Indiqube Spaces
July 23, 2025 – July 25, 2025
| Price | ₹225 - ₹237 |
| Premium | ₹40 |
|---|---|
| Lot size | 63 |
| Allotment | Jul 28, 2025 |
| Listing | Jul 30, 2025 |
Indiqube Spaces About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 63 | 14931 | 46782 |
| sHNI | 14 | 882 | 209034 | 1671 |
| bHNI | 67 | 4221 | 1000377 | 3342 |
IPO Details
| Total Issue Size | [29535865] shares (aggregating up to 700.00 Cr) |
| Fresh Issue | [27426160] shares(aggregating up to 650.00 Cr) |
| Offer for Sale | [2109705] shares (aggregating up to 50.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 13,01,83,612 shares |
| Share Holding Post Issue | 15,76,09,772 shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
Key Performance Indicators
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROCE | 34.21% | 38.52% | 15.66% |
| RONW | - | -261.43 | - |
| EPS (basic) | -7.5 | -26.09 | -15.28 |
Financial Details In Crores
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 4,685.1 | 3,667.9 | 2,969.3 |
| Revenue | 1,102.9 | 867.7 | 601.3 |
| Profit After Tax | -139.6 | -341.5 | -198.1 |
| EBITDA | 660.2 | 263.4 | 258.2 |
| Net Worth | -3.1 | 130.6 | -308.1 |
| Reserves and Surplus | -23.3 | 129.4 | -308.3 |
| Total Borrowing | 344.0 | 164.0 | 623.2 |
Company Overview
Incorporated: 2015
Business: Tech-driven, sustainable managed workplace solutions
Key Highlights
103 centers across 13 cities
7.76 million sq. ft. of AUM with 172,451 seats
Added 41 properties and expanded to 5 new cities (Mar 2022–Jun 2024)
31.67% of portfolio consists of renovated buildings
Presence
Tier I Cities: Bengaluru, Pune, Chennai, Mumbai, Noida, Gurugram, Hyderabad
Non-Tier I Cities: Coimbatore, Kochi, Madurai, Jaipur, Calicut, Vijayawada
Core Offerings
IndiQube Grow: Co-working and flexible enterprise spaces with shared amenities
IndiQube Bespoke: Fully customizable, sustainable premium office designs
IndiQube One: Property and facility management with tech integration
MiQube Technology Stack: App for booking desks, transport, meals, helpdesk, and events
Business Model
Focus on full-building acquisition in high-demand areas
Partnering with landlords to renovate aging assets into modern workspaces
Enterprise-first approach for large, long-term clients
Team
625 permanent employees as of June 30, 2024
Strength
Strong Position in a High-Growth Market: A leading player in India’s expanding flexible workspace segment, catering to both enterprise and SME clients.
Demand-Driven Expansion Strategy: Focused on acquiring full buildings in high-demand locations and transforming underutilized assets into premium workspaces.
Efficient Operations with Scalable Model: Strong operational metrics supported by in-house design, tech integration, and prudent business management practices.
Weakness
Geographic Concentration Risk: Over 90% of revenue comes from Bengaluru, Pune, and Chennai, making the business vulnerable to regional disruptions.
Real Estate Market Sensitivity: Fluctuations in commercial property prices can impact leasing costs and profitability.
Track Record of Losses: The company has incurred losses in recent years and may continue to do so, affecting its financial stability and cash flows.
Indiqube Spaces Lead Manager(s)
Indiqube Spaces Address
Indiqube Spaces Ltd.
Plot # 53, Careernet Campus,
Kariyammanna Agrahara Road, Devarabisanahalli,
Outer Ring Road,
Bengaluru, Karnataka, 560103
Phone: +91 99000 92210
Email: cs.compliance@indiqube.com
Website: http://www.indiqube.com/
Indiqube Spaces Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083