IndiQube

Indiqube Spaces shares listed at ₹216 on the NSE, reflecting a discount of 8.8 per cent over the issue price of ₹237

The initial public offer of IndiQube Spaces Ltd got subscribed 12.33 times on the closing day of bidding on Friday. The company's IPO received bids for 21,14,96,292 shares against 1,71,48,335 shares on offer, according to NSE data. The Qualified Institutional Buyers (QIBs) part fetched 14.35 times subscription while the portion for Retail Individual Investors (RIIs) got subscribed 12.55 times. Non Institutional Investors category attracted 8.24 times subscription. IndiQube Spaces on Tuesday said it has raised over Rs 314 crore from anchor investors. The Rs 700-crore initial public offer (IPO) of the Bengaluru-based firm has a price band of Rs 225-237 per share. At the upper end of the price band, the company's valuation is nearly Rs 5,000 crore. The IPO has a fresh issue of Rs 650 crore and an Offer-for-Sale (OFS) of Rs 50 crore. IndiQube Spaces proposes to utilise the fresh capital to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for .

Indiqube Spaces aims to raise ₹700 crore through a combination of a fresh issue of 27.4 million equity shares worth ₹650 crore and an OFS of 2.1 million shares

Backed by venture capital firm WestBridge Capital and noted investor Ashish Gupta, IndiQube operates with 103 centres across 13 cities

Ninjacart will use this new space to fuel its expansion plans as it now operates in new verticals

Co-working operator IndiQube Friday said it has entered the Mumbai market by starting a centre with over 600 seats at the Leela Business Park in Andheri. "The company's first venture in the city will offer over 600 seats, adding to the existing 30 plus workspaces across 5 different cities with a cumulative capacity of around 30,000 seats," IndiQube said in a statement. The expansion is aided by Series A funding of USD 15 million raised from WestBridge Capital, this June. With the launch of its workspace at the Leela Business Park, IndiQube will have presence across the cities of Bengaluru, Hyderabad, Chennai, Mumbai and Pune. Rishi Das, Co-Founder & Chairman, IndiQube said: "Mumbai, the business capital of the country, is a market with great potential for co-working and shared spaces. A lot of start-ups are coming up in Mumbai, owing to the city's prospect for business growth." He said the company is expanding aggressively and plans to add around 15000-20,000 seats over the next .