IndiQube Spaces IPO Upcoming
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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 | ₹850 crores |
| Fresh Issue | ₹750 crores |
| Offer for sale | ₹100 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 462.64 (54.43%) |
| Repayment/pre-payment of outstanding borrowings | 100 (11.76%) |
| General corporate purposes | 287.36 (33.80%) |
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.