IndiQube Spaces to Launch ₹700-Crore IPO on July 23 to Fuel Expansion and Debt Repayment

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Managed workspace provider IndiQube Spaces has announced the launch of its ₹700-crore Initial Public Offering (IPO), set to open for public subscription from July 23 to July 25, 2025. The IPO consists of a fresh issue of ₹650 crore and an offer for sale (OFS) worth ₹50 crore by the company’s promoters.

The company has confirmed that proceeds from the IPO will be used to expand its co-working operations, repay borrowings, and cover general corporate expenses. The IPO will also allow IndiQube to solidify its position in India’s growing flexible workspace sector.

The price band for the IPO has been fixed at ₹225–₹237 per share, with a lot size of 63 shares and in multiples thereafter. Anchor investor bidding is scheduled for July 22.

Founded in Bengaluru, IndiQube operates 115 managed office centers across 15 cities, covering more than 8.4 million square feet of leasable area. The company has reported a steady expansion, growing from 74 centers as of March 2023. It currently provides seating capacity for over 1.8 lakh occupants across startups, MSMEs, and enterprise clients.

Of the total issue, 75% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and the remaining 10% for retail investors. The IPO is being managed by Axis Capital, ICICI Securities, and IIFL Securities.

According to the company’s filings, approximately ₹462.6 crore of the IPO proceeds will be used for expanding into new centers, while ₹93 crore will be allocated toward the repayment of existing borrowings. The rest will be used for general corporate purposes.

The allotment of shares is expected to be finalized by July 28, with listing scheduled for July 30 on both the BSE and NSE.

IndiQube’s IPO comes amid growing investor interest in India’s coworking and flexible office space sector, particularly in the post-pandemic era where hybrid work models have accelerated demand for shared workspace infrastructure.

The IPO is expected to provide a much-needed capital boost to further IndiQube’s mission of becoming a leading player in India’s dynamic commercial real estate segment.