Indiqube Spaces IPO
IPO Listing Details
- Listing Date
30 Jul 2025
- Listing Price
₹218.70
- Listing Change
-7.72%
- Last Traded Price
₹193.90
Indiqube Spaces IPO Details
-
Open Date
23 Jul 2025
-
Close Date
25 Jul 2025
-
Listing Date
30 Jul 2025
- IPO Price Range
₹ 225 to ₹237
- IPO Size
₹ 700 Cr
- Listing Exchange
BSE, NSE
Indiqube Spaces IPO Timeline
Indiqube Spaces IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 23-Jul-25 | 0.06 | 0.83 | 3.63 | 0.93 |
| 24-Jul-25 | 1.49 | 1.94 | 7.32 | 2.68 |
| 25-Jul-25 | 15.12 | 8.68 | 13.28 | 13.00 |
Last Updated: 25 July 2025 6:10 PM by 5paisa
Indiqube Spaces Limited is launching a ₹700 crore IPO. The company provides sustainable, tech-enabled workplace solutions through fully managed offices, offering custom interiors, modern amenities, and scalable models. With 115 centres across 15 Indian cities and 8.4 million sq. ft. under management, Indiqube focuses on transforming old buildings into plug-and-play workspaces. Its “enterprise-first” approach targets large clients, driving rapid expansion into five new cities between 2023 and 2025.
Established in: 2015
Indiqube Spaces Objectives
Funding capital expenditure to establish new centers
Repayment/prepayment/redemption of certain borrowings
General corporate purposes
Indiqube Spaces IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹700.00 Cr |
| Offer For Sale | ₹50.00 Cr |
| Fresh Issue | ₹650.00 Cr |
Indiqube Spaces IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 63 | ₹14,175 |
| Retail (Max) | 13 | 819 | ₹1,84,275 |
| S-HNI (Min) | 14 | 882 | ₹1,98,450 |
| S-HNI (Max) | 66 | 4,158 | ₹9,35,550 |
| B-HNI (Min) | 67 | 4,221 | ₹9,49,725 |
Indiqube Spaces IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 15.12 | 88,41,772 | 13,36,68,801 | 3,167.95 |
| NII (HNI) | 8.68 | 44,20,886 | 3,83,87,349 | 909.78 |
| bNII (bids above ₹10L) | 8.35 | 29,47,257 | 2,46,20,652 | 583.51 |
| sNII (bids below ₹10L) | 9.34 | 14,73,629 | 1,37,66,697 | 326.27 |
| Retail | 13.28 | 29,47,257 | 3,91,43,160 | 927.69 |
| Total** | 13.00 | 1,62,79,682 | 21,16,84,032 | 5,016.91 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Indiqube Spaces IPO Anchor Allocation
| Anchor Bid Date | July 22, 2025 |
| Shares Offered | 1,32,62,658 |
| Anchor portion Size (In ₹ Cr.) | 314.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 27, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 26, 2025 |
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 601.28 | 867.66 | 1102.93 |
| EBITDA | 258.23 | 263.42 | 660.19 |
| PAT | -198.11 | -341.51 | 139.62 |
| Particulars (in Rs. Crores)] | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 2969.32 | 3667.91 | 4685.12 |
| Share Capital | 0.18 | 0.18 | 13.02 |
| Total Borrowings | 623.16 | 164.02 | 343.96 |
| Particulars (in Rs. Crores | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 323.89 | 542.18 | 611.65 |
| Net Cash Generated From / (used in) investing activities | -173.68 | -192.69 | -258.96 |
| Net Cash Generated From / (used in) financing activities | -149.28 | -364.78 | -337.49 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 15.21 | -15.30 | 0.93 |
Strengths
1. Leading brand in India’s expanding flexible workspace sector with nationwide presence and scale.
2. Strategic acquisitions in high-demand areas enable growth and long-term value creation.
3. Strong operational efficiency with capital-light model and effective risk mitigation strategies.
4. Backed by experienced leadership and investors; committed to sustainable, green building ecosystems.
Weaknesses
1. Business performance tied to real estate cycles and fluctuating commercial property valuations.
2. Heavy reliance on demand from large enterprise clients increases revenue concentration risk.
3. High upfront costs for renovation and customisation impact short-term margins.
4. Expansion into new cities requires significant investment and long-term lease commitments.
Opportunities
1. Rising demand for flexible workspaces from startups, SMEs, and large enterprises post-pandemic.
2. Scope to grow in Tier II cities with improving infrastructure and remote work models.
3. Increasing preference for managed, sustainable workspaces offers competitive differentiation.
4. Potential to introduce tech-driven value-added services to enhance client experience and retention.
Threats
1. Remote and hybrid work trends could reduce demand for physical office spaces.
2. Regulatory changes in real estate or tax laws may affect expansion and profitability.
3. Rise in interest rates or inflation may increase operational and lease-related costs.
4. Market competition from new co-working brands and global players could affect pricing power.
1. Strong financial turnaround with FY25 PAT of ₹139.6 crore after losses in previous years.
2. Operates 115 centres across 15 cities; 8.4 million sq. ft. managed workspace portfolio.
3. Positioned in India’s booming flexible workspace sector, expected to reach 100+ MSF by 2026.
4. Proceeds to fund expansion, repay borrowings, and fuel tech-driven, sustainable office space innovation.
1. India’s flexible workspace sector soared 57.5% in leasing volume, reaching 12.4 MSF in 2024.
2. Flex demand projected to grow at ~15‑20% CAGR, reaching over 100 MSF by 2026.
3. Flexible workspaces expected to comprise 20‑21% of India’s total office stock by 2025.
4. Global Capability Centres and IT firms drive major uptake in metros like Bengaluru, Hyderabad.
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FAQs
Indiqube Spaces IPO opens from July 23, 2025 to July 25, 2025.
The size of Indiqube Spaces IPO is ₹700.00 Cr.
The price band of Indiqube Spaces IPO is fixed at ₹225 to ₹237 per share.
To apply for Indiqube Spaces IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Indiqube Spaces IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Indiqube Spaces IPO is 63 shares and the investment required is ₹14,175.
The share allotment date of Indiqube Spaces IPO is July 28, 2025
The Indiqube Spaces IPO will likely be listed on July 30, 2025.
ICICI Securities Ltd. is the book running lead manager for Indiqube Spaces IPO.
Indiqube Spaces plans to utilise the raised capital from the IPO for:
- Funding capital expenditure to establish new centers
- Repayment/prepayment/redemption of certain borrowings
- General corporate purposes
Indiqube Spaces Contact Details
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 IPO Register
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: indiqubespaces.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Indiqube Spaces IPO Lead Manager
ICICI Securities Limited
Jm Financial Limited