Indiqube Spaces IPO Subscribed 2.54 Times On Day 2, GMP Goes Down
The price band for the Indiqube Spaces IPO has been fixed between Rs 225 and Rs 237 per share.
Workspace solutions provider Indiqube Spaces Ltd.'s initial public offering was subscribed 2.54 times on the second day of bidding on Thursday. On the first day, the IPO was subscribed 87%.
The IPO opened for bidding on Wednesday and will 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 worth Rs 700 crore includes a fresh issue of shares worth Rs 650 crore and an offer-for-sale portion of Rs 50 crore. The IPO lot size is 63 shares.
The company raised Rs 314 crore from anchor investors on Tuesday, July 22, ahead of its IPO opening.
Bengaluru-based Indiqube Spaces proposes to utilise Rs 462.65 crore from the IPO proceeds to establish new centres and around Rs 93 crore is allocated for partial or full repayment of borrowings. Meanwhile, the remaining amount will be used for general corporate purposes.
ICICI Securities is the lead manager for this IPO, while MUFG Intime India is the issue registrar. Shares of Indiqube Spaces 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.
Subscription Status: Day Two
The issue has been subscribed 2.54 times as of 5 p.m.
Qualified institutional buyers: 1.42 times .
Non-institutional buyers: 1.84 times.
Retail investors: 6.9 times.
Portion reserved for employees: 4.47 times.
IPO GMP
The grey market premium for Indiqube Spaces IPO stood at Rs 12, as of 6:01 p.m. on July 24, according to InvestorGain. That implies listing at a 5.06% premium at around Rs 249.
GMP or grey market price is not an official indicator and is based on market speculation.
