882 shares) costing โน2,09,034, while bNII (big non-institutional investors) need to apply for 67 lots (4,221 shares), amounting to โน10,00,377.
A special employee reservation of 63,291 shares is included in the issue, offered at a discount of โน22 per share on the final issue price.
Indiqube Spaces IPO Details
| General | Detail |
|---|---|
| IPO Date | July 23, 2025 to July 25, 2025 |
| Listing Date | [.] |
| Face Value | โน1 per share |
| Issue Price Band | โน225 to โน237 per share |
| Lot Size | 63 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,95,35,864 shares (aggregating up to โน700.00 Cr) |
| Fresh Issue | 2,74,26,160 shares (aggregating up to โน650.00 Cr) |
| Offer for Sale | 21,09,704 shares of โน1 (aggregating up to โน50.00 Cr) |
| Employee Discount | โน22.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 13,01,83,612 shares |
| Share Holding Post Issue | 15,76,09,772 shares |
Indiqube Spaces IPO Lot Size
Investors can place bids starting from a minimum of 63 equity shares, and thereafter in multiples of 63. The table below outlines the minimum and maximum investment limits for both Retail Individual Investors (RIIs) and High Net-worth Individuals (HNIs), presented in terms of share quantity and corresponding investment amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 63 | โน14,931 |
| Retail (Max) | 13 | 819 | โน1,94,103 |
| S-HNI (Min) | 14 | 882 | โน2,09,034 |
| S-HNI (Max) | 66 | 4,158 | โน9,85,446 |
| B-HNI (Min) | 67 | 4,221 | โน10,00,377 |
Indiqube Spaces IPO Promoter Holding
Rishi Das, Meghna Agarwal and Anshuman Das are the promoters of the company.
| Share Holding Pre Issue | 70.47% |
| Share Holding Post Issue | 60.23% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
Indiqube Spaces IPO Timeline
| IPO Timeline | Dates |
|---|---|
| IPO Open Date | Wed, Jul 23, 2025 |
| IPO Close Date | Fri, Jul 25, 2025 |
| Tentative Allotment | Mon, Jul 28, 2025 |
| Initiation of Refunds | Tue, Jul 29, 2025 |
| Credit of Shares to Demat | Tue, Jul 29, 2025 |
| Tentative Listing Date | Wed, Jul 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 25, 2025 |
Indiqube Spaces IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 2,21,04,431 (74.84%) |
| โ Anchor Investor Shares Offered | 1,32,62,658 (44.90%) |
| โ QIB (Ex. Anchor) Shares Offered | 88,41,773 (29.94%) |
| NII (HNI) Shares Offered | 44,20,885 (14.97%) |
| Retail Shares Offered | 29,47,257 (9.98%) |
| Employee Shares Offered | 63,291 (0.21%) |
| Total Shares Offered | 2,95,35,864 (100.00%) |
Investor Category Reservations
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII | Employee limit: Up to Rs 5 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for Employee and RII/NII |
Indiqube Spaces IPO Anchor Investors Details
| Anchor Investors Details | Dates |
|---|---|
| Bid Date | July 22, 2025 |
| Shares Offered | 1,32,62,658 |
| Anchor Portion Size (In Cr.) | 314.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 27, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 26, 2025 |
About Indiqube Spaces IPO
Indiqube Spaces Ltd. is one of Indiaโs fastest-growing workspace solution providers. Founded in 2015, the company focuses on delivering customized, fully managed office spaces to startups, SMEs, and large enterprises. With the launch of its IPO, Indiqube aims to accelerate its expansion strategy, strengthen its market position, and enhance operational capabilities across key Indian cities.
Headquartered in Bangalore, Indiqube operates over 100 centers across 14 cities, managing more than 8 million square feet of workspace. It follows an asset-light business model, partnering with landlords while providing end-to-end workspace management. Through the upcoming Indiqube Spaces IPO, the company plans to utilize proceeds for growth, tech innovation, and partial debt repayment.
The companyโs client base includes notable firms from fintech, edtech, and enterprise sectors. With the Indiqube Spaces IPO, the brand seeks to tap into rising demand for flexible workspaces in Tier I and II cities. This IPO is expected to improve brand visibility, scale operations, and create long-term value for investors looking to enter the booming commercial real estate segment.
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The flexible workspace market expands post-pandemic, Indiqube is well-positioned to benefit from strong tailwinds. The IPO proceeds will further enable investments in technology, client servicing, and customized workspace delivery. The Indiqube Spaces IPO thus marks a pivotal moment in the companyโs strategic journey toward becoming Indiaโs leading workspace brand.
Indiqube Spaces Products
- Fully managed and scalable office spaces
- Custom workspace solutions for enterprises
- Technology-driven access and facility management
- Shared meeting rooms and business lounges
- Office interior planning and design services
- Support for business continuity and remote teams
Strengths of Indiqube Spaces IPO
- Asset-light and highly scalable business model
- Presence in high-growth Tier I and II cities
- Strong client retention and recurring revenue streams
- Technology-first approach to workspace operations
- Diverse clientele across emerging industries
- Experienced leadership and management team
- Positive outlook post-IPO listing
Company Financials
Indiqube Spaces IPO Financial Informatio
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 4,685.12 | 3,667.91 | 2,969.32 |
| Revenue | 1,102.93 | 867.66 | 601.28 |
| Profit After Tax | -139.62 | -341.51 | -198.11 |
| EBITDA | 660.19 | 263.42 | 258.23 |
| Net Worth | -3.11 | 130.63 | -308.10 |
| Reserves and Surplus | -23.30 | 129.44 | -308.28 |
| Total Borrowing | 343.96 | 164.02 | 623.16 |
| Amount in โน Crore | |||
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROCE | 34.21% |
| Debt/Equity | -110.58 |
| PAT Margin | -12.66% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | -7.65 |
- Note:
- The Pre-IPO EPS is calculated using the pre-issue shareholding as disclosed in the RHP and the latest available financial year earnings as of March 31, 2025.
- The Post-Issue EPS is derived based on the post-issue shareholding structure and the annualized earnings for the same financial year, as reported in the Red Herring Prospectus (RHP).
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (โน in crores) |
|---|---|---|
| 1 | Funding capital expenditure towards establishment of new centers | 462.65 |
| 2 | Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company | 93.04 |
| 3 | General corporate purposes |
Indiqube Spaces IPO Contact Details
Indiqube Spaces Ltd. Contact Details
- Indiqube Spaces Ltd.
Plot # 53, Careernet Campus,
Kariyammanna Agrahara Road, Devarabisanahalli,
Outer Ring Road,
Bengaluru, Karnataka, 560103 - Phone: +91 99000 92210
- Email: cs.compliance@indiqube.com
- Website: http://www.indiqube.com/
Indiqube Spaces IPO Registrar
- MUFG Intime India Private Limited (Link Intime)
- Phone: +91-22-4918 6270
- Email: indiqubespaces.ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
- Fresh issue: โน650 crore (2.74 crore shares)
- Offer for Sale (OFS): โน50 crore (0.21 crore shares)
- IPO Opens: July 23, 2025
- IPO Closes: July 25, 2025
- Allotment Date: July 28, 2025
- Listing Date (Tentative): July 30, 2025
- Price Band: โน225 to โน237 per share
- Lot Size: 63 shares
- Minimum Retail Investment: โน14,175
- Reservation for employees: 63,291 shares
- Employee Discount: โน22 per share
- Business expansion across new cities
- Repayment of certain outstanding borrowings
- Investment in technology and workspace enhancements
- Retail Investors: Minimum 1 lot (63 shares) โ โน14,175
- sNII (Small HNI): Minimum 14 lots (882 shares) โ โน2,09,034
- bNII (Big HNI): Minimum 67 lots (4,221 shares) โ โน10,00,377
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