IndiQube Spaces Limited to Launch IPO on July 23, Raises Rs 700 Crores

Strategic Insights -

IndiQube Spaces Limited, a workplace solutions provider, is set to launch its Initial Public Offering (IPO) on July 23, with a total issue size of Rs 700 crores. The IPO will open for anchor investors on July 22 and close on July 25. The company's promoters, Rishi Das and Meghna Agarwal, will be offloading shares worth Rs 25 crores each during the IPO. The IPO proceeds will be used to fund capex for new centers, repay debt, and meet general corporate purposes.

Key Takeaways:

  • IndiQube Spaces Limited is launching its IPO on July 23, with a total issue size of Rs 700 crores.
  • The IPO will open for anchor investors on July 22 and close on July 25.
  • Promoters Rishi Das and Meghna Agarwal will offload shares worth Rs 25 crores each.
  • The IPO proceeds will be used to fund capex for new centers (Rs 462.6 crores), repay debt (Rs 93 crores), and meet general corporate purposes.
  • IndiQube Spaces Limited manages a portfolio of 8.40 million square foot across 115 properties in 15 cities, with a total seating capacity of 186,719.
  • The company reported a total income of Rs 1,103 crores in fiscal 2025, with a CAGR of 35% from Fiscal 2023.
  • IndiQube Spaces Limited's EBITDA stood at Rs 660 crores in FY25, with an RoCE of 34.21% and cash EBIT margins of 10.81%.
  • The company has a diverse client mix, including Enphase, Myntra, Zerodha, NoBroker, upGrad, and others.
  • WestBridge Capital has been a key investor in the firm since 2018, leading two funding rounds that raised a total equity of Rs 324 crores.

Statistics:

  • Rs 700 crores: Total issue size of IndiQube Spaces Limited's IPO.
  • Rs 250 crores: Amount to be raised by promoters Rishi Das and Meghna Agarwal.
  • Rs 462.6 crores: Proposed use of fresh issue towards funding capex for new centers.
  • Rs 93 crores: Proposed use of fresh issue towards repaying debt.
  • 8.40 million square foot: Portfolio size of IndiQube Spaces Limited across 115 properties in 15 cities.
  • 186,719: Total seating capacity of IndiQube Spaces Limited.
  • Rs 1,103 crores: Total income of IndiQube Spaces Limited in fiscal 2025.
  • 35%: CAGR of IndiQube Spaces Limited's total income from Fiscal 2023.
  • Rs 660 crores: EBITDA of IndiQube Spaces Limited in FY25.
  • 34.21%: RoCE of IndiQube Spaces Limited in FY25.
  • 10.81%: Cash EBIT margins of IndiQube Spaces Limited in FY25.
  • 86.50%: Occupancy rate of IndiQube Spaces Limited in steady state centers.

Sources:

  • Red Herring Prospectus (RHP) of IndiQube Spaces Limited.
  • Economic Times.
  • Times Content.