WestBridge Capital-backed workplace solutions provider Indiqube Spaces has raised Rs 314.3 crore from 29 institutional investors via anchor book on July 22, a day before the issue opening.
The Rs 700-crore maiden public issue will open for subscription on July 23 and close on July 25. The IPO share allotment will be finalised by July 28 and the trading in Indiqube Spaces shares will commence on the bourses effective July 30.
The Bangalore-based coworking spaces provider in its filing on Tuesday said it has finalised allocation of 1.3 crore equity shares to anchor investors at Rs 237 per share.
Marquee institutional investors like Tocu Europe, BNP Paribas Financial Markets, Societe Generale, Aditya Birla Sun Life AMC, Ashoka Whiteoak, Invesco, Bandhan Mutual Fund, Motilal Oswal AMC, Malabar India Fund, Axis Max Life Insurance, Edelweiss, Baroda BNP Paribas MF, and Grow Mutual Fund participated in the anchor book.
"8 domestic mutual funds have applied through their total 12 schemes," Indiqube said.
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The IPO is a combination of fresh issuance of shares worth Rs 650 crore, and an offer-for-sale of Rs 50 crore worth shares by promoters and founders Rishi Das, and Meghna Agarwal. The price band for the offer is Rs 225-237 per share.
Indiqube Spaces that seeks valuation of Rs 4,977 crore intends to spend Rs 462.6 crore out of fresh issue proceeds for establishment of new centers. Further, Rs 93 crore will be used for repaying debt, and the remainder funds for general corporate purposes.
The managed workplace solutions company operates a portfolio of 115 centers across 15 cities, covering 8.40 million square feet of area under management (AUM) with a total seating capacity of 1.86 lakh as of March 2025.
ICICI Securities, and JM Financial are acting as the book running lead managers for the Indiqube Spaces IPO.
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