Bengaluru-based managed workspace provider IndiQube Spaces has received the green light from the Securities and Exchange Board of India (SEBI) to raise ₹850 crore through an initial public offering (IPO). The company had submitted its Draft Red Herring Prospectus (DRHP) in December 2024, and SEBI issued an observation letter approving the IPO on March 24, 2025.
The ₹850 crore IPO consists of two components—a fresh issue of ₹750 crore and an offer for sale (OFS) of ₹100 crore. As per the DRHP, IndiQube plans to utilize ₹426.6 crore from the fresh issue for capital expenditure, ₹100 crore for repayment or prepayment of loans, and the remaining funds for general corporate purposes.
Founded by Rishi Das and Meghna Agarwal, IndiQube has emerged as a leading player in India’s flexible workspace sector, catering to startups, enterprises, and multinational corporations. The company has gained substantial backing from WestBridge Capital and notable investor Ashish Gupta, further strengthening its financial position.
IndiQube’s IPO arrives at a time when India’s co-working and managed office space market is witnessing strong demand, driven by a hybrid work culture and an expanding startup ecosystem. With the proposed funding, IndiQube aims to accelerate growth, expand its footprint across key business hubs, and enhance its workspace offerings.
As the company moves closer to its IPO launch, market analysts are keenly observing the pricing and investor sentiment surrounding IndiQube’s public debut.
