<p>New Delhi, Jul 18 Workplace solutions company IndiQube Spaces on Friday fixed a price band of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO).</p>.<p>The IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The bidding for anchor investors will open for a day on July 22, the company announced.</p>.<p>At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore.</p>.<p>The company is raising Rs 650 crore through issuance of fresh issue and promoters would offload shares worth Rs 50 crore under the offer for sale (OFS).</p>.<p>WestBridge Capital, a key investor in the firm since 2018, is not divesting any stake in the OFS.</p>.<p>IndiQube Spaces proposes to utilise the fresh issue to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and rest for general corporate purposes.</p>.<p>The company, which was incorporated in 2015, manages a portfolio of 8.40 million sqft across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025. This was a growth from 74 centres and 4.94 million sq ft in March 2023.</p>.<p>IndiQube serves 769 clients of which 44 per cent clients are global capability centres. The company follows an enterprise-first strategy owing to which 63 per cent of its occupied area comes from clients who have leased over 300 seats. Further, 44 per cent of its revenue is generated from multi-centre clients. Its diverse client mix includes Enphase, Myntra, Zerodha, NoBroker, upGrad, Siemens, Juspay, Perfios, Moglix, Ninjacart, Narayana Health, and Allegis to name a few.</p>.<p>On the financial front, the company reported a total income of Rs 1,103 crore in FY25, recording a CAGR of 35 per cent from FY23.</p>.<p>The company raised a total of Rs 324 crore in two funding rounds during 2018 and 2022. WestBridge Capital led the investment with Rs 190 crore, followed by Rs 131 crore from the promoters, and the rest came from angel investor Ashish Gupta.</p>.<p>The company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.</p>.<p>ICICI Securities and JM Financial are book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and the NSE.</p>
<p>New Delhi, Jul 18 Workplace solutions company IndiQube Spaces on Friday fixed a price band of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO).</p>.<p>The IPO of the Bengaluru-based firm will open for public subscription on July 23 and conclude on July 25. The bidding for anchor investors will open for a day on July 22, the company announced.</p>.<p>At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore.</p>.<p>The company is raising Rs 650 crore through issuance of fresh issue and promoters would offload shares worth Rs 50 crore under the offer for sale (OFS).</p>.<p>WestBridge Capital, a key investor in the firm since 2018, is not divesting any stake in the OFS.</p>.<p>IndiQube Spaces proposes to utilise the fresh issue to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and rest for general corporate purposes.</p>.<p>The company, which was incorporated in 2015, manages a portfolio of 8.40 million sqft across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025. This was a growth from 74 centres and 4.94 million sq ft in March 2023.</p>.<p>IndiQube serves 769 clients of which 44 per cent clients are global capability centres. The company follows an enterprise-first strategy owing to which 63 per cent of its occupied area comes from clients who have leased over 300 seats. Further, 44 per cent of its revenue is generated from multi-centre clients. Its diverse client mix includes Enphase, Myntra, Zerodha, NoBroker, upGrad, Siemens, Juspay, Perfios, Moglix, Ninjacart, Narayana Health, and Allegis to name a few.</p>.<p>On the financial front, the company reported a total income of Rs 1,103 crore in FY25, recording a CAGR of 35 per cent from FY23.</p>.<p>The company raised a total of Rs 324 crore in two funding rounds during 2018 and 2022. WestBridge Capital led the investment with Rs 190 crore, followed by Rs 131 crore from the promoters, and the rest came from angel investor Ashish Gupta.</p>.<p>The company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.</p>.<p>ICICI Securities and JM Financial are book-running lead managers to the issue. The equity shares are expected to be listed on July 30 on the BSE and the NSE.</p>