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4w ago

IndiQube IPO Draws Strong Anchor Bids as Grey Market Premium Signals 17% Listing Upside

The public offering opens July 23 with investor interest suggesting as much as 17% gains at debut.

Indiqube Spaces IPO
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Indiqube Spaces IPO GMP

Overview

  • The ₹700-crore IPO includes a ₹650-crore fresh issue and a ₹50-crore offer-for-sale at ₹225–237 per share with a minimum lot of 63 shares.
  • IndiQube raised over ₹314 crore from anchor investors at the top of the band as grey market trades at a ₹32–40 premium to the issue price, suggesting 13–17% upside on listing.
  • Public bids can be placed between July 23 and 25, with allotment due on July 28, refunds on July 29 and NSE/BSE listing on July 30.
  • In FY25, revenue climbed 27% to ₹1,102.9 crore while net losses narrowed to ₹139.6 crore amid record demand for flexible workspaces.
  • Proceeds will fund ₹462.6 crore of capex to add 3 million sq ft over three years, allocate ₹93 crore to debt repayment and cover general corporate needs.