IndiQube Spaces, a company that provides managed office spaces, has raised INR 314.3 crore from anchor investors before its IPO.
The company gave out shares at INR 237 each, which is the highest price in its IPO range. The public issue is set to open on July 23.
Anchor investors purchased 1.3 crore equity shares of the company at INR 237 each.
Eight Indian mutual funds, using 21 different schemes, bought 89.2 lakh shares of IndiQube, investing a total of INR 211.7 crore. Some of these funds are Groww, Edelweiss, BNP Paribas, Aditya Birla Sun Life, and Motilal Oswal.
Other anchor investors included Axis Max Life Insurance, Societe Generale, Invesco, and Whiteoak.
The IPO includes a new share sale worth INR 650 crore and an INR 50 crore sale of shares by promoters Rishi Das and Meghna Agarwal.
The IPO will be open for people to buy shares from July 23 to July 25. The price of each share will be between INR 225 and INR 237. The shares are expected to start trading on July 30.
WestBridge Capital, which owns 27.95% of the company before the IPO through its affiliates, is not selling any shares in this offer.
IndiQube was started in 2015 by Rishi Das and Meghna Agarwal. The company offers fully managed office spaces with design, interiors, and tech services, and it is getting ready for its IPO.
In the financial year 2025, IndiQube’s operating revenue grew by 28%, reaching INR 1,059.3 crore compared to INR 830.6 crore the previous year. The company also cut its net loss by 60%, down to INR 139.6 crore. Its EBITDA for the year was INR 660 crore.
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