Safecure IPO...
28 Oct, 2025
Indiqube Spaces Limited IPO
Indiqube Spaces Limited is coming up with a bookbuilding IPO of ₹700.00 crores priced between ₹225 to ₹237 per share. The IPO is a combination of both fresh issue of shares and offer-for-sale shares worth ₹650 crores and ₹50 crores respectively. Subscription of the IPO opens on July 23, 2025 and closes on July 25, 2025. The allotment of the same is expected to be finalised by 28th July, 2025 with a tentative listing date of 30th July, 2025 for listing on BSE NSE.
The minimum lot size for any applicant is 63 shares. Minimum lot size investment required by retail investors is ₹14,175, for sNII is ₹2,09,034 and for bNII is ₹10,00,377, with an inclusion of reservation for company employees of about 63,291 shares.
Company Background
Indiqube Spaces Limited was established in 2015 in order to provide dynamic ecosystems that foster creativity, collaboration and productivity as well as to offer workspace solutions to businesses of all sizes. They provide their services to ensure that corporations can have an environment which helps them thrive effortlessly in a space that is curated for growth by redefining traditional working spaces through the use of tech driven techniques, focused on sustainability and adaptability.
Operations and Product Range
Facility and Production
Indiqube Spaces Limited is headquartered in Bengaluru, Karnataka with a team of 680+ professionals working towards creating exceptional workspace experience. The company has catered to a diversified client base of highly experienced professionals from various industries such as Air India Limited, Perforce Software, Visionet India, Scripbox, Facilio, Jupsay, Nammyatri and Hyperswitch.
Brand and Market Presence
The company helped in establishing more than 115 workspaces with a footprint of 8.4 million square feet and caters to over 750 clients through their services. Indiqube registered a 27% growth in its revenue from FY24 to FY25 while operating in 15 cities including both Tier I and Tier II cities Bengaluru, Pune, Gurgaon, Noida, Mumbai and Hyderabad.
Revenue Channels
Indiqube Spaces has two primary sources of revenue generation -
- 1. Workspace Leasing - The company rents out office spaces such as workspaces, private cabins, coworking spaces, flexible desks and meeting rooms which accounts for 82% of their total revenue.
- 2. Value-Added Services (VAS) - Indiqube also generates revenue through services like Interior design and build services, IT services, F&B transport services and more which contribute approximately 13% of the company’s revenue.
Management & Shareholding
Promoters & Shareholding
Promoters and shareholders of the Indiqube Spaces Limited IPO are Rishi Das, who is the Co-founder, Chairman, Executive Director and CEO of the company; Meghna Agarwal, who is the Co-founder, COO and Executive Director of the company and Anshuman Das who is also a Co-founder and Non-Executive Director of the company along with various other shareholders like Aravali Investment Holding, Westbridge AIF, Careernet Technologies Pvt. Ltd. and Hirepro Consulting Pvt. Ltd.
Board Members
Indiqube Spaces Limited's Board of Directors includes both Executive and Non-Executive members such as:
- 1. Rishi Das (Co-founder, Chairman, Executive Director and CEO)
- 2. Meghna Agarwal (Co-founder, COO and Executive Director)
- 3. Anshuman Das (Co-founder and Non-Executive Director)
- 4. Sandeep Singhal (Non-Executive Nominee Director)
- 5. Avalur Gopalaratnam Muralikrishnan (Independent Director)
- 6. Rahul Matthan (Independent Director)
- 7. Naveen Tewari (Independent Director)
- 8. Sachi Krishana (Independent Director)
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Indiqube Spaces Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Indiqube Spaces Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 23, 2025 to July 25, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Issue Price Band | ₹225 to ₹237 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 ₹700.00 Cr) |
| Fresh Issue | 2,74,26,160 shares (aggregating up to ₹650.00 Cr) |
| Offer for Sale | 21,09,704 shares of ₹1 (aggregating up to ₹50.00 Cr) |
| Employee Discount | ₹22.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 18,25,78,871 shares |
| Share Holding Post Issue | 21,00,05,031 shares |
Indiqube Spaces Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 Limited IPO Lot Size
| 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) | 67 | 4,221 | ₹10,00,377 |
Indiqube Spaces Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 70.37% | - |
Competitive Strength:
- ● Indiqube serves as one of the most significant players in the field of working office spaces in India.
- ● The company has a vision focused on demand-driven locations and value creation and also incorporates an acquisition strategy.
- ● Their operation relies on prudent business management strategies and operational metrics.
- ● Indiqube Spaces Limited works on a capital efficient model with comprehensive risk mitigation and resilience.
- ● Indiqube is backed by prominent investors and thrives on the support of an experienced leadership.
- ● The company has an enhanced focus on creating an ecosystem of green buildings.
Indiqube Spaces Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 4,685.12 | 1,102.93 | -139.62 | -3.11 | 343.96 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 3,667.91 | 867.66 | -341.51 | 131 | 164.02 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 2,969.32 | 601.28 | -198.11 | -308.1 | 623.16 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -2.19% |
| ROCE | 34.21% |
| Debt/Equity | -110.58 |
| PAT Margin | -12.66% |
| EBITDA Margin | 58.20% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | -7.65 | |
| P/E (x) |
The Objective of Indiqube Spaces Limited IPO
- The objectives of Indiqube Spaces Limited IPO are as follows -
- 1. To fund capital expenditure in order to establish new centres under the company.
- 2. To repay, in full or in installments, the debt availed by the company.
- 3. To provide capital for funding general corporate requirements.
Conclusion
Indiqube Spaces Limited IPO gives a chance to its investors to participate in a company that offers expert coworking space solutions to a diversified client base from various industries, with high revenue generation and a prominent market presence in the field of coworking spaces in India.
RHP:
DRHP:
Read more :
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- TSC India Limited IPO
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Frequently asked Questions (FAQs )
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1. What is the issue size and price of Indiqube Spaces Limited IPO?
Indiqube spaces limited IPO is a bookbuilding IPO of ₹700.00 crores priced between ₹225 to ₹237 per share.
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2. What is the opening date for the Indiqube Spaces Limited IPO?
The IPO opens for subscription on 23rd July, 2025 and will be closed on 25th July, 2025
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3. What is the minimum investment required by retail investors?
Minimum lot size investment required by retail investors is ₹14,175 i.e. 63 shares, for sNII is ₹2,09,034 i.e. 882 shares and for bNII is ₹10,00,377 i.e. 4,221 shares
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4. Who are the promoters of Indiqube Spaces Limited IPO?
The Indiqube Spaces Limited IPO is promoted by Rishi Das, Meghna Agarwal and Anshuman Das
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