Indiqube Spaces Makes Tepid Market Debut Despite Strong IPO Subscription
Indiqube Spaces, a workspace solutions provider, debuted on Indian stock exchanges at a discount to its IPO price. Shares opened at ₹216.00 on NSE and ₹218.70 on BSE, representing discounts of 8.86% and 7.72% respectively from the ₹237.00 IPO price. The IPO was oversubscribed 12.41 times, raising ₹700.00 crore. The company plans to use ₹462.65 crore for new centres and ₹93.00 crore for debt repayment. Indiqube's recent financials show 27.00% revenue growth and 59.12% reduction in net loss.
*this image is generated using AI for illustrative purposes only.
Indiqube Spaces , a prominent workspace solutions provider, made its much-anticipated stock market debut with a lukewarm response from investors. Despite a strong subscription during its Initial Public Offering (IPO), the company's shares listed at a discount to its issue price on both major Indian stock exchanges.
Listing Details
The company's shares opened for trading at ₹216.00 on the National Stock Exchange (NSE) and ₹218.70 on the Bombay Stock Exchange (BSE). These figures represent discounts of 8.86% and 7.72% respectively from the IPO price of ₹237.00 per share.
IPO Performance
Indiqube Spaces' IPO garnered significant interest from investors, with the issue being oversubscribed 12.41 times. The company successfully raised ₹700.00 crore through the offering, which comprised:
- Fresh issue of shares worth ₹650.00 crore
- Offer-for-sale (OFS) component of ₹50.00 crore
Fund Utilization Plans
The company has outlined clear plans for the utilization of the funds raised through the IPO:
- ₹462.65 crore allocated for establishing new centres
- ₹93.00 crore earmarked for debt repayment
Recent Financial Performance
Indiqube Spaces has demonstrated strong growth in its recent financial results:
| Metric | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue | ₹1,102.93 crore | ₹868.45 crore | +27.00% |
| Net Loss | ₹139.62 crore | ₹341.51 crore | -59.12% |
The company has shown significant improvement in its financial position, with revenue growth of 27.00% year-over-year and a substantial reduction in net losses.
Company Background
Incorporated in 2015 and headquartered in Bengaluru, Indiqube Spaces has established itself as a provider of sustainable workspace solutions. The company's recent market debut marks a significant milestone in its journey, as it transitions from a private entity to a publicly-traded company.
While the initial market response has been subdued, as reflected in the discounted listing price, the company's strong growth trajectory and strategic expansion plans could potentially influence its future performance in the stock market.
17
