Indiqube Spaces IPO: Key Details and Objectives

Indiqube Spaces IPO to open on July 23, with a Rs 700 crore fundraising through a fresh issue of 2.74 crore shares and an offer for sale of 0.21 crore shares. The company aims to use the proceeds for capital expenditure, payment of borrowings, and general corporate purposes. The IPO will be listed on BSE and NSE on July 30.

Title: Indiqube Spaces IPO to Open on July 23, Raising Rs 700 Crore

Indiqube Spaces Limited, a leading provider of managed workplace solutions, has announced the launch of its Initial Public Offering (IPO) on July 23, 2025. The IPO will run from July 23 to July 25, with a fresh issue of 2.74 crore shares aggregating Rs 650 crore and an Offer for Sale (OFS) of 0.21 crore shares worth Rs 50 crore. The company aims to use the proceeds for capital expenditure, debt repayment, and general corporate purposes.

The IPO will be led by ICICI Securities Limited and JM Financial Limited, with the equity shares proposed to be listed on both the BSE and NSE on July 30. The price band for the IPO is Rs 225 to Rs 237 per share, with a minimum lot size of 63 shares for retail investors and 14 lots for small non-institutional investors.

Indiqube Spaces has been expanding its portfolio, growing its Assets Under Management (AUM) at a CAGR of 30% over the last two years. As of March 31, 2025, the company manages 8.40 million sq. ft. across 115 properties in 15 cities, with a total seating capacity of 186,719. The company's proprietary tech platform, MiQube, has surpassed 1 million transactions in FY25, providing one-touch access to services such as meeting room bookings and meal orders.

The company's financials for FY25 show a total income of Rs 1,103 crore, a CAGR of 35% from FY23, and an EBITDA of Rs 660 crore. The company has maintained a PAT positive status under IGAAP accounting standards, paying income tax of Rs 7.7 crore in FY24 and Rs 8.4 crore in FY25. The company has received a CRISIL A+ / Stable rating, with consistent upgrades over the last three cycles.

The demand for flexible workspaces is rising due to hybrid work trends, cost-conscious expansion, workspace adaptability, and evolving work culture. According to CBRE, the total flexible workspace stock of 82–86 million sq. ft. in CY2024 is projected to grow to 140–144 million sq. ft. by CY2027 across Tier 1 cities.

References:
[1] https://yourstory.com/2025/07/indiqubes-rs-700-crore-ipo-opens-on-july-23
[2] https://economictimes.indiatimes.com/markets/ipos/fpos/rs-700-crore-indiqube-ipo-to-open-on-july-23/articleshow/122656764.cms
[3] https://www.financialexpress.com/market/indiqube-spaces-ipo-to-open-on-july-23-from-gmp-to-issue-price-5-must-know-details-for-every-investor-3922751/