Indiqube Spaces came to market through an IPO that opened on 23 July 2025 and closed on 25 July 2025, and the shares listed on 30 July 2025 on BSE, NSE. The price band was ₹225 to ₹237 per share and one lot was 63 shares, so the minimum application was ₹14,931. The issue size was ₹700 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MUFG Intime India Private Limited (Link Intime) was the registrar to the issue, and ICICI Securities Limited, Jm Financial Limited were the lead managers.
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Founded in 2015, Indiqube Spaces Limited delivers managed, sustainable, and technology-driven workplace solutions to shift the traditional office experience into a better one for contemporary businesses.The firm delivers varied workplace solutions, such as corporate campuses and branch offices, with employee improvement through interiors, amenities, and services.
The firm combines asset refurbishment, tailored models, and B2B/B2C value-added services, delivering holistic workspace solutions with plug-and-play offices for clients and workers.The firm operates 103 centers in 13 cities, spanning 7.76 million square feet of AUM with 172,451 seats. During the period from March 31, 2022, to June 30, 2024, they acquired 41 assets and entered five new cities. The firm looks to buy whole buildings in high-rental areas with solid infrastructure and low vacancy rates.
They collaborate with landlords to lease and repurpose old buildings into modern, sustainable workplaces.The company renovates properties with interiors, amenities, and sustainability. They have 31.67% of their portfolio renovated as of June 30, 2024. Their enterprise-first approach caters to large customers with long-term, scalable spaces.
As of June 30, 2024, the company has operations in 13 Indian cities, which comprise seven Tier I cities (Bengaluru, Pune, Chennai, Mumbai, Noida, Gurugram, Hyderabad) and six non-Tier I cities (Coimbatore, Kochi, Madurai, Jaipur, Calicut, Vijayawada).As of June 30, 2024, the company has a diverse team of 625 permanent employees.
As described in the offer document.
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Indiqube Spaces IPO: Institutional investors choose Rs 314.3 crore shares through anchor book. Large institutional investors such as Tocu Europe, BNP Paribas Financial Markets, Societe Generale, Aditya Birla Sun Life AMC, Ashoka Whiteoak, Invesco, Bandhan Mutual Fund, Motilal Oswal AMC, Malabar India Fund, Axis Max Life Insurance, Edelweiss, Baroda BNP Paribas MF, and Grow Mutual Fund invested in the anchor book.
Rishi Das, Meghna Agarwal, Anshuman Das. Promoter holding 70.47% before the issue and 60.23% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Indiqube Spaces IPO was a ₹700 crore book-built issue, comprising a fresh issue of ₹650 crore and an offer for sale of ₹50 crore. It was priced at ₹225–₹237 per share with a lot size of 63 shares (₹14,931). The IPO was open from July 23 to July 25, 2025. Shares listed on BSE and NSE on July 30, 2025 at ₹216, a 8.9% discount to the issue price of ₹237.
MUFG Intime India Private Limited (Link Intime) is the registrar. ICICI Securities Limited and Jm Financial Limited are the book running lead managers.
The price band of Indiqube Spaces IPO is ₹225 to ₹237 per share.
The lot size of Indiqube Spaces IPO is 63 shares.
The minimum investment for Indiqube Spaces IPO is approximately ₹14,931 based on the upper price band.
The allotment date of Indiqube Spaces IPO is Jul 28, 2025.
Indiqube Spaces IPO's final recorded GMP before listing was ₹1 per share (level with the ₹237 upper price band). The shares listed at ₹216. GMP is unofficial and does not forecast or guarantee the actual listing price.
Indiqube Spaces IPO listed on Jul 30, 2025. It was issued at ₹216.0(NSE) and is currently around ₹179.78 as on 3-Nov-2026 3:30 PM, which is approximately -24.1% versus issue price. The 52-week high is ₹232.01.
You can check Indiqube Spaces IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Indiqube Spaces IPO allotment status on Rupix for quick and easy access.
₹225 to ₹237 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 63 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,931.
₹14,931, for one lot of 63 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 23 July 2025 and closed on 25 July 2025.
The basis of allotment was published on 28 July 2025 by MUFG Intime India Private Limited (Link Intime), and allotted shares were credited to demat accounts before listing.
The shares listed on 30 July 2025 on BSE, NSE.
The issue size was ₹700 crore. The fresh issue was 2,74,26,160 shares (aggregating up to ₹650 crore). The offer for sale was 21,09,704 shares (aggregating up to ₹50 crore).