Indiqube Spaces sets price band of Rs225-237 a share for IPO

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Indiqube Spaces Ltd has announced a price band of Rs 225-237 per equity share for its upcoming initial public offering (IPO), which will open for subscription on July 23 and close on July 25.

The anchor book will open a day earlier on July 22. The basis of allotment is scheduled for July 28, while refunds and credit of shares will be processed on July 29. The company is expected to debut on the stock exchanges on July 30.

The IPO consists of a fresh issue of equity shares aggregating to Rs 650 crore and an offer-for-sale worth Rs 50 crore by the promoters, Rishi Das and Meghna Agarwal.

The company intends to utilise Rs 426.6 crore from the fresh issue to fund capital expenditure, Rs 100 crore for debt repayment, and the remaining amount for general corporate purposes. As of May 2025, IndiQube reported total borrowings of Rs 332 crore.

Co-founded by Rishi Das and Meghna Agarwal, IndiQube is backed by marquee investors such as WestBridge Capital, which holds a 5.79 percent stake, and noted investor Ashish Gupta, with a 0.98 percent stake.

The company manages a portfolio of 115 centres across 15 cities, including 105 operational centres and 10 under signed letters of intent. These properties collectively span 8.40 million square feet of super built-up area and offer a total seating capacity of 1,86,719 for fiscal 2025.

ICICI Securities and JM Financials are acting as the lead managers to the issue.