IndiQube Initial Public Offering (IPO) set to commence on July 23rd; reduces IPO value by INR 150 crores

IndiQube Initial Public Offering (IPO) set to commence on July 23rd; reduces IPO value by INR 150 crores

IndiQube Spaces Limited, a prominent player in the Real Estate Tech sector, has announced the launch of its Initial Public Offering (IPO) on July 23, 2025. The IPO, worth ₹700 crore (INR 7,000 million), will close on July 25. The price band for the IPO has been fixed between ₹225 and ₹237 per equity share, with each share having a face value of ₹1.

### IPO Size and Structure

The total size of the IPO is ₹700 crore. This includes a fresh issue of ₹650 crore in equity shares and an offer for sale (OFS) of ₹50 crore by promoters Rishi Das and Meghna Agarwal. The retail portion of the issue will account for 10% of the total.

### Utilization of Proceeds

The proceeds from the IPO will be used for various purposes. Approximately ₹462.6 crore will be allocated for setting up new centres and expanding the infrastructure for flexible workspace solutions. Around ₹93 crore will be used for debt repayment, and the remaining proceeds will be used for general corporate purposes and to strengthen growth initiatives.

### Financial Highlights and Company Profile

Based in Bengaluru, IndiQube Spaces boasts a portfolio of 8.40 million sqft across 115 properties in 15 cities. The company caters to 769 clients, including prominent firms such as Enphase, Myntra, and Siemens. With a seating capacity for 186,719 occupants, IndiQube's valuation is nearing ₹5,000 crore, reflecting robust growth in the flexible workspace sector.

Founded in 2015, IndiQube focuses on an enterprise-first strategy and aims to expand its footprint across major Indian cities. The company operates on an asset-light model centered on long-term leases, often 10 years with a 3-year lock-in.

IndiQube has raised $45 Mn from investors like WestBridge Capital, MFV Partners' partner Ashish Gupta, and the company's promoters. The IPO is a key step for IndiQube to fund its expansion and technological infrastructure as it scales its flexible workspace solutions across India.

[1] - Source: Business Standard [2] - Source: Economic Times [3] - Source: Moneycontrol

Investors considering the IndiQube Spaces Limited IPO may find interest in the company's focus on the real-estate sector, as the proceeds from the ₹700 crore offering will be used to set up new real-estate centers and expand infrastructure for flexible workspace solutions. Additionally, the IPO, scheduled for July 23, 2025, is an opportunity for business growth, as a significant portion of the funds raised will be dedicated to strengthening growth initiatives and improving financial standing.

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