Indiqube Spaces IPO: Sets Sights on Expansion with ₹700 Crore IPO
Flexible workspace provider Indiqube Spaces Limited has announced its Initial Public Offering (IPO) to raise up to ₹700 crore. The public issue is scheduled to open for subscription on Wednesday, July 23, 2025, and will conclude on Friday, July 25, 2025.
The Bengaluru-based company, incorporated in 2015, aims to utilize the proceeds primarily for capital expenditure to establish new centers and for the repayment of debt, signaling a strong focus on growth and strengthening its financial position.
Indiqube Spaces IPO Structure and Details
The IPO comprises a fresh issue of 2,74,26,160 equity shares, aggregating up to ₹650 crore, and an Offer for Sale (OFS) of 21,09,704 shares, worth ₹50 crore, by existing shareholders. The price band for the issue has been fixed at ₹225 to ₹237 per share, with a face value of ₹1 per share.
Investors can bid for a minimum lot of 63 shares and in multiples thereof. At the upper end of the price band, the minimum investment for a retail investor will be ₹14,931. The shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of Wednesday, July 30, 2025.
The issue includes a reservation for eligible employees, who will be offered a discount of ₹22 per share on the issue price.
Allocation of Indiqube Spaces IPO Proceeds
According to the company’s prospectus, the net proceeds from the fresh issue will be allocated towards the following objectives:
* ₹462.65 crore: Funding capital expenditure for the establishment of new centers.
* ₹93.04 crore: Repayment or pre-payment of certain borrowings.
* The remaining amount will be used for general corporate purposes.
Company Financials and Operations
Indiqube Spaces provides managed and tech-driven workplace solutions across 15 cities in India. As of March 31, 2025, the company manages a portfolio of 115 centers with a total seating capacity of 186,719.
Financially, the company has demonstrated significant growth in its top line. For the financial year ending March 31, 2025, Indiqube reported revenue of ₹1,102.93 crore, a 27% increase from the ₹867.66 crore recorded in the previous fiscal year.
The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a substantial jump to ₹660.19 crore in FY25 from ₹263.42 crore in FY24. While the company has historically recorded losses, it significantly narrowed its loss after tax to ₹-139.62 crore in FY25, compared to a loss of ₹-341.51 crore in FY24. However, the company’s net worth stood at ₹-3.11 crore as of March 31, 2025. Total borrowings were recorded at ₹343.96 crore.
Indiqube Spaces IPO: Investor Reservation Quotas
The Indiqube Spaces IPO allocation is structured as follows:
* Qualified Institutional Buyers (QIB): 74.84% of the net issue (post-employee portion), after anchor allocation.
* Non-Institutional Investors (NII/HNI): 14.97%
* Retail Individual Investors (RII): 9.98%
* Employee Shares: 63,291 shares
The allotment of shares is expected to be finalized by Monday, July 28, 2025, with refunds and credit of shares to demat accounts scheduled for the following day.