IndiQube Spaces files draft papers with Sebi for ₹850 crore IPO
The Hindu
IndiQube Spaces Ltd files for ₹850 crore IPO with plans to revolutionize workplace solutions in India.
Workplace solutions company IndiQube Spaces Ltd has filed preliminary papers with capital markets regulator Sebi to raise ₹850 crore through an initial public offering (IPO).
Also read: The changing face of workplaces in Tamil Nadu
The IPO of the Bengaluru-based company comprises a fresh issue of equity shares worth ₹750 crore and an Offer for Sale (OFS) of equity shares aggregating up to₹ 100 crore by the promoters -- Rishi Das and Meghna Agarwal, according to the draft red herring prospectus (DRHP) filed on Tuesday (December 24, 2024).
IndiQube Spaces proposes to utilise the proceeds of the fresh issue to the tune of ₹462.6 crore towards funding capital expenditure towards establishment of new centres; ₹100 crore for payment of debt; and a portion will be used for general corporate purposes.
The company is backed by prominent venture capital firm WestBridge Capital and renowned individual investor Ashish Gupta.
IndiQube, a managed workplace solutions company, is dedicated to transforming the traditional office experience through comprehensive, sustainable, and technology-driven solutions.
The company which was incorporated in 2015, manages a portfolio of 103 centres across 13 cities, covering 7.76 million square feet of area under management (AUM) in super built-up area with a total seating capacity of 172,451 as of June 30, 2024 and has a balanced portfolio of global capability centres (GCCs) and Indian enterprises as part of its clientele.
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