IndiQube Spaces IPO Will Open On July 23, 2025 And Close On July 25, 2025.The ₹ 700.00 Cr. IPO Is A Book Build Issue, Consisting Entirely of A Fresh Issue and offer for Sale . IndiQube Spaces IPO Price Band Is Set At ₹225 to ₹237 Per Share.
The Allotment will Be Finalized On Mon, July 28, 2025 and Listing date is Expected on The NSE BSE By Wed, July 30, 2025. Investor Quota like 50% QIB, 35% Retail, and 15% HNI Category.
Financial Year 2025 Company Posted a Revenue of ₹1,102.93 Cr. and A Net Profit of ₹139.62 Cr. Showing Strong Growth From The Previous Year. Based On Financial, The IPO Looks Promising For Long-term Investors.
About IndiQube Spaces Limited
Our Company was originally incorporated on January 14, 2015 as s o “Indiqube Spaces Private Limited“ We are a managed workplace solutions company offering comprehensive, sustainable, and technology-drivenworkplace solutions dedicated to transforming the traditional office experience.
our diverse solutions range from providing large corporate offices (hubs, i.e., the main office of our clients wherein key functions, leadership teams, and primary
operations are based, and is typically located in a central or strategic area) to small branch offices (spokes, i.e., smaller, decentralized office spaces of our clients spread across different cities or regions) for enterprises and transforming the workplace experience of their employees by combining interiors.
operations are based, and is typically located in a central or strategic area) to small branch offices (spokes, i.e., smaller, decentralized office spaces of our clients spread across different cities or regions) for enterprises and transforming the workplace experience of their employees by combining interiors.
amenities and a host of valueadded services which are incremental to the workspace leasing provided by us and comprise amenities, green initiatives, designed interiors, B2B and B2C solutions ranging from facility management, sale of goods, asset maintenance and plantation to catering, and transportation services for the employees of our clients and technologyapplications, through contracts with clients occupying the space within our centers or third-party clients (“VAS”).
We complement our solutions through backward and forward integration capabilities.
While backward integration focuses on asset renovation, upgradation and customized build-to-suit models, forward integration enables us to provide business-to-business (“B2B”) and business-to-customer (“B2C”) VAS to clients and their employees.
These, coupled with our core offering of plug and play offices, enable us to serve the workspace value chain comprehensively.
We manage a portfolio of 115 centers across 15 cities, consisting of 105 operational centres and 10 centres for which we have executed letters of intent, covering 8.40 million square feet of area under management (“AUM”) in super built-up area (“SBA”) with a total seating capacity of 186,719 as of March 31, 2025.
Our client base comprises mid-to-large enterprise clients, with a focus on those requiring scalable solutions across multiple centers and cities.
Our clients include GCCs, Indian corporates, unicorns as well as startups across sectors such as information technology/information technology enabled services, manufacturing, automotives, engineering, aviation, banking, financial services and insurance, consulting, e-commerce, educational technology, logistics, pharmaceuticals, and healthcare.
IndiQube Spaces IPO Dates & Price Band Details
| IPO Open Date | July 23, 2025 |
|---|---|
| IPO Close Date | July 25, 2025 |
| IPO Price Band | ₹225 to ₹237 per share |
| Face Value | ₹1 per equity share |
| Lot Size | 63 Shares |
| Minimum Investment | ₹14,931 Thousand (for 1 lot at ₹237) |
| IPO Issue Type | Book Built Issue |
| IPO Issue Size | 2,95,35,864 shares (Approx ₹700.00 Cr) |
| Fresh Issue | 2,74,26,160 shares (Approx ₹650.00Cr) |
| Offer For Sale | 21,09,704 shares (Approx ₹50.00Cr) |
| Employees Discount | ₹22 per equity share |
| Retail Investor Quota | 35% |
| QIB Quota | 50% |
| NII (HNI) Quota | 15% |
| Listing Exchange | NSE BSE |
| Anchor Investor List | Click Here |
| DRHP (Draft Prospectus) | Click Here |
| RHP (Final Prospectus) | Click Here |
IndiQube Spaces IPO Market Lot Size
The Minimum Lot Size For The IndiQube Spaces IPO is 63 Shares, Requiring An Application Amount of ₹14,931 For Retail Investors. Investors Must Apply in Multiples of The Lot Size.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 63 | ₹14,931 |
| Retail Maximum | 13 | 819 | ₹1,94,103 |
| S-HNI Minimum | 14 | 882 | ₹2,09,034 |
| B-HNI Minimum | 68 | 4,284 | ₹10,15,308 |
Objects Of The Issue
1. Funding capital expenditure towards establishment of new centers;
2. Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company; and
3. General corporate purposes.
2. Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company; and
3. General corporate purposes.
IndiQube Spaces IPO Allotment & Listing Dates
IndiQube Spaces IPO Will Open on July 23, 2025 and Close on Friday, July 25, 2025 . The allotment is Expected on Monday, July 28, 2025, With the Listing Scheduled on NSE BSE For Wednesday, July 30, 2025 (More information below table).
| Anchor Investor Bidding | Tue,July 22,2025 |
|---|---|
| IPO Opens | Wed, July 23, 2025 |
| IPO Closes | Fri, July 25, 2025 |
| Allotment Finalisation | Mon, July 28, 2025 |
| Refunds / Unblocking | Tue, July 29, 2025 |
| Shares Credited to Demat | Tue, July 29, 2025 |
| Listing Date | Wed, July 30, 2025 |
IndiQube Spaces IPO Financial Report (FY 2025)
IndiQube Spaces Reported a total Revenue of ₹1,102.93 Cr. in FY 2025, Slightly up From ₹867.66 Cr. in FY 2024. The Company Net Profit Also Rose to ₹139.62 Cr. From ₹-341.51 Cr. in the Previous Year Showing Consistent Financial Growth Ahead of its IPO. (More information below table).
| 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 |
IndiQube Spaces IPO Valuation Report – FY 2025 (KPI)
Check Detailed IndiQube Spaces IPO Valuation Metrics for FY 2025, including EPS, P/E Ratio, RoNW, NAV, ROCE, and other key financial indicators. These Ratios help Investors Assess the Company financial Health & Valuation Before applying for The IPO. (More information below table).
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 34.21% |
| Return on Capital Employed (ROCE) | 42.30% |
| EBITDA Margin | N/A |
| PAT Margin | -12.66% |
| Debt-to-Equity Ratio | -110.58 |
| Earnings Per Share (EPS) | (7.65) |
| Price to Earnings Ratio (P/E) | –30.98 |
| Return on Net Worth (RoNW) | NA |
| Net Asset Value (NAV) | (0.24) |
Qualitative Factors
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.
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.
Our Company Promoters
- Rishi Das
- Meghna Agarwal
- and Anshuman Das
Comparison With Industry Peers
| Name of the Company | Face Value (Per share) | CMP July 16, 2025 | EPS (Rs) | P/E Ratio | RONW (%) | NAV (Rs. Per share) | Revenue from operatio ns (in ₹ million) |
| Indiqube Spaces Limited | 1.00 | - | (7.65) | (30.98) | NA | (0.24) | 11,029.31 |
| Awfis Space Solutions Limited | 10.00 | 610.95 | 9.75 | 63.18 | 14.78 | 65.97 | 12,075.35 |
IndiQube Spaces Company Contact Details
Office: Unit No. 305-310, Plot No 9, 10 and 11,
Vardhman Trade Centre, Nehru Place,
South Delhi, Delhi – 110 019, India
Tel: +91 83840 62876
E-mail: companysecretary@sworks.co.in.
Website: www.smartworksoffice.com
IndiQube Spaces Lead Manager
ICICI Securities Limited
ICICI Venture House, Appasaheb Marathe
Marg,Prabhadevi, Mumbai 400 025
Maharashtra, India
Tel.: (+91 22) 6807 7100
E-mail: indiqube.ipo@icicisecurities.com
Website: www.icicisecurities.com
JM Financial Limited
7th Floor, Cnergy, Appa Saheb Marathe
Marg Prabhadevi, Mumbai 400 051
Maharashtra, India
Tel.: (+91 22) 6630 3030
E-mail: indiqube.ipo@jmfl.com
Website: www.jmfl.com
IndiQube Spaces IPO Registrar
MUFG Intime India Private Limited
(Formerly Link Intime India Private Limited)
C-101, 247 Park L.B.S. Marg, Vikhroli (West)
Mumbai – 400 083 Maharashtra, India
Telephone: +91 8108114949
E-mail: smartwork.ipo@in.mpms.mufg.com
Website: www.in.mpms.mufg.com
IndiQube Spaces IPO FAQs
Question 1: What is the IndiQube Spaces IPO?
Answer 1: IndiQube Spaces IPO is a Mainboard IPO of 7,000.00 equity shares of the face value of ₹1 approximately up to ₹ 700 Cr. The issue is price at ₹225 to ₹237 per share.
The IndiQube Spaces IPO opens on 23 July 2025 and closes on 25 July 2025.
MUFG Intime India Private Limited is the registrar for the IPO. The shares to be listed on NSE BSE.
Question 2: How to apply in IndiQube Spaces IPO through Groww?
Answer 2: Groww customers can apply online in IndiQube Spaces IPO using UPI as a payment gateway. Groww customers can apply in IndiQube Spaces IPO by login into Groww (back office) and submitting an IPO application form.
Steps to apply in IndiQube Spaces IPO through Groww –
- Visit the Groww website and login to Groww.
- Go to Main Page and click the Products & tools and click IPO tab.
- New page Open and Show ‘IndiQube Spaces IPO’ click the ‘Apply’ button.
- Show IPO detail Shares lot Size and Bid Price & click here to Cutoff Price check Box and Continue.
- Inter Your UPI id like . 95****299@kotak accept terms and condition click Box and Apply For IPO
- groww share payment link Your UPI Mobile Number Pay Payment for IPO Bid to approve the e-mandate successfully submit application .
Question 3: When IndiQube Spaces IPO will open?
Answer 3: The IndiQube Spaces IPO opens on July 23, 2025 and closes on July 25, 2025.
Question 4: What is the lot size of IndiQube Spaces IPO?
Answer 4: IndiQube Spaces IPO lot size and the minimum order quantity is 63 Shares.
Question 5: How to apply for IndiQube Spaces IPO?
Answer 5: You can apply in IndiQube Spaces IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Groww, Zerodha, Upstox, 5Paisa, Phonepe Share Market, HDFC Bank, and Angel one.
Question 6: When is IndiQube Spaces IPO allotment date?
Answer 6: The Basis of Allotment for IndiQube Spaces IPO will be on Mon, July 28, 2025, and the allotted shares will be credited to your demat account by , Tue, July 29, 2025. For Check the IndiQube Spaces IPO allotment status.
Question 7: When is IndiQube Spaces IPO listing date?
Answer 7: The IndiQube Spaces IPO listing date is 30 July 2025. The date of IndiQube Spaces IPO listing on Wed, July 30, 2025.
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