Indiqube Spaces IPO
Indiqube Spaces IPO
Overview
Indiqube Spaces IPO is a bookbuilding of ₹700.00 crores. The issue is a combination of fresh issue of 2.74 crore shares aggregating to ₹650.00 crores and offer for sale of 0.21 crore shares aggregating to ₹50.00 crores. Indiqube Spaces IPO opens for subscription on July 23, 2025 and closes on July 25, 2025. The allotment for the Indiqube Spaces IPO is expected to be finalized on Monday, July 28, 2025. Indiqube Spaces IPO will be list on BSE, NSE with a tentative listing date fixed as Wednesday, July 30, 2025. Indiqube Spaces IPO price band is set at ₹225 to ₹237 per share. The lot size for an application is 63. The minimum amount of investment required by an retail is ₹14,175 (63 shares). The lot size investment for sNII is 14 lots (882 shares), amounting to ₹2,09,034, and for bNII, it is 67 lots (4,221 shares), amounting to ₹10,00,377. The issue includes a reservation of up to 63,291 shares for employees offered at a discount of ₹22.00 to the issue price. ICICI Securities Limited is the book-running lead manager of the Indiqube Spaces IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.
Total Shares
2,95,35,864
Issue Size
₹700.00 Cr
Price Band
₹237 – ₹237
Lot Size
63 shares
Min. Investment
₹14,931
Max. Investment
₹1,94,103
Open Date
23 Jul, 2025
Close Date
25 Jul, 2025
Allotment
28 Jul, 2025
Listing
30 Jul, 2025
Max. Investment
₹1,94,103
Announced
23 Jul, 2025
Opening Date
23 Jul, 2025
Closing Date
25 Jul, 2025
Basis of Allotment
28 Jul, 2025
Initiation of Refunds
29 Jul, 2025
Credit of Shares
29 Jul, 2025
Listing Date
30 Jul, 2025
Live GMP
Est. Listing: ₹241
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About Indiqube Spaces IPO
Incorporated in 2015, Indiqube Spaces Limited provides managed, sustainable, and tech-driven workplace solutions, aiming to transform the traditional office experience for modern businesses.
The company offers diverse workplace solutions, including corporate hubs and branch offices, enhancing employee experience with interiors, amenities, and services.
The company integrates asset renovation, customized models, and B2B/B2C value-added services, offering comprehensive workspace sol
Indiqube Spaces IPO Share Price
Issue Breakdown
Shareholding
Dilution: 15.0% increase in shares
Indiqube Spaces IPO Promoters Holding
Indiqube Spaces IPO Financial Health
Indiqube Spaces Ltd.'s revenue increased by 27% and profit after tax (PAT) rose by 59% between the financial year ending with March 31, 2025 and March 31, 2024.
Indiqube Spaces IPO Lot Size
Investors can bid for a minimum of 63 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 63 | ₹14,931 |
| Retail (Max) | 13 | 819 | ₹1,94,103 |
| S-HNI (Min) | 14 | 882 | ₹2,09,034 |
| S-HNI (Max) | 66 | 4158 | ₹9,85,446 |
| B-HNI (Min) | 674 | 4221 | ₹10,00,377 |
(All values in CR)
Indiqube Spaces IPO Valuations
The market capitalization of Indiqube Spaces IPO is ₹4977.12 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | -2.19 |
| ROCE | 34.21 |
| Debt/Equity | -110.58 |
| PAT Margin | -12.66 |
| EBITDA Margin | 58.20 |
| Price to Book Value | -987.50 |
(All values in CR)
Indiqube Spaces IPO Strength & Risk
Indiqube Spaces IPO Strength:
Large issue size & robust backing
₹700 cr IPO (₹650 cr fresh issue + ₹50 cr OFS); backed by WestBridge and promoters.Clear use of proceeds
₹462.6 cr for new centres, ₹93 cr for debt repayment, rest for corporate purposes.Strong scale & client base
115 centres in 15 cities, 8.4 mn sq ft portfolio, seating capacity 186,700; 769 clients including GCCs.Fast revenue growth
FY25 revenue ₹1,103 cr (35 % CAGR since FY23).Tech-enabled ecosystem
MiQube platform exceeded 1 million transactions; focus on enterprise clients with 63 % area leased to ≥300-seat tenants.Capital-efficient, controlled growth
Focus on debt reduction and green buildings; experienced leadership.
Indiqube Spaces IPO Risk:
Persistent net losses
Though losses narrowed, net loss still notable in FY25 (rep. Rs‑14 cr or unclear; past losses reported).Occupancy & real estate sensitivity
Revenue heavily (89 %) reliant on Bengaluru, Pune, Chennai; occupancy fell from 83.7 % to 80.2 %.Fixed-cost intensity
High lease commitments and capex risk tied to new centre launches.Execution & competition risk
Must maintain occupancy and high standards amid competition (Awfis, Smartworks).Grey market dependency
Investor sentiment (reflected in GMP) can be volatile and is not a reliable performance guarantee.
Indiqube Spaces IPO Subscriptions Status
Indiqube Spaces IPO subscribed 12.48 times. The public issue subscribed 12.54 times in the retail category, 14.63 times in QIB, and 8.24 times in the NII category by July 25, 2025 3:29:34 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 1,32,62,658 | 1,32,62,658 | 314.32 |
| Qualified Institutions | 14.63 | 88,41,772 | 12,93,58,152 | 3 |
| Non-Institutional Buyers | 8.24 | 44,20,886 | 3,64,34,097 | 863.49 |
| bNII (bids above ₹10L) | 7.92 | 29,47,257 | 2,33,48,304 | 553.35 |
| sNII (bids above ₹10L) | 8.88 | 14,73,629 | 1,30,85,793 | 310.13 |
| Retail | 12.54 | 29,47,257 | 3,69,48,996 | 875.69 |
| Employees | 6.65 | 69,767 | 4,63,932 | 11 |
| Total | 12.48 | 1,62,79,682 | 20,32,05,177 | 4 |
Indiqube Spaces IPO GMP
Indiqube Spaces IPO last GMP is ₹4, last updated Jul 25th 2025 02:59 PM. With the price band of 237.00, Indiqube Spaces IPO's estimated listing price is ₹241 (cap price + today's GMP).The expected percentage gain/loss per share is 1.69%. >> Indiqube Spaces IPO Retail Subject to Sauda: ₹200 >> Indiqube Spaces IPO Small HNI Subject to Sauda: ₹2800 The lowest GMP is ₹0.00, while the highest GMP is ₹40.00.
Last updated 25 Jul, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 25 Jul, 2025 | 237 | ₹4▼ | 200/2800 | ₹241 (1.69%) | 252 | 25 Jul, 2025 |
| 24 Jul, 2025 | 237 | ₹10▼ | 500/7000 | ₹247 (4.22%) | 630 | 24 Jul, 2025 |
| 23 Jul, 2025 | 237 | ₹14▼ | 700/9800 | ₹251 (5.91%) | 882 | 23 Jul, 2025 |
| 22 Jul, 2025 | 237 | ₹23▼ | 1100/15400 | ₹260 (9.70%) | 1449 | 22 Jul, 2025 |
| 21 Jul, 2025 | 237 | ₹32▼ | 1500/21000 | ₹269 (13.50%) | 2016 | 21 Jul, 2025 |
| 20 Jul, 2025 | 237 | ₹40 | 1900/26600 | ₹277 (16.88%) | 2520 | 20 Jul, 2025 |
| 19 Jul, 2025 | 237 | ₹40 | 1900/26600 | ₹277 (16.88%) | 2520 | 19 Jul, 2025 |
| 18 Jul, 2025 | 237 | ₹40▲ | 1900/26600 | ₹277 (16.88%) | 2520 | 18 Jul, 2025 |
| 17 Jul, 2025 | 0 | ₹0 | - | - | - | 17 Jul, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Indiqube Spaces IPO
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Find Indiqube Spaces IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.