Particle.news
Download on the App Store
18 ARTICLES
·
4w ago

Indiqube IPO Subscription Surges, Grey Market Signals 4–10 Percent Listing Gain

Subscription closes today on a sharply bid three-day Rs 700 crore IPO whose grey market premium implies a 4–10 percent listing gain

Indiqube Spaces IPO GMP
Image
Indiqube Spaces IPO opens today: Should you subscribe to it?
Image

Overview

  • Indiqube Spaces’ three-day Rs 700 crore IPO closes July 25 after drawing a 3.10 times overall subscription, led by an 8.65 times oversubscription in the retail segment
  • Grey market trades range from Rs 10 to Rs 23 per share above the issue price band of Rs 225–237, pointing to a 4–10 percent potential pop at the expected July 30 listing
  • The offer includes a Rs 650 crore fresh issue and a Rs 50 crore promoter offer-for-sale, supported by Rs 314 crore anchored on July 22
  • Net proceeds will fund Rs 462.65 crore in new centre capex, allocate Rs 93 crore to debt repayment and cover general corporate purposes
  • ICICI Securities and JM Financial are book-running lead managers, MUFG Intime India is registrar, and shares are slated to debut on BSE and NSE on July 30