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IPO Analysis > indiqube-spaces-ipo-mainboard

 

A Simplified Guide to the Indiqube IPO

India is one of the biggest markets for flexible office spaces in the Asia-Pacific region, with over 72 million square feet of such spaces available in major cities as of the first half of 2024.

Indiqube has been actively growing in this space. Now, the company is launching its IPO.

ICICI Securities and JM Financial Limited are managing the IPO, with MUFG Intime serving as the official registrar.

See the Indiqube IPO RHP for more details. 

Note: The lock-in period for 50% of Smarten Power Systems’ stock concludes 30 days post-allocation, whereas the remaining portion is released from lock-in after 90 days.

Indiqube IPO Details: Company Profile

This is a detailed overview of Indiqube, covering its main features, successes, and future plans in the industry.


Particulars

Details

Established 

2015

Registered Office 

Bengaluru, Karnataka,

Clients

Myntra, Upgrad, Zerodha, Siemens, and more

Products 

Creating modern office environments

Competitors

Awfis Space Solutions


Exploring the Indiqube IPO Details

Here are the details regarding the Indiqube IPO.

  • Indiqube IPO Date

The Brigade Hotel IPO schedule is as follows:


Key Timeline Events 

Date

Opening date of the public issue

23 Jul 2025

Closing date of the public issue

25 Jul 2025

UPI approval cut-off time

5 PM at 25 Jul 2025

Date of allotment finalisation

28 Jul 2025

Refund processing commencement

29 Jul 2025

Equity shares credited to demat accounts

29 Jul 2025

Official listing on the stock exchange

30 Jul 2025

UPI mandate validity expiry

11 Aug 2025

Lock-in expiry for 50% of the anchor investor allocation

27 Aug 2025

Lock-in expiry for the remaining anchor investor allocation

26 Oct 2025


  • Indiqube IPO size

Bengaluru-based Indiqube aims to raise this amount via its IPO


Particulars

Number of Equity Shares

Aggregate Value

Fresh Issue 

Not Disclosed 

₹650 Crores 

Offer for Sale

Not Disclosed 

₹50 Crores 

Overall Issue 

Not Disclosed

₹700 Crores


  • Objectives of the offer

The purpose of raising the money for Indiqube's IPO is mentioned below: 


Purpose of Utilisation

Amount (in ₹ million)

Funding for new centres

4,626.49

Repayment or early payment of certain company borrowings

930.35

General corporate requirements

Not Disclosed


  • Other takeaways from the Indiqube Share Price

Below are the pricing details for the Indiqube IPO.


Particulars

Description

Face value of each share

₹1

Price Range

₹225 – ₹237

Listed At 

NSE and BSE 


  • Categorisation of different investors 

The allocation of allotments among investor categories is detailed below.



Category

Shares Offered

Minimum Bid

Maximum Bid

QIBs

Not Disclosed

In multiples so bid exceeds ₹0.20 million

In multiples, not exceeding Net Offer size

Non-Institutional Investors

Not Disclosed

In multiples so bid exceeds ₹0.20 million

In multiples, up to Offer size limit

Retail Investors

Not Disclosed

Not Disclosed

Bid amount not over ₹0.20 million

Eligible Employees

Up to ₹15.00 million in shares

Not Disclosed

Bid not over ₹0.50 million (net of discount)



To participate in an IPO, you are required to have a demat account. But first compare various brokers and then open an account to submit your bid.

Indiqube IPO details: Key Financials 

Here are the company's main financial numbers. They show how stable the company is financially.


Particulars

As at and for the Financial Year Ended 31 March 2025

31 March 2024

31 March 2023

Equity Share Capital

130.18

1.83

1.83

Instruments Fully Classified as Equity

71.69

10.10

Other Equity

-232.98

1,294.40

-3,082.84

Retained Earnings

-9,254.40

-7,843.94

-4,426.58

Securities Premium

3,038.21

3,228.15

1,308.43

Employee Stock Options Outstanding Account

225.22

152.20

35.31

Other Reserves

5,757.99

5,757.99

Total Borrowings

3,439.58

1,640.20

6,231.61

Revenue from Operations

10,592.86

8,305.73

5,797.38

Total Income

11,029.31

8,676.60

6,012.75

Loss After Tax

-1,396.17

-3,415.08

-1,981.09

Net Worth

-31.11

1,306.33

-3,081.01

Net Asset Value 

-0.24

10.03

-23.77



Metrics of Indiqube IPO 



Particulars

As at/for the fiscal ended March 31, 2025

As at/for the fiscal ended March 31, 2024

As at/for the fiscal ended March 31, 2023

Total income growth (%)

27.12%

44.30%

NA

Revenue from operations growth (%)

27.54%

43.27%

NA

Loss after tax as % of total income

-12.66%

-39.36%

-32.95%

EBITDA margin (before loss on fair value of financial liabilities) (%)

58.20%

59.63%

60.19%


Strengths and risks

Here's information about Indiqube Limited, including its strengths and risks.


Strengths

  • Backed by strong investors and an experienced leadership team

  • Leading name in India’s office space industry

  • Actively adopts green building practices

  • Grows through smart acquisitions that create value

Risks

  • If real estate prices go up, leasing costs can hurt profits

  • Relying on outside vendors for materials and interiors could slow things down

  • Has to bear fixed costs even when office demand is low

  • Future dividend payments depend on how well the company earns and manages money

IPO Closing Soon: Is Indiqube IPO Worth the Rush?

The Indiqube IPO is expected to list at a higher price because its Grey Market Premium (GMP) is ₹23 today, July 24, 2025. More pricing details have been mentioned above for a better Indiqube IPO review. 


You can now apply for the Indiqube IPO through your broker.

FAQs

1. What is the GMP Indiqube IPO?
The Indiqube Spaces IPO GMP shows how much buyers are willing to pay over the issue price. Current Indiqube Spaces Limited IPO GMP is ₹23 per share.

2. What is the Indiqube IPO listing date?
The Indiqube IPO opening is scheduled on 23 July 2025 and closing will be on 25 July 2025. Investors can apply within this period through their broker or online trading platforms.

3. What is the Indiqube IPO price?
The Indiqube Spaces Limited Share Price has been fixed at ₹225 - ₹237 per share. This is the price at which investors can apply to purchase the shares.

4. What is the Indiqube IPO valuation?
Based on the price band and number of shares offered, Indiqube’s estimated IPO size is around ₹700 Crores.

5. Do I need a Demat account to apply for the Indiqube IPO?
Yes, a Demat account is mandatory to apply for an Indiqube IPO. It allows you to hold the shares electronically and is available through any SEBI-registered broker or app.