Indiqube Spaces IPO: The IPO of Indiqube Spaces, which concluded recently, is set to debut on the Indian stock exchanges on Wednesday, July 30. The issue received a healthy response from all categories of investors during its bidding period between July 23 and July 25, resulting in an overall subscription of 13 times.
The issue received a total of bids for 21.16 crore as against the 1.62 crore shares offered, with QIBs showing strong interest as their portion booked at 15.12 times, followed by retail investors, whose portion was subscribed by 13.28 times, and the NII portion, which was booked at 8.68 times.
Given the healthy demand, investor focus has now shifted to potential listing gains, typically gauged by the grey market premium (GMP). According to market sources, the company’s shares are commanding a healthy GMP of ₹06 ahead of listing.
Based on the company’s issue price of ₹237 and the current GMP, the estimated listing price of Indiqube Spaces stands at ₹243 per share, 2.53% above the issue price. The grey market premium indicates investors’ willingness to pay a premium over the IPO price.
The mainboard IPO, valued at ₹700 crore, is a combination of a fresh issue of 2.74 crore shares aggregating to ₹650 crore and an offer for sale of 0.21 crore shares aggregating to ₹50 crore.
The company shares are scheduled to list on both NSE and BSE exchanges on Wednesday, and the company proposed to use the proceeds from the issue towards funding capital expenditure towards the establishment of new centers, repayment and prepayment, in full or in part, of certain borrowings availed by the company, and general corporate purposes.
About Indiqube Spaces
The company provides managed, sustainable, and tech-driven workplace solutions, aiming to transform the traditional office experience for modern businesses. It offers diverse workplace solutions, including corporate hubs and branch offices, enhancing employee experience with interiors, amenities, and services.
Indiqube Spaces integrates asset renovation, customized models, and B2B/B2C value-added services, offering comprehensive workspace solutions with plug-and-play offices for clients and employees, and manages a portfolio of 115 centers across 15 cities, consisting of 105 operational centers and 10 centers for which the company has executed letters of intent, covering 8.40 million square feet of area under management in a super built-up area (“SBA”) with a total seating capacity of 186,719 as of March 31, 2025.
Between March 31, 2023, and March 31, 2025, they added 41 properties and expanded to five new cities, as per the company’s RHP.
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