Indiqube Spaces IPO Opens July 23 to Raise Rs. 700 Crore

Indiqube Spaces Ltd, a leading Bengaluru-based coworking space provider, has filed for its initial public offering (IPO) set to open on July 23, 2025, and close on July 25.

The IPO aims to raise Rs. 700 crore (US$84.34 million), comprising a fresh issue of Rs. 650 crore and an offer for sale (OFS) of Rs. 50 crore by promoters. The price band is fixed at Rs. 225–Rs. 237 per share. According to its red herring prospectus (RHP) submitted to SEBI, Indiqube posted a net loss of Rs. 139.61 crore in FY25, significantly narrowing from Rs. 341.50 crore in FY24. Meanwhile, total income surged to Rs. 1,102.93 crore in FY25, up from Rs. 867.66 crore in FY24—indicating a strong topline trajectory despite consistent losses over the past three years.

Key Highlights

• Indiqube IPO opens July 23 with a price band of Rs. 225–Rs. 237
• FY25 net loss narrowed to Rs. 139.6 crore from Rs. 341.5 crore in FY24
• Operates 115 coworking centers with 8.4M sq. ft. across 15 cities

Founded in 2015, Indiqube has steadily expanded its presence. As of March 31, 2025, the firm operates 115 coworking centers across 15 Indian cities, covering 8.40 million sq. ft. of office space with a seating capacity of 186,719. The company previously raised Rs. 324 crore in funding rounds in 2018 and 2022.

The IPO proceeds will be used to strengthen operations, repay debt, and fund future expansion plans as Indiqube eyes further growth in India’s evolving commercial real estate and flexible workspace sector.

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This IPO arrives amid growing investor interest in tech-driven real estate models, positioning Indiqube as a significant player in the mid-to-premium co-working segment.