Indiqube Spaces Ltd.

INDIQUBE

Equity

BSE,NSE

Min. Investment

2,25,000.00

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IPO Details

Bidding Dates

23 Jul 25 - 25 Jul 25

Lot Size

63

Price Range ₹

225 - 237

Exchange Status

BSE,NSE

Total Equity

0.00Cr

IPO Doc

IPO Timeline

Offer start

23 Jul 2025

Offer end

25 Jul 2025

Allotment

28 Jul 2025

Refund initiation

29 Jul 2025

Demat transfer

29 Jul 2025

Listing

30 Jul 2025

About Company

Indiqube Spaces Ltd., incorporated in 2015, is a leading provider of managed, tech-driven, and sustainable workspace solutions in India. The company is revolutionizing the traditional office environment with a portfolio of 115 centers across 15 Indian cities, covering 8.4 million sq. ft. and 186,719 seating capacity as of March 31, 2025. Indiqube’s business model targets both large enterprises and startups, offering plug-and-play offices, customized workspaces, and facility management services. It operates under different verticals like Indiqube Grow, Indiqube Bespoke, Indiqube One, and its proprietary MiQube™ technology platform. The company’s portfolio includes renovated and sustainable buildings, reflecting its green building ethos. Its “enterprise-first” strategy focuses on long-term leases with blue-chip clients, with a capital-efficient model that converts aging properties into modern office spaces. Indiqube added 41 new properties and expanded to five new cities between FY 2023 and FY 2025. The company had 625 permanent employees as of March 31, 2025, and is backed by an experienced leadership team and reputable investors.

Year Founded

14-01-2015

Promotor Details

Rishi Das

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage99.380
Share Capital1293770520
0

Project Details

  • Funding capital expenditure towards establishment of new centers - 4626.49cr
  • Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company - 930.35cr

Objectives

  • Funding capital expenditure towards establishment of new centers
  • Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company
  • andGeneral corporate purposes.

Highlights

  • One of the leading managed workspace providers in India with 115 centers in 15 cities.
  • Use of MiQube™ app and smart facility management offers a superior user experience.
  • Focus on sustainability and asset renovation aligns with ESG trends.
  • Significant reduction in losses and strong EBITDA margin of over 58% reflects operational strength.
  • Long-term, scalable workspaces ensure client retention and consistent cash flow.

Challenges

  • Although improving, the company still posted a ₹139.62 Cr loss in FY25.
  • At ₹-3.11 Cr, reflects historical losses and high liabilities.
  • Market cap of nearly ₹5,000 Cr despite losses raises concerns about overvaluation.
  • Ongoing expansion and renovation require significant capital outlay.
  • Borrowings stand at ₹343.96 Cr with past reliance on debt financing, posing interest burden risk.
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