Overview

• Shares of IndiQube Spaces Ltd opened at ₹216 on NSE, an 8.8% discount to the ₹237 issue price, and at ₹218.70 on BSE, a 7.7% discount.
• The ₹700-crore issue priced between ₹225 and ₹237 per share attracted an overall subscription of 12.41 times, driven by QIBs at 14.35 times, retail investors at 12.90 times, NIIs at 8.27 times and employees at 6.83 times.
• Grey market premiums plunged from initial levels of ₹20–30 to about ₹2 per share ahead of listing.
• About ₹462.65 crore of IPO proceeds will fund new centre openings, ₹93 crore is earmarked for debt repayment and the balance will support general corporate purposes.
• In FY25, IndiQube boosted revenue by 27% to ₹1,102.93 crore and narrowed losses to ₹139.62 crore from ₹341.51 crore.