Indiqube Spaces IPO subscription status: The initial public offering (IPO) of Indiqube Spaces, which kicked off for subscription on Wednesday, July 23, closed today, July 25 with decent demand.
Despite mixed responses from analysts and amid a declining grey market premium, the issue managed to close with strong bids from all segments of investors.
Indiqube Spaces IPO Subscription Status
Following the three-day bidding period, Indiqube Spaces IPO was booked 12.33 times, as it garnered bids for 21,14,96,292 shares as against 1,71,48,335 shares on offer. The retail quota was subscribed 12.55 times, the NII portion received 8.24 times bids while the QIB portion garnered 14.35 times subscription. The employee portion was booked 6.56 times.
Indiqube Spaces IPO GMP
Indiqube Spaces IPO GMP today is ₹5, much lower than the ₹32 it was commanding ahead of the start of the issue. At the prevailing GMP and issue price, Indiqube Spaces IPO shares could list at ₹242, a premium of just 2%.
About Indiqube Spaces IPO
Indiqube Spaces IPO, worth ₹700 crore, was a mix of fresh share sale of ₹650 crore and an offer for sale of ₹50 crore by the promoter selling shareholders. Indiqube Spaces IPO price band was fixed at ₹225 to ₹237 per share. Investors could apply for a minimum of 63 shares in one lot and its multiples thereof.
The company plans to use the funds raised from the fresh share sale for setting up new centres, repayment of certain corporate borrowings availed by the company and general corporate purposes.
The company has reported consistent losses over the past three fiscal years, despite a steady increase in revenue during this period. In FY25, its net loss narrowed to ₹157.3 crore from ₹385 crore in FY24. Meanwhile, revenue rose by 27.5%, reaching ₹1,059 crore compared to ₹831 crore in FY24.
Brokerage Anand Rathi recommended a ‘Subscribe for long-term’ rating while SBI Securities said investors can ‘Avoid’ the issue. DR Choksey had a ‘Neutral’ rating on the IPO, and Arihant Capital had a ‘Subscribe’ tag.
Indiqube Spaces is one of the customised managed workspace solutions offering companies, with a diversified client base. It has a healthy occupancy rate across most of the centres.
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