Indiqube Spaces IPO open date is 2025 and the IPO will close on 2025.
The company reported revenue of ₹867.66 crores in 2024 and loss of ₹341.74 crores in 2024.
Indiqube Spaces Limited, originally incorporated as Innovent Spaces Private Limited on January 14, 2015, has evolved into a leading workspace solutions provider headquartered in Bengaluru. Initially based in Uttar Pradesh, the company shifted its registered office to Karnataka in 2020 to align with operational focus.
Furthermore, underwent two name changes, first to Indiqube Spaces Private Limited in 2024 and then to Indiqube Spaces Limited upon conversion into a public limited company on December 17, 2024. The promoters are Rishi Das, Meghna Agarwal, and Anshuman Das, and it is now a well-recognized name in the managed workspaces domain in India.
Indiqube Spaces IPO Details
| IPO Open Date: | 2025 |
| IPO Close Date: | 2025 |
| Face Value: | ₹1 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| Issue Size: | Approx ₹850 Crores |
| Fresh Issue: | Approx ₹750 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 10% |
| QIB Quota: | Not more than 75% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
Market Lot Size of Indiqube Spaces IPO
The Indiqube Spaces IPO minimum market lot is [.] shares with ₹[.] application amount. The retail investors can apply up-to 13 lots with [.] shares of ₹[.] amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
Dates Calendar of Indiqube Spaces IPO
The Indiqube Spaces IPO date is 2025 and the close date is 2025.
| IPO Open Date: | 2025 |
| IPO Close Date: | 2025 |
| Basis of Allotment: | 2025 |
| Refunds: | 2025 |
| Credit to Demat Account: | 2025 |
| IPO Listing Date: | 2025 |
Indiqube Spaces Business Overview
Indiqube Spaces provides customized, tech-enabled, and managed workspace solutions across India. It offers a full-stack real estate platform to startups, scaleups, and enterprises, including services such as built-to-suit office spaces, co-working areas, facility management, and technology integrations.
The company’s revenue comes predominantly from rental and workspace services. As of June 30, 2024, it operated 185 centers with over 112,000 seats in 17 cities, showcasing its strong national footprint. Multi-center clients contribute significantly to revenue, and client retention is high due to low monthly churn rates and robust service quality.
Indiqube Spaces Industry & Market Overview – High-Growth Managed Office Sector in India
The managed workspace industry in India has experienced exponential growth due to increased demand from startups and enterprises seeking flexible office solutions. Indiqube, with a CAGR of 55.36% in revenue from FY22 to FY24, is well-positioned in this rapidly expanding segment. Its direct competitors include players in co-working and customized office infrastructure.
While the DRHP doesn’t list peer market shares, Indiqube’s pan-India presence and technology-backed offerings enhance its competitiveness in a fragmented and opportunity-rich market.
Promoters of Indiqube Spaces IPO
The promoters of the company are Rishi Das, Meghna Agarwal and Anshuman Das.
Company Financial Report Of Indiqube Spaces IPO
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹355.24 | ₹579.24 | ₹188.93 | ₹2,283.79 |
| 2023 | ₹601.28 | ₹829.21 | ₹197.90 | ₹2,969.32 |
| 2024 | ₹867.66 | ₹1,252.48 | ₹341.74 | ₹3,667.91 |
| June 2024 | ₹251.30 | ₹290.60 | ₹42.11 | ₹4,065.74 |
Indiqube Spaces IPO Valuation – FY2024
Check Indiqube Spaces IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | -% |
| ROCE: | 38.52% |
| EBITDA Margin: | 27.25% |
| PAT Margin: | (39.36)% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹(26.09) (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | (261.43)% |
| Net Asset Value (NAV): | ₹10.03 |
Peer Group Comparison
Though direct peer financials are not disclosed in the DRHP, Indiqube’s 55% CAGR in revenue and ~29% EBITDA margin place it in a strong operating position.
However, continued net losses and negative EPS make valuation comparison via P/E or EV/EBITDA challenging. Investors may look at global flexible workspace providers or Indian listed REITs/co-working firms for benchmarking. The IPO pricing details like cap and floor prices are yet to be disclosed.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Awfis Space Solutions Limited | (2.79) | NA | (6.99)% | 127.74 | 874.80 Cr. |
Objects of the Issue
The IPO comprises a ₹7,500 million fresh issue and a ₹1,000 million offer for sale (OFS) by promoters Rishi Das and Meghna Agarwal, each offloading ₹500 million worth of shares. The fresh issue proceeds will be used as follows: ₹4,626.49 million for setting up new centers, ₹1,000 million for repayment/prepayment of borrowings, and the remaining for general corporate purposes. A pre-IPO placement of up to ₹1,500 million may reduce the fresh issue size accordingly.
- Funding capital expenditure towards establishment of new centers;
- Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company; and
- General corporate purposes.
Indiqube Spaces IPO Registrar
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: indiqubespaces.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- Jm Financial Limited
Company Address
Indiqube Spaces Ltd.
Plot # 53, Careernet Campus,
Kariyammanna Agrahara Road, Devarabisanahalli,
Outer Ring Road,
Bengaluru, Karnataka, 560103
Phone: +91 99000 92210
Email: cs.compliance@indiqube.com
Website: http://www.indiqube.com/
Indiqube Spaces IPO FAQs
What is Indiqube’s core business?
Providing tech-enabled managed workspaces across India.
When Indiqube Spaces IPO will open for subscription?
The IPO is to open on 2025 for QIB, NII, and Retail Investors. The IPO will close on 2025.
What is Indiqube Spaces IPO Investors Portion?
The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
What is Indiqube Spaces IPO Issue Size?
Indiqube Spaces IPO issue size is ₹850 crores.
What is Indiqube Spaces IPO Price Band?
Indiqube Spaces IPO Price Band is ₹[.] to ₹[.].
What is Indiqube Spaces IPO Lot Size?
The minimum bid is [.] Shares with ₹[.] amount.
What is the Indiqube Spaces IPO Allotment Date?
Indiqube Spaces IPO allotment date is 2025.
What is the Indiqube Spaces IPO Listing Date?
Indiqube Spaces IPO listing date is 2025. The IPO is to list on BSE & NSE.