IndiQube Spaces IPO booked 79% so far on day 1: Check price band, lot size and key details to consider

IndiQube Spaces IPO: Workplace solutions company IndiQube Spaces' initial public offering hit the primary market on Wednesday, July 23. The issue will end on July 25. The price range has been fixed at ₹225 to ₹237 per share, and a lot includes 63 shares.

The company seeks to raise ₹700 crore via fresh issuance of shares worth ₹650 crore and an offer for sale aggregating to ₹50 crore by promoters Rishi Das and Meghna Agarwal. WestBridge Capital, a significant investor in the company since 2018, is not offloading any stake in the OFS.

IndiQube Spaces IPO: Subscription

The initial share sale has been subscribed 79% until 4:24 pm, as it received bids for 1,35,79,146 shares as against 1,71,48,335 shares on offer, according to data on NSE.

Before the IPO, the company mobilised ₹314.32 crore from anchor investors, including Aditya Birla Sun Life Mutual Fund (MF), Bandhan MF, Motilal Oswal MF, WhiteOak MF, Edelweiss MF, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius, TOCU Europe III S.A R.L., and Societe Generale.

The firm allocated 13,262,658 equity shares to 29 funds at the upper price band of ₹237 apiece.

IndiQube Spaces IPO: Allotment and listing date

The basis of allotment of IndiQube Spaces IPO is likely to be finalised on July 28, while the company's shares are likely to be listed on the NSE and the BSE on July 30.

ICICI Securities and JM Financial are the issue's book running lead managers, while MUFG Intime India is the registrar.

About

It serves 769 clients, including Enphase, Myntra, NoBroker, Siemens, Juspay, Moglix, upGrad, Perfios, Ninjacart, Narayana Health and Allegis.

On the financial front, the company recorded a total income of ₹1,103 crore in the financial year 2024-25, reflecting a CAGR of 35% from fiscal 2023.