IndiQube Spaces Ltd, a managed workplace solutions company backed by Westbridge, has recently filed its draft red herring prospectus (DRHP) with SEBI to raise funds through an IPO. The company plans to raise ₹750 crore through a fresh issue of equity shares and ₹100 crore through an offer-for-sale (OFS) by the promoter-selling shareholders.
The funds raised will be used for various purposes, including funding capital expenditure for new centres, repaying borrowings, and general corporate purposes. IndiQube reported a total income of ₹867.6 crore in FY24, with an EBITDA of ₹263.4 crore. The company’s clientele includes GCCs, Indian corporates, unicorns, and startups like Myntra, upGrad, Zerodha, and more.
Established in 2015, IndiQube manages a portfolio of 103 centres across 13 cities, covering 7.76 million square feet of area under management. The company has a total seating capacity of 172,451 as of June 30, 2024, with a clientele mix of GCCs and Indian enterprises.
The equity shares of IndiQube will be listed on BSE and NSE, providing investors with an opportunity to participate in the company’s growth story. With its strong financial performance and diverse client base, IndiQube is well-positioned to capitalize on the growing demand for managed workplace solutions in India.
Overall, IndiQube’s IPO filing signals its ambitious growth plans and solidifies its position as a key player in the managed workplace solutions industry. Investors and stakeholders will be closely watching the company’s IPO journey to see how it unfolds in the market.
