Indiqube Spaces IPO, which opened for subscription from July 23 to July 25, is all set to make its stock market debut on Wednesday, July 30. The shares of Indiqube Spaces IPO will be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The allotment of Indiqube Spaces was out on July 28. The shares were successfully credited to the demat accounts on July 29.
The Indiqube Spaces IPO witnessed robust investor interest across all segments. The offering was oversubscribed by 12.41 times, attracting significant demand from both institutional and retail investors.
In terms of category-wise subscription, the Qualified Institutional Buyers (QIB) segment was subscribed 14.35 times, while the Retail Individual Investors (RII) portion received 12.90 times the number of shares on offer.
The Non-Institutional Investors (NII) portion was subscribed 8.27 times. Against the 1.71 crore shares offered by the company, it received bids for over 21.24 crore shares.
Indiqube Spaces IPO GMP today
The GMP of Indiqube Spaces IPO has dropped from +5 to +1, as per investorgain. This means that the shares of Indiqube Spaces IPO is trading at a premium of ₹1 in the grey market.
The estimated listing price of Indiqube Spaces IPO is likely to be ₹238, which is 0.42 per cent higher than the IPO price of ₹237.
Indiqube Spaces IPO listing review
According to Mahesh M. Ojha, AVP Research and Business development, Hensex Securities Pvt Ltd, Indiqube Spaces is expected to list at a 2–3 per cent premium, backed by strong demand and an asset-light flex workspace model.
“ The valuation seems slightly rich but justified given sector growth. Long-term investors may hold with a close watch on occupancy and margins. We may see a Good premium on listing day, expected good listing gain of 25-30 per cent short investor can book partial profit ( As Per GMP 90-95 ), while long-term investors should wait for 2–3 quarters of earnings visibility before averaging,” Ojha said.
Meanwhile, Gaurav Goel, Founder & Director at Fynocrat Technologies believes that Indiqube Spaces IPO is likely to be flat or slightly positive.
“Despite good subscription numbers, market sentiment before the listing is a bit cautious. This is mainly because of concerns around the company’s profitability and whether the IPO price offers enough value. The IPO was priced at a valuation of around 26 times EV/EBITDA, which is higher than many listed peers. So, a big jump in the stock price after listing looks unlikely.
Even though investor response was positive, the listing may be flat or only slightly positive. Long-term success will depend on how well Indiqube can turn profitable and expand beyond its current stronghold in Bengaluru,” said Goel.
Indiqube Spaces IPO details
Indiqube Spaces successfully raised ₹700 crore through its IPO, priced at the upper end of the ₹225– ₹237 per share range. The issue consisted of a fresh allotment of 2.74 crore equity shares worth ₹650 crore, along with an offer-for-sale (OFS) of 21.09 lakh shares totaling ₹50 crore. Each share carried a face value of ₹1.
The IPO followed the typical allocation structure — 75% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors (RIIs).
Proceeds from the fresh issue are earmarked to fuel the company’s future growth plans, specifically for expanding its operational presence, meeting ongoing working capital requirements, and addressing general corporate purposes.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
