Indiqube Spaces IPO Oversubscribed 3.10 Times, Retail Investors Show Strong Interest
By ScanX News Team
Indiqube Spaces' IPO received an overall subscription of 3.10 times on the final bidding day. Retail portion was oversubscribed 8.65 times, while QIBs and non-institutional buyers subscribed 1.42 and 2.72 times respectively. The Rs 700 crore IPO includes a fresh issue of Rs 650 crore and an offer for sale of Rs 50 crore, with a price band of Rs 225-237 per share. The company raised Rs 314 crore from anchor investors and plans to use proceeds for new centers and debt repayment. The grey market premium suggests a potential listing price of Rs 247.
*this image is generated using AI for illustrative purposes only.
Workspace solutions provider Indiqube Spaces' initial public offering (IPO) has garnered significant investor interest, achieving an overall subscription of 3.10 times on the final day of bidding.
Strong Retail Demand
The retail portion of the IPO saw the strongest demand, with a subscription rate of 8.65 times. This robust response from individual investors highlights the appeal of Indiqube Spaces in the retail segment.
Institutional and Non-Institutional Interest
Qualified institutional buyers (QIBs) and non-institutional investors also showed considerable interest in the offering:
- QIBs subscribed 1.42 times their allotted portion
- Non-institutional buyers subscribed 2.72 times their quota
IPO Details
| Item | Details |
|---|---|
| Total IPO size | Rs 700.00 crore |
| Fresh issue | Rs 650.00 crore |
| Offer for sale | Rs 50.00 crore |
| Price band | Rs 225-237 per share |
Anchor Investment and Fund Utilization
Prior to the public offering, Indiqube Spaces raised Rs 314.00 crore from anchor investors. The company plans to utilize the IPO proceeds as follows:
- Rs 462.65 crore for establishing new centers
- Rs 93.00 crore for debt repayment
Grey Market Premium
The grey market premium for Indiqube Spaces stands at Rs 10, suggesting a potential listing price of Rs 247.
Market Outlook
The strong response to Indiqube Spaces' IPO, particularly from retail investors, indicates positive sentiment towards the workspace solutions sector. As companies continue to adapt to evolving work environments, the demand for flexible office spaces may remain robust.
18
