IndiQube Spaces Ltd., a workplace solutions provider, has announced the price band for its upcoming ₹700-crore initial public offering (IPO), which will open for subscription on July 23 and close on July 25.
The company has set the price band between ₹225 and ₹237 per share, and investors can bid for a minimum of 63 shares and in multiples thereafter.
The IPO consists of a fresh issue of shares worth ₹650 crore and an offer for sale (OFS) of ₹50 crore, where promoters Rishi Das and Meghna Agarwal will offload shares worth ₹25 crore each.
Utilisation of proceeds
Proceeds from the fresh issue will be used as follows:
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₹426.6 crore towards capital expenditure
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₹100 crore for debt repayment
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Remaining funds for general corporate purposes
Company profile and growth
Founded in 2015, IndiQube offers a workplace technology platform — MiQube, which facilitates booking meeting rooms, ordering meals, and more. In FY25, the platform crossed 1 million transactions.
IndiQube manages 103 centers across 13 cities, covering 7.76 million sq. ft. of area and offering 172,451 seats. Between March 2022 and June 2024, the company added 41 properties and expanded into five new cities.
The company reported a 27% growth in revenue and a 59% surge in profit after tax (PAT) between FY24 and FY25.
Key dates
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Anchor investor bidding: July 22
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IPO subscription: July 23–25
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Allotment finalisation: July 28
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Tentative listing date: July 30 on BSE & NSE
ICICI Securities is the book-running lead manager, while MUFG Intime India (Link Intime) is the registrar for the issue.
