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Indiqube Spaces Ltd IPO

The Company is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities and a host of value-added services.

Indiqube Spaces Ltd IPO Details

Total Shares Offered

₹ 2,95,35,865

Offer to Public

21,09,705

Retail Max (Shares)

₹ 29,47,257

Pre Issue Promoters Holding

₹ 12,93,77,052

Exchange

BSE

Issue size

₹ 700 Cr

IPO Open Date

Jul 23, 2025

Close Date

Jul 25, 2025

Lot Size

Min Investment

₹ 14,175

Issue Type

Book Building

Listing Date

Jul 30, 2025

Indiqube Spaces Ltd IPO Dates

Jul 23, 2025

Opening date

Jul 25, 2025

Closing date

Jul 28, 2025

Basis of Allotment

Jul 29, 2025

Initiation of Refunds

Jul 29, 2025

Credit of Shares

Jul 30, 2025

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	6.05x	22104431	133668801
NII	8.72x	4420886	38532438
Retail	13.59x	2947257	40040343
Employee	7.97x	63291	504378
Total	7.2x	29535865	212745960

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

6.05x

8.72x

13.59x

7.97x

7.2x

22104431

4420886

2947257

63291

29535865

133668801

38532438

40040343

504378

212745960

Indiqube Spaces Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	329.84	7.42	70.22
EBITDA	816.98	399.66	368.37
PAT	-139.62	-341.51	-198.11
Total Assets	1,202.51	1,058.87	747.04
Share Capital	20.19	1.19	500.01
Total Borrowings	1,393.32	1,144.73	810.79
Operating Activities (Net Cash)	347.52	50.73	100.04
Investing Activities (Net Cash)	-114.29	-78.35	-23.01
Financing Activities (Net Cash)	1,393.32	1,144.73	810.79
Net Cashflow	6.03	0.45	10.46

About Indiqube Spaces Ltd

Indiqube Spaces Limited was incorporated as Innovent Spaces Private Limited, a private limited company under the Companies Act, 2013 on January 14, 2015, and was granted the certificate of incorporation by the Registrar of Companies, Kanpur. The registered office of the Company was shifted from the state of Uttar Pradesh to the state of Karnataka pursuant to a special resolution passed by its Shareholders on October 16, 2018. The alteration with respect to the place of the registered office was confirmed by the order of the Regional Director, Bengaluru on November 21, 2019 and a fresh certificate of incorporation was issued by the the Registrar of Companies, Karnataka at Bengaluru (RoC) on March 19, 2020. Subsequently, the name of the Company was changed to Indiqube Spaces Private Limited and a fresh certificate of incorporation dated November 8, 2024 was issued by the RoC. Pursuant to the conversion of the Company into a public limited company and a special resolution passed by our Shareholders at the EGM on November 16, 2024, the name of the Company was changed to Indiqube Spaces Limited, and the RoC issued a fresh certificate of incorporation on December 17, 2024.

Flexible workspace solutions primarily refer to fully furnished and serviced real estate offerings provided by flexible workspace operators to end users with potential flexibilities built-in around aspects including but not limited to space design, tenure, area, location and product. Multiple leading operators have also now developed the capability to offer multiple value-added and ancillary products and services.

Peer Comparison:

Indiqube Space Ltd
Awfis Space Solutions Limited

Indiqube Spaces Ltd Key Points

Strengths

One of the Leading Players in the Large and Growing Flexible Workspace Market in India.

Acquisition Strategy with a Focus on Value Creation and Demand-Driven Locations.

Prudent Business Management Practices with Strong Operational Metrics.

Capital Efficient Model with Resilience and Comprehensive Risk Mitigation.

Experienced Leadership and Prominent Investor Base.

Risk

For Fiscals 2025, 2024 and 2023, 88.84%, 91.82% and 93.18% of its revenue from operations, respectively, was derived from its centers in Bengaluru, Pune and Chennai collectively. Any adverse developments affecting the company centers in these locations, could have an adverse effect on its business, results of operations and financial condition.

Its business is sensitive to real estate market fluctuations and the company has witnessed a decline in its occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024; changes in commercial property prices can significantly impact its leasing costs, which may adversely affect the company profitability.

The company has experienced losses in the last three Fiscals and its may continue to incur losses in the future which could have an adverse effect on its business, results of operations and cash flows.

Strategy

Expand Area Under Management by Balancing Market Presence and Micro Market Penetration.

Enhance Average Revenue Per Square Feet Through an Integrated Workspace Solutions Ecosystem.

Become a Preferred Workspace Outsourcing Solutions Partner for Enterprises.

How To Apply for Indiqube Spaces Ltd IPO Online?

Step 1:

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Indiqube Spaces Ltd IPO?

Indiqube Spaces Ltd's IPO offers shares for up to 650 It begins on Jul 23, 2025 and ends on Jul 25, 2025.

What is the price of the Indiqube Spaces Ltd IPO?

The price of Indiqube Spaces Ltd IPO ranges between ₹225 to ₹237 per share.

What are the open and close dates for the Indiqube Spaces Ltd IPO?

The Indiqube Spaces Ltd IPO opens on Jul 23, 2025 and closes on Jul 25, 2025.

When will the Indiqube Spaces Ltd IPO be allotted?

The allotment for the Indiqube Spaces Ltd IPO will be finalised on Jul 28, 2025. The shares will be listed on BSE and NSE on Jul 30, 2025.

What is the minimum lot size required for Indiqube Spaces Ltd IPO?

The minimum lot size for Indiqube Spaces Ltd IPO is 63 shares, priced between ₹225 to ₹237 per share.

What is the GMP of Indiqube Spaces Ltd IPO?

The GMP (Grey Market Premium) of Indiqube Spaces Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Indiqube Spaces Ltd IPO?

To check the allotment status of Indiqube Spaces Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Indiqube Spaces Ltd IPO getting listed?

The Indiqube Spaces Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 23, 2025, and closes on Jul 25, 2025. The allotment is finalised on Jul 28, 2025.

How do you apply for the Indiqube Spaces Ltd IPO?

To apply for the Indiqube Spaces Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.