Bengaluru-based workspace provider IndiQube Spaces has secured a robust ₹314.3 crore from anchor investors by allotting shares at the top of its IPO band ₹237 per share just ahead of its ₹700 crore public listing, which opens for subscription July 23–25.
Why This Matters
- The anchor round drew marquee investors like Aditya Birla Sun Life, Motilal Oswal, Bandhan, WhiteOak, Invesco, Malabar, Max Life, Edelweiss, and global entities like BNP Paribas Financial Markets, Citigroup, and Societe Generale.
- Domestic mutual funds alone were allocated 67% of the 1.32 crore anchor shares—showing strong institutional confidence.
Company Snapshot
- Operating since 2015, IndiQube manages 103 centres across 13 cities, offering 8.4 million sq ft of workspace to 769 clients, including major corporates and GICs.
- FY25 revenue reached ₹1,103 crore, up 35% from FY23, with EBITDA at ₹660 crore and RoCE near 34%.
- The IPO will raise ₹650 crore in fresh capital and ₹50 crore via promoter OFS. Funds will support capex, debt repayment, and general corporate purposes.
Market Context
- Positioned in the co-working and managed office solutions sector, IndiQube joins peers like Awfis and Smartworks heading to public markets.
- With stable demand for workspaces, reduced losses, and consistent growth, the anchor round provides early validation ahead of listing.
Strategic Takeaway:
IndiQube’s anchor subscription highlights institutional conviction in its business model and growth prospects. With solid FY25 numbers and backing from top mutual funds and global investors, it heads into its IPO season with momentum.
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