Workspace solutions provider Indiqube Spaces Ltd.'s initial public offering was subscribed 12.41 times on the final day of bidding on Friday. The IPO was subscribed 2.54 times on the second day and 87% on the first day.
The IPO opened for bidding on Wednesday. The price band for the Indiqube Spaces IPO was between Rs 225 and Rs 237 per share.
The IPO worth Rs 700 crore included a fresh issue of shares worth Rs 650 crore and an offer-for-sale portion of Rs 50 crore. The IPO lot size was 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 Three
The issue has been subscribed 12.41 times as of 7 p.m.
Qualified institutional buyers: 14.35 times.
Non-institutional buyers: 8.27 times.
Retail investors: 12.9 times.
Portion reserved for employees: 6.83 times.
IPO GMP
The grey market premium for Indiqube Spaces IPO stood at Rs 5, as of 4:33 p.m. on July 25, according to InvestorGain. That implies a potential listing at 2.11% premium at around Rs 242 per share.
GMP or grey market price is not an official indicator and is based on market speculation.
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