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.
Rupee hits all-time low at 85.20 against USD due to strong greenback, rising crude oil prices, and weak domestic markets.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.