NEW DELHI: IndiQube Spaces’ ₹700-crore initial public offering (IPO) saw full subscription by the second day of bidding, driven by strong interest from retail and non-institutional investors. The IPO, which kicked off on July 23, is set to close on July 25, 2025.
As of 5:04 PM on July 24, the IPO was subscribed 2.68 times overall, with the retail segment oversubscribed at 7.32 times. The employee allocation was subscribed 4.74 times, while the qualified institutional buyer (QIB) section was 1.49 times subscribed. Non-institutional investors (NII) saw a subscription of 1.94 times, with small NIIs bidding at 2.62 times and large NIIs at 1.60 times.
The offering received over 4.36 crore bids against an available 1.62 crore shares, totaling approximately ₹1,035 crore based on the upper price band of ₹237 per share. It includes fresh equity shares with a face value of ₹1 each, priced between ₹225 and ₹237 per share.
Previously, the company secured ₹314 crore from anchor investors including prominent names like Aditya Birla Sun Life MF, Ashoka WhiteOak, Invesco, Bandhan, Motilal Oswal, and Malabar funds. Both foreign and domestic institutions like Max New York Life Insurance, Edelweiss MF, and Citigroup Global Markets Mauritius also participated.
Out of the total 13.26 million shares allocated to anchor investors, 67.35% went to eight domestic mutual funds across 21 schemes.
For FY25, IndiQube reported a total income of ₹1,103 crore, an EBITDA of ₹660 crore, a return on capital employed (RoCE) of 34.21%, and an occupancy rate of 86.5%. Notably, WestBridge Capital, which holds a 27.95% pre-IPO stake, is not diluting its share in this offering.
