Indiqube Spaces IPO is scheduled to open for subscription on July 23, 2025 and will close on July 25, 2025. The allotment of shares is expected on July 28, 2025, and shares will be credited to investors’ Demat accounts on July 29, 2025. The IPO is likely to list on the BSE and NSE on July 30, 2025. Retail investors need to ensure their UPI mandate is confirmed before 5 PM on July 25, 2025 to avoid rejection.
Indiqube Spaces IPO is a Book Build Issue worth ₹700 crores. This includes a fresh issue of ₹650 crores and an offer for sale worth ₹50 crores. The price band for the IPO is fixed between ₹225 to ₹237 per share. For retail investors, the minimum lot size is 63 shares, requiring an investment of ₹14,175. For small HNI (sNII), the minimum investment is ₹2,09,034 for 882 shares (14 lots), and for big HNI (bNII), it is ₹10,00,377 for 4,221 shares (67 lots). Additionally, 63,291 shares are reserved for employees with a discount of ₹22 per share.
The quota breakup for this IPO is 10% for retail investors, 75% for Qualified Institutional Buyers (QIB), and 15% for High Net-Worth Individuals (HNI). Indiqube Spaces has shown strong financial growth with revenue of ₹1,102.93 crores in 2025, up from ₹867.66 crores in 2024. The company also turned profitable in 2025 with ₹139.62 crores profit, compared to a loss of ₹341.51 crores in 2024.
Considering the company’s improving financial health and business prospects, this IPO can be a good opportunity for long-term investors.
Overview of Contents
About Indiqube Spaces IPO
Indiqube Spaces Limited, started in 2015, is a company that provides modern, managed, and technology-driven workspace solutions to businesses in India. The company focuses on transforming old-fashioned offices into smart, comfortable, and sustainable workspaces by offering fully equipped corporate hubs, branch offices, and co-working spaces with interiors, amenities, and services. Indiqube operates 115 centres across 15 Indian cities, covering 8.40 million square feet with a seating capacity of 1,86,719 as of March 31, 2025.
In the last two years, the company expanded rapidly by adding 41 new properties in five more cities. Their popular offerings include Indiqube Grow for flexible office solutions, Indiqube Bespoke for customizable premium workspaces, and Indiqube One for complete property and facility management.
They also use their MiQube™ technology to make office life easier for employees through digital services like room booking, food orders, and desk reservations. Indiqube mainly focuses on high-demand cities with low vacancy rates and works with landlords to renovate old buildings into modern workplaces. With a team of 625 people and a strong commitment to eco-friendly green buildings and customer satisfaction, Indiqube Spaces Limited is becoming a trusted name in India’s flexible workspace industry.
Indiqube Spaces IPO Overview
| Particulars | Details |
|---|---|
| s | Book Building IPO |
| Face Value per Share | ₹1 each |
| Price Range (Per Share) | ₹225 to ₹237 |
| Minimum Lot Size | 63 Shares per Lot |
| Total Shares Offered | 2,95,35,864 Equity Shares |
| Total Issue Amount | ₹700 Crores (Approx) |
| Fresh Equity Shares | 2,74,26,160 shares (₹650 Cr Approx) |
| Offer For Sale (OFS) | 21,09,704 shares (₹50 Cr Approx) |
| Employee Benefit | ₹22 Discount per Share |
| IPO Listing Platforms | BSE and NSE |
| Pre-Issue Share Capital | 13,01,83,612 Shares |
| Post-Issue Share Capital | 15,76,09,772 Shares |
| Retail Investor Quota | Not More Than 10% |
| Qualified Institutional Buyers (QIB) | Not More Than 75% |
| Non-Institutional Investors (NII) | Not More Than 15% |
Indiqube Spaces IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Indiqube Spaces IPO Dates
| Event | Date & Day |
|---|---|
| IPO Open Date | July 23, 2025 (Wednesday) |
| IPO Close Date | July 25, 2025 (Friday) |
| Basis of Allotment | July 28, 2025 (Monday) |
| Refunds Initiation | July 29, 2025 (Tuesday) |
| Credit to Demat | July 29, 2025 (Tuesday) |
| IPO Listing Date | July 30, 2025 (Wednesday) |
Indiqube Spaces IPO Lot Size
| Investor Category | Lots | Total Shares | Investment Amount (₹) |
|---|---|---|---|
| Retail - Minimum | 1 | 63 | ₹14,931 |
| Retail - Maximum | 13 | 819 | ₹1,94,103 |
| Small HNI - Minimum | 14 | 882 | ₹2,09,034 |
| Small HNI - Maximum | 66 | 4,158 | ₹9,85,446 |
| Big HNI - Minimum | 67 | 4,221 | ₹10,00,377 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Awfis Space Solutions Limited | 9.75 | 66.66 | 14.78% | 64.71 | 1,260.75 Cr. |
Objects of the Issue
- Funding capital expenditure towards establishment of new centers;
- Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company; and
- General corporate purposes.
Indiqube Spaces IPO GMP
- To be updated soon
Indiqube Spaces IPO Promoter Holding
The promoters of Indiqube Spaces Limited are Rishi Das, Meghna Agarwal, and Anshuman Das. Before the IPO, the promoter holding in the company stood at 70.47%, and after the IPO, it will reduce to around 60.23%.
Indiqube Spaces IPO Financial Performance
| Particulars | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Total Assets | 4,685.12 | 3,667.91 | 2,969.32 |
| Revenue | 1,102.93 | 867.66 | 601.28 |
| PAT | 139.62 | -341.51 | -198.11 |
| EBITDA | 660.19 | 263.42 | 258.23 |
| Net Worth | -3.11 | 130.63 | -308.10 |
| Reserves | -23.30 | 129.44 | -308.28 |
| Total Debt | 343.96 | 164.02 | 623.16 |
Indiqube Spaces IPO Valuation (FY 2025)
| Key Metrics (KPI) | Values |
|---|---|
| Return on Equity (ROE) | -% |
| Return on Capital Employed (ROCE) | 34.21% |
| EBITDA Margin | 58.20% |
| PAT Margin | (12.66)% |
| Debt-to-Equity Ratio | – |
| Earnings Per Share (EPS) | ₹ (7.65) (Basic) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | N/A |
| Net Asset Value (NAV) | ₹ (0.24) |
Indiqube Spaces IPO Review
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Indiqube Spaces IPO Registrar
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: indiqubespaces.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Jm Financial Limited
Company 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 IPO FAQs
What is Indiqube Spaces IPO?
Indiqube Spaces IPO is a mainboard IPO where the company aims to raise ₹700 crores through a combination of fresh issue and offer for sale. The IPO will be listed on both BSE and NSE.
When is the Indiqube Spaces IPO scheduled?
The IPO will open on July 23, 2025 (Wednesday) and close on July 25, 2025 (Friday).
What is the price band for Indiqube Spaces IPO?
The price band is set between ₹225 to ₹237 per share.
What is the lot size for Indiqube Spaces IPO?
The minimum lot size for retail investors is 63 shares, requiring an investment of ₹14,931.
How much is reserved for retail investors in Indiqube Spaces IPO?
Retail investors have a 10% reservation in this IPO.
What is the allotment date for Indiqube Spaces IPO?
The basis of allotment is expected on July 28, 2025 (Monday).
What is the listing date for Indiqube Spaces IPO?
The shares are scheduled to be listed on July 30, 2025 (Wednesday) on BSE and NSE.
How to apply for Indiqube Spaces IPO?
Investors can apply through ASBA via their bank account or via UPI through stockbrokers. Offline applications through brokers are also available.
What is the Indiqube Spaces IPO issue size?
The total issue size is ₹700 crores, including a fresh issue of ₹650 crores and an offer for sale of shares worth ₹50 crores.