IPO-bound IndiQube raises Rs 314 Cr from Anchor Investors

IndiQube Spaces, a Managed workspace solutions provider, has raised Rs 314.3 crore from anchor investors, with the company allotting shares at Rs 237 apiece, the upper end of its IPO price band, ahead of its public issue opening on July 23.

Anchor investors bought 1.3 crore equity shares of the company at INR 237 each.

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Eight domestic mutual funds, through 21 schemes, picked up 89.2 lakh shares of IndiQube, investing a total of Rs 211.7 crore. These included groww, Edelweiss, BNP Paribas, Aditya Birla Sun Life and Motilal Oswal.

Other anchor investors included Axis Max Life Insurance, Societe Generale, Invesco and Whiteoak.

The IPO includes a fresh issue of Rs 650 crore and a Rs 50 crore offer for sale by promoters Rishi Das and Meghna Agarwal. It will be open for subscription from July 23 to July 25, with a price band of Rs 225-237 per share. The shares are likely to be listed on July 30.

WestBridge Capital, which owns a 27.95% pre-IPO stake through its affiliates, is not selling any shares in the offer.

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About IndiQube

Founded in 2015 by Rishi Das and Meghna Agarwal, IndiQube, a company that provides fully managed office spaces with design, interiors, and tech-enabled services, is preparing for its IPO.

In FY25, its operating revenue grew by 28% to ₹1,059.3 Cr, up from ₹830.6 Cr last year. The company also reduced its net loss by 60% to ₹139.6 Cr. Its EBITDA for the year was ₹660 Cr.