IndiQube Spaces to Launch ₹700 Crore IPO on July 23; Check Price Band, Important Dates, and Issue Details

by Priya

Posted on July 18, 2025

IndiQube Spaces IPO: Key Details

IPO Schedule & Dates

IPO Issue Details

• Price Band: ₹225 – ₹237 per equity share.
• Face Value: ₹1 per share.
• Issue Size: ₹700 crore (₹650 crore fresh issue, ₹50 crore offer for sale by promoters).
• Market Lot: 63 shares per lot; retail investors need to invest a minimum of 1 lot (₹14,931 at upper price band).
• Promoter Selling Shareholders: Rishi Das and Meghna Agarwal (₹25 crore each in OFS).
• Lead Managers: ICICI Securities, JM Financial.
• Registrar: MUFG Intime India Pvt Ltd.
• Allocation:
  • Qualified Institutional Buyers (QIB): 75%
  • Non-Institutional Investors (NII): 15%
  • Retail Investors: 10%

Use of IPO Proceeds

• Capital Expenditure (new centers): ₹426.6 crore
• Debt Repayment: ₹93–100 crore
• General Corporate Purposes: Remaining funds

Company Overview

• Business: IndiQube Spaces is a leading managed workspace solutions provider in India, serving companies from large corporates to startups with customized offices.
• Portfolio: 115 centers across 15 cities, managing 8.4 million sq. ft. of super built-up area and a seating capacity of over 1.8 lakh as of March/June 2025.
• Clients: Myntra, upGrad, NoBroker, RedBus, Siemens, and others.
• Promoters: Rishi Das, Meghna Agarwal, Anshuman Das.
• Key Investors: WestBridge Capital (not selling in this IPO).

Financial Highlights (FY2024)

Important Notes

• Risks: The business is sensitive to real estate market changes and economic cycles; any structural shifts in working patterns (e.g., remote/hybrid work) may impact demand for office spaces.
• Listing Exchanges: Shares will be listed on the BSE and NSE.

For investors, this IPO provides exposure to a managed workspaces leader in India with pan-India presence, robust expansion plans, and seasoned investors, while also carrying risks associated with loss-making operations and market volatility in commercial real estate.