Indicbe Spaces IPO: The IPO of Workplace Solutions Company IPO IPO of Indqube Spaces Ltd will be closed for subscription on 25 July today. By 10:19 am today, the issue had received 3.02 times subscription, with bids for 4,92,05,268 shares against the offer of 1,62,79,682 shares. Retail investors share 8.42 times, while non-institutional investors (NIIs) have subscribed 2.45 times. Eligible institutional buyers (QIB) have received 1.49 times subscription. The company aims to raise ₹ 700 crore, including a fresh issue of ₹ 650 crore and ₹ 50 crore by promoters.
The price band of the IPO has been fixed at ₹ 225 to ₹ 237 per share, and the minimum lot size is 63 shares. Retail investors will have to invest a minimum of ₹ 14,175 to bid in this IPO.
What does INDIQOBE Spaces do?
INDIQOBE Spaces is a workspace solutions providing company. As of March 2025, 115 centers in 15 cities and 8.4 million square feet of office spaces. The company was established in 2015 and has served 769 customers, out of which 44% of which are customers Global Capability Center (GCC). The company has a ‘asset-light’ model, in which it changes them into office space by taking property lease. In FY 2025, the company’s revenue was ₹ 1,102.93 crore, which is 27% more than the previous year’s ₹ 867.66 crore. However, the company has recorded a continuous deficit in the last three financial years, the net deficit in FY 2025 was ₹ 139.62 crore. The company will use the capital received from the IPO for setting up new centers, repaying debt and for general corporate purposes.
What is the opinion of brokerage?
The opinion in brokerage houses about IPO is divided. KR Choksi Finserv has given it a ‘neutral’ rating, as he believes the price of IPO is already completely determined. SBI Securities has advised ‘Avoid’. In contrast, Anand Rathi, Arihant Capital, Kunwarji Finstock and SMIFS have given ‘subscribe’ ratings. These brokerage company’s technology-based scalable ‘asset-light’ models emphasize the ability to benefit from the increasing demand for strong customers and flexible workspace. However, the company’s frequent deficit and more debt is a matter of little concern.
How much is the latest GMP?
The gray market premium (GMP) of Ipo is constantly slipping the Ipo of Ipo. On Friday, it has fallen from 5.91% to 4.22%. According to market experts, the company’s unlisted shares are currently trading at ₹ 247, while the upper price of IPO is ₹ 237. This means that the Gmp is ₹ 10, which is 4.22% higher than the issue price. Explain that the first and second day of the bid was Gmp 9.70% and 5.91%. That is, there has been a decline in its gray market price.
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