Last day! Indiqube Spaces IPO closes today; check subscription status, GMP

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

Indiqube Spaces IPO Day 3 subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Indiqube Spaces is set to conclude today, July 25, 2025. The mainboard public issue, which opened for bidding on Wednesday, July 23, has received a muted response from investors so far. 

 

According to data available on the National Stock Exchange (NSE), Indiqube Spaces has received bids for 55.5 million equity shares against 17.14 million shares on offer, resulting in a subscription of only 3.24 times till 11:40 AM on Friday, July 25, 2025. 

 

The highest demand for the public offering came from retail investors, who oversubscribed the portion reserved for them by 9.05 times. This was followed by the non-institutional investors (NIIs) category subscribing 2.97 times of the portion reserved for them, employees' quota was booked 5.3 times, and Qualified institutional buyers (QIBs) bid for 1.42 times of the reserved quota.

 

Indiqube Spaces IPO GMP

According to the sources tracking unofficial markets, Indiqube Spaces shares were trading at around 247, reflecting a grey market premium (GMP) of ₹10 or 4.2 per cent over the upper end of the price band of ₹225 to ₹237.

Indiqube Spaces IPO details

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 offer for sale (OFS) of 2.1 million shares worth ₹50 crore. Founders Rishi Das and Meghna Agarwal are the promoter selling shareholders, according to the RHP.

 

The public offering is available with a lot size of 63 shares. A retail investor can bid for a minimum of one lot with an investment amount of ₹14,931 (at the upper end of the IPO price) and in multiples thereof.

 

As the subscription window concludes today, the basis of allotment for Indoqube IPO shares is likely to be finalised on Monday, July 28, 2025. The successful allottees will receive the company's shares in their demat accounts by Tuesday, July 29, 2025.

 

Indiqube Spaces shares are slated to list on the NSE and BSE, tentatively on Wednesday, July 30, 2025.

 

MUFG Intime India serves as the registrar for the public issue. ICICI Securities and JM Financial are the sole book-running lead managers.

 

According to the red herring prospectus (RHP), the company plans to use ₹462.6 crore from the net fresh issue proceeds for establishing new centres and ₹93 crore for repayment or prepayment of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.  

About Indiqube Spaces

Bengaluru-based Indiqube Spaces is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions. The company offers diverse solutions ranging from large corporate offices to small branch offices for enterprises.

 

According to the RHP, Indiqube manages a portfolio of 115 centres across 15 cities, consisting of 105 operational centres and 10 centres for which they have executed letters of intent. It covers 8.40 million square feet of area under management (AUM) in super built-up area (SBA) with a total seating capacity of 186,719 as of March 31, 2025.