Today, July 23, 2025, marks the highly anticipated opening of the IndiQube Spaces Limited Initial Public Offering (IPO). The tech-driven workplace solutions company aims to raise ₹700 crore through this public issue, which will remain open for subscription until July 25, 2025. This IPO is set to list on both the BSE and NSE, promising to be a significant event in the Indian primary market.
IPO Details at a Glance
The IndiQube Spaces IPO is priced in a band of ₹225 to ₹237 per equity share. Of the total ₹700 crore, ₹650 crore will be raised through a fresh issue of 2.74 crore shares, while the remaining ₹50 crore is an Offer for Sale (OFS) of 0.21 crore shares. The company has set the lot size at 63 shares, meaning a retail investor needs a minimum investment of ₹14,931. The tentative allotment date for the IPO is July 28, 2025, with listing expected by July 30, 2025.
Grey Market Premium (GMP) Insights
Ahead of the subscription, the Grey Market Premium (GMP) for IndiQube Spaces IPO stands at ₹33 today. This indicates an expected listing price of approximately ₹270 (₹237 + ₹33), suggesting a potential listing gain of around 14% for investors. This positive sentiment in the grey market reflects a healthy demand for the shares.
Strong Anchor Investor Response
IndiQube Spaces has already demonstrated strong investor confidence by raising over ₹314 crore from anchor investors on July 22, 2025. A total of 29 funds, including prominent names like Aditya Birla Sun Life Mutual Fund, WhiteOak MF, and Motilal Oswal MF, were allocated shares at ₹237 apiece. This robust anchor book provides a positive signal for the IPO’s overall reception.
Company Profile and Future Outlook
Incorporated in 2015, IndiQube Spaces manages a vast portfolio of 115 centres across 15 cities, encompassing 8.40 million square feet of area under management and a seating capacity of 186,719 as of March 2025. The company’s focus on enterprise clients, with 44% of its client base being Global Capability Centres (GCCs), and 63% of its occupied area coming from clients leasing over 300 seats, underscores its robust business model. For fiscal year 2025, IndiQube Spaces reported a total income of ₹1,103 crore, showcasing a Compound Annual Growth Rate (CAGR) of 35% since fiscal 2023. The fresh capital raised through the IPO will primarily fund capital expenditure for new centres and debt repayment, positioning the company for further growth in the dynamic workplace solutions market.