Bengaluru-based Indiqube Spaces Ltd.'s initial public offering worth Rs 700 crore is scheduled to open on Wednesday. The mainboard IPO includes a fresh issue of shares worth Rs 650 crore and an offer-for-sale portion of Rs 50 crore. The IPO will open for subscription on July 23 and close on July 25.
The price band for the Indiqube Spaces IPO has been fixed between Rs 225 and Rs 237 per share. The IPO lot size is 63 shares.
Retail investors need to apply for at least a single lot size, amounting to a minimum investment of Rs 14,175. For small non-institutional investors or NIIs, the minimum application size is 14 lots (882 shares) worth Rs 2,09,034. For big NIIs, the minimum bid size is 67 lots (4,221 shares), amounting to Rs 10,00,377.
Indiqube Spaces has set aside 88,41,773 shares, or 29.94%, of the net issue for Qualified Institutional Buyers or QIBs. The company will allocate 29,47,257 shares (9.98%) to the retail segment and 44,20,885 shares (14.97%) to NIIs. The company is also offering 63,291 shares to its employees.
ICICI Securities is the lead manager for this IPO. MUFG Intime India (earlier Link Intime) is the issue registrar.
Shares of Indiqube Spaces Ltd. are tentatively scheduled to be listed on the NSE and BSE on July 30.
IPO Details
Issue opens: July 23.
Issue closes: July 25.
Issue price: Rs 225-237.
Fresh issue: Rs 650 crore.
Offer for sale: Rs 50 crore.
Lot size: Minimum 63 shares.
Business
Incorporated in 2015, Indiqube Spaces focuses on offering sustainable and modern workspace solutions. The company, previously known as Innovent Spaces Pvt., started its operations in Uttar Pradesh. It subsequently shifted to Bengaluru, following a resolution passed by the shareholders in 2018.
Use Of Proceeds
The company plans to use Rs 462.65 crore from the IPO proceeds to establish new centres. Around Rs 93 crore is allocated for partial or full repayment of borrowings. The remaining amount will be used for general corporate purposes.
Financial Performance
The company reported a revenue of Rs 1,102.93 crore in FY25, marking a 27% increase compared to Rs 867.66 crore in FY24. Its losses narrowed from Rs 341.51 crore in FY24 to Rs 139.62 crore in FY25.
GMP
The grey market premium for Indiqube Spaces IPO stood at Rs 32 per share at 7 a.m. on July 22. With the upper price band for the IPO set at Rs 237 apiece, the GMP indicates an estimated listing price of Rs 269 per share, according to InvestorGain. The current GMP trends show an estimated listing gain of 13.5% over the upper limit of the issue price.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.
Also Read: IndiQube Spaces Files For Rs 850-Crore IPO
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