| IndiQube Spaces IPO Review | IndiQube Spaces IPO Subscription |
| IndiQube Spaces Peer Comparison Analysis | IndiQube Spaces IPO Allotment |
IndiQube Spaces IPO Description – IndiQube Spaces is a managed workplace solutions company that offers comprehensive, sustainable and technology-driven workplace solutions to transform the traditional office experience. Its solutions range from large corporate offices (hubs) to small branch offices (spokes) for enterprises and transform the workplace experience of the employees by combining interiors, amenities and a host of value-added services (“VAS”). IndiQube Spaces complements its solutions through backward and forward integration capabilities.
IndiQube manages a portfolio of 115 centers across 15 cities, covering 8.40 million square feet of area under management (“AUM”) in super built-up area (“SBA”) with a total seating capacity of 1,86,719 as of 31 March 2025. The company added 3.46 million square feet of AUM with 41 properties and 5 new cities between 31 March 2023 and 31 March 2025. In Bengaluru, IndiQube has a portfolio of 65 centers spanning 5.43 million square feet in AUM as of 31 March 2025.
Promoters of IndiQube Spaces – Rishi Das, Meghna Agarwal, and Anshuman Das
Table of Contents
IndiQube Spaces IPO Details
| IndiQube Spaces IPO Dates | 23 – 25 July 2025 |
| IndiQube Spaces IPO Price | INR 225 – 237 per share Employee Discount – INR 22 per share |
| Fresh issue | INR 650 crore |
| Offer For Sale | INR 50 crore |
| Total IPO size | INR 700 crore |
| Minimum bid (lot size) | 63 shares (INR 14,931) |
| Face Value | INR 1 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
IndiQube Spaces Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 579.74 | 830.57 | 1,059.29 |
| Expenses | 829.21 | 1,252.48 | 1,260.23 |
| Net income | (198.11) | (341.51) | (139.62) |
| Margin (%) | (34.17) | (41.12) | (13.18) |
IndiQube Spaces Offer News
- IndiQube Spaces RHP
- IndiQube Spaces DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
IndiQube Spaces Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue)* | |
| EPS | (15.28) | (26.09) | (7.65) | (8.86) |
| PE Ratio | – | – | – | – |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | NA | (261.43) | NA |
| NAV | (23.77) | 10.03 | (0.24) |
| ROCE (%) | 15.66 | 38.52 | 34.21 |
| EBITDA (%) | 44.54 | 31.72 | 62.32 |
| Debt/Equity | (2.02) | 1.26 | (110.58) |
IndiQube Spaces IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 29 July 2025 | 6 | – | 400 |
| 28 July 2025 | 6 | – | 400 |
| 26 July 2025 | 6 | – | 400 |
| 25 July 2025 | 10 | – | 600 |
| 24 July 2025 | 18 | – | 800 |
| 23 July 2025 | 25 | – | 1,200 |
| 22 July 2025 | 40 | – | 2,000 |
| 21 July 2025 | 40 | – | 2,000 |
| 19 July 2025 | 40 | – | 2,000 |
IndiQube Spaces IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding capital expenditure towards the establishment of new centers – INR 462.65 crore
- Repayment and/ or pre-payment, in part or full, of certain borrowings availed by the company – INR 93.04 crore
- General corporate purposes
IndiQube Spaces IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Shares Offered | 93,13,334 | 46,56,666 | 31,04,444 | 73,891 | 1,71,48,335 |
| 25 Jul 2025 | 14.35 | 8.24 | 12.55 | 6.56 | 12.33 |
| 24 Jul 2025 | 1.42 | 1.84 | 6.90 | 4.47 | 2.54 |
| 23 Jul 2025 | 0.06 | 0.78 | 3.41 | 2.83 | 0.87 |
1,32,62,658 shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
IndiQube Spaces – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| IndiQube Spaces | – | (7.65) | NA | (0.24) | 1,102.93 |
| Awfis Space | 66.66 | 9.67 | 14.78 | 64.71 | 1,260.75 |
IndiQube Spaces IPO Allotment Status
IndiQube Spaces IPO allotment status is now available on MUFG Intime’s website. Click on the MUFG Intime IPO weblink to get allotment status.
IndiQube Spaces IPO Dates & Listing Performance
| IPO Opening Date | 23 July 2025 |
| IPO Closing Date | 25 July 2025 |
| Finalization of Basis of Allotment | 28 July 2025 |
| Initiation of refunds | 29 July 2025 |
| Transfer of shares to demat accounts | 29 July 2025 |
| IndiQube Spaces IPO Listing Date | 30 July 2025 |
| Opening Price on NSE | INR 216 per share (down 8.86%) |
| Closing Price on NSE | INR 217.97 per share (down 8.03%) |
IndiQube Spaces IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi – Subscribe for long term
Antique Stock Broking –
Ajcon Global –
Arihant Capital – Subscribe for listing gains
Axis Capital –
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities –
Choice Broking – Subscribe for long term
DR Choksey – Neutral
Elara Capital –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities – Subscribe
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities –
Jainam Broking – Subscribe for listing gain
Kunwarji Wealth – Subscribe for long term
DRChoksey – Neutral
Marwadi Financial – Subscribe
Motilal Oswal –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Avoid
SBI Securities – Avoid
SMC Global – 1/5
SMIFS – Subscribe
Systematix Research –
Swastika Investmart –
Ventura Securities – Not rated
IndiQube Spaces Offer Lead Manager
ICICI SECURITIES LIMITED
ICICI Venture House, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025 Maharashtra, India
Phone: +91 22 6807 7100
Email: [email protected]
Website: www.icicisecurities.com
IndiQube Spaces Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com
IndiQube Spaces Contact Details
INDIQUBE SPACES LIMITED
Plot #53, Careernet Campus, Kariyammanna Agrahara Road,
Devarabisanahalli, Outer Ring Road, Bengaluru – 560 103, Karnataka
Phone: +91 99000 92210
Email: [email protected]
Website: www.indiqube.com
IndiQube Spaces IPO FAQs
How many shares in the IndiQube Spaces IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply for the IndiQube Spaces Public Offer?
The best way to apply for the IndiQube Spaces public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is the IndiQube Spaces IPO GMP today?
IndiQube Spaces IPO GMP today is INR 6 per share.
What is the IndiQube Spaces kostak rate today?
IndiQube Spaces kostak rate today is INR NA per application.
What is the IndiQube Spaces Subject to Sauda rate today?
IndiQube Spaces Subject to Sauda rate today is INR 400 per application.