Indiqube Spaces Lists At 9% Discount To IPO Price On Dalal Street Debut — Details Here
The stock opened at Rs 216 on the National Stock Exchange, a 8.8% discount to its issue price of Rs 237. On the BSE, the stock debuted at Rs 218.70, a 7.7% discount.
Shares of Indiqube Spaces Ltd. listed at a 9% discount to its IPO price on market debut on Wednesday.
The stock opened at Rs 216 on the National Stock Exchange, a 8.8% discount to its issue price of Rs 237. On the BSE, the stock debuted at Rs 218.70, a 7.7% discount.
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 opened for bidding last 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.
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.
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.
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.
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