Indiqube Spaces Limited IPO GMP, Date, Price Band & Review

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. 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. 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. 1. Rishi Das (Co-founder, Chairman, Executive Director and CEO)
2. 2. Meghna Agarwal (Co-founder, COO and Executive Director)
3. 3. Anshuman Das (Co-founder and Non-Executive Director)
4. 4. Sandeep Singhal (Non-Executive Nominee Director)
5. 5. Avalur Gopalaratnam Muralikrishnan (Independent Director)
6. 6. Rahul Matthan (Independent Director)
7. 7. Naveen Tewari (Independent Director)
8. 8. Sachi Krishana (Independent Director)