Indiqube Spaces Limited - IPO
MAINBOARDIndiqube Spaces IPO Details
Indiqube Spaces IPO Dates
- 23 Jul 2025Opening dateOPD
- 25 Jul 2025Closing dateCOD
- 28 Jul 2025Basis of AllotmentBOA
- 29 Jul 2025Initiation of RefundsIOR
- 29 Jul 2025Credit of SharesCOS
- 30 Jul 2025Listing dateLID
Indiqube Spaces IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retain Minimum | 1 | 63 | ₹14,931 |
| Retain Maximum | 13 | 819 | ₹194,103 |
| SHNI Minimum | 14 | 882 | ₹209,034 |
| SHNI Maximum | 66 | 4158 | ₹985,446 |
| BHNI Minimum | 67 | 4221 | ₹1,000,377 |
Indiqube Spaces IPO Reservation
Promoter Holding
Documents
Indiqube Spaces IPO Valuations
Indiqube Spaces Limited Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 4,685.12 | 3,667.91 | 2,969.32 |
| Revenue | 1,102.93 | 867.66 | 601.28 |
| Profit After Tax | 139.62 | -341.51 | -198.11 |
| EBITDA | 660.19 | 263.42 | 258.23 |
| Net Worth | -3.11 | 130.63 | -308.10 |
| Reserves and Surplus | -23.30 | 129.44 | -308.28 |
| Total Borrowing | 343.96 | 164.02 | 623.16 |
| Amount in ₹ Crore | |||
About Indiqube Spaces IPO
Incorporated in 2015, Indiqube Spaces Limited provides managed, sustainable, and tech-driven workplace solutions, aiming to transform the traditional office experience for modern businesses.
The company offers diverse workplace solutions, including corporate hubs and branch offices, enhancing employee experience with interiors, amenities, and services.
The company integrates asset renovation, customized models, and B2B/B2C value-added services, offering comprehensive workspace solutions with plug-and-play offices for clients and employees.
The company manage a portfolio of 115 centres across 15 cities, consisting of 105 operational centres and 10 centres for which the company have executed letters of intent, covering 8.40 million square feet of area under management (“AUM”) in a super built-up area (“SBA”) with a total seating capacity of 186,719 as of March 31, 2025.
Between March 31, 2023, and March 31, 2025, they added 41 properties and expanded to five new cities.
The company focuses on acquiring full buildings in high-demand areas with strong infrastructure and low vacancy rates. They partner with landlords to lease and transform aging properties into modern, sustainable workspaces.
The company upgrades properties with interiors, amenities, and sustainability. As of March 31, 2025, 25.22%% of their portfolio is renovated. Their "enterprise-first" strategy serves large clients with long-term, scalable workspaces.
As of March 31, 2025, the company operates in 15 Indian cities, including seven Tier I cities (Bengaluru, Pune, Chennai, Mumbai, Noida, Gurugram, Hyderabad) and 11 non-Tier I cities (Coimbatore, Kochi, Madurai, Jaipur, Calicut, Vijayawada).
Offerings:
- IndiQube Grow:The company offers customized enterprise workspaces and co-working solutions with shared amenities. They provide meeting rooms, day passes, and virtual office services, with flexible bookings and tailored options for clients through digital channels.
- IndiQube Bespoke: IndiQube Bespoke offers fully customizable office designs with standard, premium, and luxury options. The company provides sustainable, eco-friendly solutions, with an in-house team for design, project management, and maintenance, offering flexible financial arrangements.
- IndiQube One: The company offers technology-enabled property and facility management services, including maintenance, asset management, employee services, IT solutions, and green initiatives, all aligned with ISO certifications to ensure quality, safety, and sustainability.
- MiQube™ Workplace Technology Stack: The company’s technology stack enhances workspace efficiency and engagement. The MiQube™ Community App offers employees easy access to services like booking meeting rooms, transportation, meals, desk reservations, helpdesk requests, and community events.
As of June 30, 2024, the company has a diverse team of 625 permanent employees.
Strength Of Indiqube Spaces IPO
1. One of the Leading Players in the Large and Growing Flexible Workspace Market in India.
2. Acquisition Strategy with a Focus on Value Creation and Demand-Driven Locations.
3. Prudent Business Management Practices with Strong Operational Metrics.
4. Capital Efficient Model with Resilience and Comprehensive Risk Mitigation.
5. Experienced Leadership and Prominent Investor Base.
6. Focussed on Fostering an Ecosystem of Green Buildings.
Risk Of Indiqube Spaces IPO
1. For Fiscals 2025, 2024 and 2023, 88.84%, 91.82% and 93.18% of our revenue from operations, respectively, was derived from our centers in Bengaluru, Pune and Chennai collectively. Any adverse developments affecting our centers in these locations, could have an adverse effect on our business, results of operations and financial condition.
2. Our business is sensitive to real estate market fluctuations and we have witnessed a decline in our occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024; changes in commercial property prices can significantly impact our leasing costs, which may adversely affect our profitability.
3. We have experienced losses in the last three Fiscals and we may continue to incur losses in the future which could have an adverse effect on our business, results of operations and cash flows.
4. If we are unable to pay the lease rentals to our lessors, our business, results of operations and financial condition may be adversely affected.
5. The lease agreements with our landlords and certain of our agreements with our clients are required to be stamped in accordance with the relevant state stamp duty legislation and registered under the Registration Act, 1908. Any failure to register and/or appropriately pay stamp duty on such agreements may affect our ability to enforce such agreements.
6. We do not own the properties where our centers are located. Any defect in the title and ownership of such properties may result in our centers being shut down, result in relocation costs for us and termination of our client agreements, which may adversely impact our business, results of operations and financial condition.
7. Our value-added services may not achieve desired growth and yield desired returns. Further, provision of value-added services poses operational risks as it includes rendering services at high quality standards at our centers. A failure to manage such risks could have an adverse impact on our business, results of operations, cash flows and financial condition.
8. Our asset transformation and management solutions services are exposed to development and construction risks, which may have an adverse impact on our business, results of operations, cash flows and financial condition.
9. We are dependent upon third parties for supply of raw materials and effectuating interior enhancement. Any defaults or delays by these third parties may have an adverse impact on our business, results of operations, cash flows and financial condition.
10. While our business has grown rapidly in the past, we may not be successful in managing our growth effectively, which could have an adverse effect on our business, results of operations, cash flows and financial condition.
Objectives Indiqube Spaces IPO
1. Funding capital expenditure towards establishment of new centers
2. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company
3. General corporate purposes
Company Contact Details
Indiqube Spaces Ltd.
Plot # 53, Careernet Campus,
Kariyammanna Agrahara Road, Devarabisanahalli,
Outer Ring Road,
Bengaluru, Karnataka, 560103
Phone: +91 99000 92210
Email: cs.compliance@indiqube.com
Website: http://www.indiqube.com/
Registrar Contact Details
Lead Mangers
Jm Financial Limited
ICICI Securities Limited