Indiqube Spaces IPO GMP In Focus Ahead Of July 23 Launch: Latest Grey Market Premium, Key Dates And More

Karnataka-based Indiqube Spaces Ltd. is going to launch its initial public offering (IPO) worth Rs 700 crore this week. Ahead of the launch, the grey market premium (GMP) for Indiqube Spaces IPO indicates an estimated listing gain of nearly 17%.

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.

The latest grey market premium (GMP) for the Indiqube Spaces IPO stood at Rs 40 per share at 1:30 p.m. on July 21. With the upper price band for the IPO set at Rs 237 apiece, the GMP indicates an estimated listing price is Rs 277 per share, according to InvestorGain. The current GMP trends show an estimated listing gain of 16.88% over the upper limit of the issue price. 

Note: GMP does not represent official data and is based on speculation.

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(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.

The mainboard issue is a combination of a fresh issue of 2.74 crore shares and an OFS portion of 21 lakh shares.

Indiqube Spaces has set aside 88,41,773 shares, or 29.94%, of the net issue for the Qualified Institutional Buyers (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.

The IPO subscription will close on July 25. The company is expected to finalise the share allotment status on July 28. Refunds and transfer of shares to the Demat accounts will be initiated on July 29.

Shares of Indiqube Spaces Ltd. are tentatively scheduled to be listed on the NSE and BSE on July 30.

ICICI Securities is the lead manager for this IPO. MUFG Intime India (earlier Link Intime) is the issue registrar.

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. 

The company plans to use Rs 462.65 crore from the IPO proceeds for establishing 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.

In FY25, Indiqube Spaces reported revenue of Rs 1,102.93 crore, 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.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.