The much-awaited Indiqube Spaces IPO opens for public subscription tomorrow, July 23, 2025. As India’s flexible workspace market continues to grow, Indiqube Spaces is set to make a major debut worth ₹700 crore, attracting interest from institutional investors and retail participants alike. Here’s a simple, reader-focused guide covering subscription dates, price band, GMP, financials, strengths, risks, and the application process for the Indiqube Spaces IPO.
Key Indiqube Spaces IPO Dates & Details
- IPO Opens: July 23, 2025
- IPO Closes: July 25, 2025
- Listing Date: Tentatively July 30, 2025
- Price Band: ₹225–₹237 per share
- Lot Size: 63 shares per lot
- Face Value: ₹1 per share
- Issue Size: ₹700 crore (₹650 crore fresh issue + ₹50 crore OFS)
- Listing Exchange: BSE & NSE
- Registrar: MUFG Intime India Pvt. Ltd. (formerly Link Intime)
What is Indiqube Spaces?
Founded in 2015, Indiqube Spaces Limited offers managed and technology-enabled office solutions for India’s dynamic businesses—ranging from startups to large enterprises. With 115 centers across 15 cities and an area under management of 8.4 million square feet, it’s considered one of India’s flexible workspace leaders. The company creates sustainable, customizable work environments, and has a strong focus on value creation and technology integration.
Company Highlights
- Anchor Investors: Raised ₹314.3 crore from 29 marquee institutional investors, including Tocu Europe, BNP Paribas, Societe Generale, Invesco, Motilal Oswal, and several top domestic funds.
- Growth: Revenue increased to ₹1,102.93 crore in FY25 (27% growth over previous year).
- Workspace Portfolio: 115 centers in 15 major cities; 1.86 lakh seat capacity.
- Use of IPO Proceeds: Establishing new centers, reducing debt, and funding general corporate purposes.
GMP & Market Response
Ahead of opening, the Indiqube Spaces IPO is trading at a grey market premium (GMP) of ₹31–32 per share—about 13% above the upper price band. This indicates solid investor interest but remember that GMP is speculative and may fluctuate until listing.
Also Read How to Apply for IPO Online in 2025: Complete Step-by-Step Guide
Financial Performance Snapshot
| Financial Metric | FY25 | FY24 |
|---|---|---|
| Revenue | ₹1,102.93 cr | ₹867.66 cr |
| Net Profit/Loss | -₹139.62 cr | -₹341.51 cr |
| Assets | ₹4,685.12 cr | ₹2,969.32 cr |
| Net Worth | -₹3.11 cr | — |
| Reserves & Surplus | -₹23.3 cr | — |
Key Takeaway: Despite operating losses, Indiqube has narrowed its loss margin and is showing robust revenue growth, a common trait among fast-scaling tech-enabled workspace providers.
Strengths and Risks
Strengths:
- Strong acquisition strategy and value creation.
- Experienced leadership team and backing by reputed investors.
- Large, diversified office space portfolio.
- Focus on scalable, sustainable workspaces and green buildings.
Risks:
- Sensitive to real estate market and work culture changes (remote/hybrid trends).
- Heavy dependence on continued demand for flexible workspaces.
- Ongoing losses and negative net worth, though trends are improving.
- High fixed costs may stress finances during market downturns.
How to Apply for Indiqube Spaces IPO
Applying for the Indiqube Spaces IPO online is quick and secure:
- Log in to your broker or bank’s trading/investment platform.
- Go to the IPO section and select ‘Indiqube Spaces IPO.’
- Enter the number of lots (minimum: 63 shares per lot) and choose your bid price (₹225–₹237; most retail investors choose the cutoff/maximum price).
- Provide your UPI ID for payment authorization (or use net banking via ASBA).
- Review all details and submit your application. Approve the payment mandate in your UPI app before the 5 PM deadline on July 25, 2025.
- Application status and allotment can be tracked using your application number after July 28, 2025.
Tip: Pre-apply early to beat potential last-minute rush. All payments for non-allotted shares are automatically refunded.
Should You Invest?
The Indiqube Spaces IPO brings exposure to India’s booming managed office sector. The positive GMP and solid institutional backing show robust interest, but as with all IPOs, consider your risk profile and study the company’s detailed prospectus before investing. Revenue growth is strong, but profitability remains a concern. If you believe in the long-term demand for flexible workspaces in India, Indiqube Spaces can be an attractive play.
Consult with your financial advisor for personalized investment advice.