- Anchor Investor Bidding Date – Tuesday, July 22, 2025
- Bid /Offer Closing Date –Friday, July 25, 2025
- Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, JULY 21
Flexible workspace provider the IndiQube Spaces Limited IPO price band has been fixed in the range of ₹225 to ₹237 per equity share of the face value of Re 1. The IPO date of subscription is scheduled for Wednesday, July 23 and will close on Friday, July 25. The allocation to anchor investors for the Indiqube Spaces IPO is scheduled to take place on Tuesday, July 22.
The IndiQube Spaces IPO lot size is 63 equity shares and in multiples of 63 equity shares thereafter.
IndiQube Spaces IPO, which is worth ₹700 crore, comprises a fresh issue of ₹650 crore, and an offer-for-sale (OFS) of 21,09,704 equity shares aggregating up to ₹50 croren by the Promoter Selling Shareholders – Rishi Das, Co-partner & CEO and Meghna Agarwal Co-partner & COO.
The company, which was incorporated in 2015, had raised ₹324 crore in two funding rounds during 2018 and 2022.
IndiQube Spaces IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to ₹1.5 crore. A discount of ₹22 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The primary objectives of the IPO are to channel ₹ 426.6 crore towards capital expenditure, ₹ 100 crore for debt repayment, and the remaining for general corporate purposes. Promoters Rishi Das and Meghna Agarwal will each offload shares worth ₹ 25 crore through the OFS. Established in 2015, the company has grown significantly in the workplace technology stack sector with MiQube, facilitating services like booking meeting rooms and ordering meals.
Operating in 15 cities across India, including major Tier I cities, IndiQube manages 103 centres spanning 7.76 million square feet with 172,451 seats. The company has rapidly expanded, adding 41 properties and entering five new cities between March 2022 and June 2024.
Its total income rose to ₹1,102.93 crore in 2024-25 from ₹867.66 crore in the preceding year.
IndiQube Spaces share price is likely to be listed on BSE and NSE on Wednesday, July 30.
ICICI Securities, and JM Financial is the book-running lead manager, while MUFG Intime India Private (Formerly Link Intime India Private) is the registrar for the issue.
