IndiQube Spaces IPO
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Schedule of IndiQube Spaces
| Issue open date | 23 Jul 2025 |
| Issue close date | 25 Jul 2025 |
| UPI mandate deadline | 25 Jul 2025 (5 PM) |
| Allotment finalization | 28 Jul 2025 |
| Refund initiation | 29 Jul 2025 |
| Share credit | 29 Jul 2025 |
| Listing date | 30 Jul 2025 |
| Mandate end date | 11 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 27 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 26 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About IndiQube Spaces
Incorporated on January 14, 2015, as “Innovent Spaces Private Limited,” the company, now known as “Indiqube Spaces Limited,” specialises in providing flexible and innovative workspace solutions. Initially based in Uttar Pradesh, it relocated its registered office to Karnataka in 2018. The company focuses on creating modern office environments, catering to businesses seeking adaptable and sustainable workspace options.
Financials of IndiQube Spaces
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹700 crores |
| Fresh Issue | ₹650 crores |
| Offer for sale | ₹50 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 462.65 (71.17%) |
| Repayment/pre-payment of outstanding borrowings | 93.04 (14.31%) |
| General corporate purposes |
Strengths
- Strong acquisition strategy focused on value creation.
- Leading player in India’s flexible workspace market.
- Experienced leadership with a solid investor base.
- Focus on green building ecosystems.
- Capital-efficient model with risk mitigation.
Risks
- Sensitive to real estate market fluctuations affecting leasing costs and profitability.
- Reliance on third parties for materials and interior enhancements may impact operations.
- Shifts in work culture, like remote working, could reduce demand for office spaces.
- Fixed expenses during low demand can adversely affect financial condition.
- Ability to pay future dividends depends on earnings, financial condition, and financing terms.
Allotment Status for IndiQube Spaces
To check your allotment status – click here.
Subscription Figures for IndiQube Spaces
As per media reports (Link), the Grey Market Premium (GMP) of IndiQube Spaces is reported at ₹5 lower than the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on July 25, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 88.41 | 132.10 | 1.49x |
| NII | 44.20 | 85.59 | 1.9x |
| Retail | 29.47 | 215.85 | 7.32x |
| Employees | 0.69 | 3.30 | 4.78x |
| Total | 162.79 | 436.86 | 2.6x |