NEW DELHI: IndiQube Spaces, a managed workspace solutions provider, has secured over ₹314.32 crore from anchor investors ahead of its initial public offering, with shares priced at ₹237 each, as reported in an exchange filing.
Key investors include Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV, Invesco India ELSS Tax Saver Fund, Motilal Oswal Large Cap Fund, Bandhan Large & Mid Cap Fund, along with others like Max New York Life Insurance, Edelweiss MF, and Citigroup Global Markets Mauritius.
Of the 13.26 million equity shares allocated to anchor investors, 8.93 million shares (67.35%) went to eight domestic mutual funds covering 21 different schemes.
WestBridge Capital, a private equity investor holding a 27.95% pre-offer stake in IndiQube via its group entities, will not be diluting its share during the offer.
Established in 2015, IndiQube has expanded to 8.40 million sq ft across 115 properties in 15 cities, accommodating 1,86,719 seats by March 2025, growing from 4.94 million sq ft across 74 centers in March 2023. Among its 769 clients, 44% are Global Capability Centres, with 63% of occupied space leased to clients requiring over 300 seats.
For FY25, the company reported total income of ₹1,103 crore, an EBITDA of ₹660 crore, and a RoCE of 34.21%. Occupancy rates at steady state centers were recorded at 86.50%. IndiQube paid ₹7.7 crore in income tax for FY24 and ₹8.4 crore in FY25 under IGAAP, and holds a CRISIL A+/Stable rating.
The IPO will open on July 23, 2025, and close on July 25, 2025, with a price range of ₹225–₹237 per share. ICICI Securities and JM Financial are leading the managing team.
