Indiqube Spaces IPO
Indiqube Spaces IPO — date, price band, lot size & details 2025
Indiqube Spaces listed on 30 Jul 2025 at ₹216, 8.9% below the ₹237 issue price.
Indiqube Spaces offers managed and technology-driven workplace solutions to enterprises. On 31 March 2025 it managed 115 centres across 15 cities with 8.40 million square feet under management.
Stock price
Indiqube Spaces is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 23 Jul 2025
- Close 25 Jul 2025
- Allotment 28 Jul 2025
- Refund/credit 29 Jul 2025
- Listing 30 Jul 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Jul, 2025 |
|---|---|
| Price Band | ₹225 – ₹237 |
| Face Value | ₹1 |
| Lot Size | 63 Shares |
| Issue Size | ₹700 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 22.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,931 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 63 shares at the ₹237 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 63 | ₹14,931 |
| Retail (max) | 13 | 819 | ₹1,94,103 |
| S-HNI (min) | 14 | 882 | ₹2,09,034 |
| S-HNI (max) | 66 | 4,158 | ₹9,85,446 |
| B-HNI (min) | 67 | 4,221 | ₹10,00,377 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 601.28 crore in FY2023 to Rs 1,102.93 crore in FY2025.
- 02The net loss narrowed from Rs 341.51 crore in FY2024 to Rs 139.62 crore in FY2025.
- 03Rs 650.01 crore of the Rs 700 crore issue was fresh capital.
- 04Rs 462.65 crore of the proceeds was for setting up new centres.
- 05The portfolio had 115 centres and seating capacity of 186,719 on 31 March 2025.
Risks · 7
- 01Net worth was negative at Rs 3.11 crore on 31 March 2025, before the issue.
- 02The company made losses in all three years shown, including Rs 139.62 crore in FY2025.
- 03The source shows the post-issue P/E as negative. The P/E before the issue was negative at 30.98.
- 04Total borrowing rose from Rs 164.02 crore on 31 March 2024 to Rs 343.96 crore on 31 March 2025.
- 05Centres are largely leased, and a fall in office demand would affect the 186,719 seats of capacity.
- 06Shares listed at Rs 216 against the issue price of Rs 237.
- 07Promoters held 70.37% before the issue and held 60.23% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Indiqube Spaces offer document.
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 4,685.12 | 3,667.91 | 2,969.32 |
| Total Income | 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 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Indiqube Spaces RHP.
Where the money goes
₹653.45 Cr of the issue is earmarked to named objects.
Indiqube Spaces IPO Anchor Investors
29 anchor investors across 15 fund houses committed ₹314.32 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
On 31 March 2025 the portfolio had 115 centres across 15 cities. Of these, 105 were operational and 10 were covered by letters of intent.
The area under management was 8.40 million square feet, with total seating capacity of 186,719.
The IPO was Rs 700 crore, with Rs 650.01 crore of fresh issue and Rs 49.99 crore of offer for sale. Rs 462.65 crore was planned for new centres and Rs 93.04 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Indiqube Spaces IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
53 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
ICICI Securities
34 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Indiqube Spaces?
The current Grey Market Premium is ₹1.
What is the Indiqube Spaces IPO price band?
₹225 to ₹237, on a face value of ₹1.
When is the allotment?
The basis of allotment is 28 July 2025, with listing on 30 July 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
