IndiQube Spaces shares surged sharply on April 16, hitting the 20% upper circuit after the company announced a significant ₹52 crore workspace deal with a leading Japanese e-commerce giant in Bengaluru.
The stock was trading at ₹185.48, up ₹30.91 or 20%, locking in the upper circuit, with strong buying interest seen across the counter.
According to the company’s exchange filing, IndiQube has signed a ₹52 crore managed workspace agreement spanning approximately 35,000 sq. ft. at Outer Ring Road, Bengaluru, for a tenure of five years. The deal is aimed at supporting the client’s India operations through a fully managed, enterprise-grade workspace solution.
The announcement comes at a time when India’s flexible office space market continues to expand rapidly, with total flex office stock crossing 100 million sq. ft., driven by strong demand from global capability centres (GCCs), especially in sectors such as e-commerce and technology.
Management highlighted that Bengaluru remains a key hub for global enterprises, with the Outer Ring Road corridor emerging as a preferred location due to its strong infrastructure, connectivity, and access to skilled talent.
Commenting on the development, CEO Rishi Das noted that the deal reflects how global companies are increasingly viewing managed workspaces as strategic enablers of growth, collaboration, and operational efficiency rather than just physical infrastructure.
The transaction also strengthens IndiQube’s positioning in the fast-growing managed workspace segment, where GCC clients already account for over 40% of its portfolio.
The sharp rally in IndiQube shares reflects investor optimism around the company’s growth prospects, backed by rising demand for flexible workspaces and increasing participation from multinational clients.