<p>Bengaluru: Bengaluru-based managed workplace solutions startup IndiQube Spaces Limited has filed the draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).</p>.<p>The IPO of the company comprises a fresh issue of equity shares aggregating up to Rs 750 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 100 crore by the promoter selling shareholders, Rishi Das and Meghna Agarwal.</p>.<p>IndiQube is backed by venture capital firm WestBridge Capital and individual investor Ashish Gupta.</p>.EV maker Greaves Electric Mobility files IPO papers with SEBI; aims to raise Rs 1,000 crore.<p>The company proposes to utilise the net proceeds of the fresh issue towards funding capital expenditure towards establishment of new centres (Rs 462.6 crore), repayment or prepayment, in full or in part, of certain borrowings (Rs 100 crore) availed by the company, and general corporate purposes.</p>.<p>IndiQube Grow is the company’s core offering which represents a solution for plug and play workspaces. It has four additional verticals: IndiQube Bespoke, IndiQube One, MiQube and IndiQube Cornerstone to service specialised requirements.</p>.<p>It reported a total income of Rs 867.6 crore in the financial year 2023-24 (FY24). Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) in FY24 stood at Rs 263.4 crore, while for the first quarter of FY25, the EBITDA was Rs 153 crore.</p>.<p>The company, founded in 2015, manages a portfolio of 103 centers across 13 cities, covering 7.76 million square feet (msf) of area under management (AUM) in super built-up area with a total seating capacity of 172,451 as of June 30.</p>.<p>In Bengaluru, IndiQube has 60 centres spanning 5.04 msf in AUM.</p>.<p>Bengaluru is the largest commercial office and flexible workspace market in India currently. It also houses the largest number of global capability centres (GCCs) in India, which also make up part of IndiQube’s clientele. </p>.<p>This IPO joins a long list of managed workplace IPOs in 2024 such as Awfis and more planned, including DevX, Table Space, Smartworks, WeWork India, Simpliwork and Bhive amongst others, several of which are based in Bengaluru.</p>.<p>The book running lead managers to the offer are ICICI Securities Limited and JM Financial Limited.</p>
<p>Bengaluru: Bengaluru-based managed workplace solutions startup IndiQube Spaces Limited has filed the draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).</p>.<p>The IPO of the company comprises a fresh issue of equity shares aggregating up to Rs 750 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 100 crore by the promoter selling shareholders, Rishi Das and Meghna Agarwal.</p>.<p>IndiQube is backed by venture capital firm WestBridge Capital and individual investor Ashish Gupta.</p>.EV maker Greaves Electric Mobility files IPO papers with SEBI; aims to raise Rs 1,000 crore.<p>The company proposes to utilise the net proceeds of the fresh issue towards funding capital expenditure towards establishment of new centres (Rs 462.6 crore), repayment or prepayment, in full or in part, of certain borrowings (Rs 100 crore) availed by the company, and general corporate purposes.</p>.<p>IndiQube Grow is the company’s core offering which represents a solution for plug and play workspaces. It has four additional verticals: IndiQube Bespoke, IndiQube One, MiQube and IndiQube Cornerstone to service specialised requirements.</p>.<p>It reported a total income of Rs 867.6 crore in the financial year 2023-24 (FY24). Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) in FY24 stood at Rs 263.4 crore, while for the first quarter of FY25, the EBITDA was Rs 153 crore.</p>.<p>The company, founded in 2015, manages a portfolio of 103 centers across 13 cities, covering 7.76 million square feet (msf) of area under management (AUM) in super built-up area with a total seating capacity of 172,451 as of June 30.</p>.<p>In Bengaluru, IndiQube has 60 centres spanning 5.04 msf in AUM.</p>.<p>Bengaluru is the largest commercial office and flexible workspace market in India currently. It also houses the largest number of global capability centres (GCCs) in India, which also make up part of IndiQube’s clientele. </p>.<p>This IPO joins a long list of managed workplace IPOs in 2024 such as Awfis and more planned, including DevX, Table Space, Smartworks, WeWork India, Simpliwork and Bhive amongst others, several of which are based in Bengaluru.</p>.<p>The book running lead managers to the offer are ICICI Securities Limited and JM Financial Limited.</p>