Indiqube Spaces IPO Nearly Fully Subscribed on Day 2; Retail and HNI Demand Stays Strong
By HDFC Sky | Published at: Jul 24, 2025 12:06 PM IST
Mumbai, July 24, 2025 – The ₹700‑crore IPO of Indiqube Spaces Limited saw strong traction on Day 2, edging close to full subscription by morning. As of 10:39 AM, the issue had drawn bids for 1.16 times the offered shares, indicating growing interest after a lukewarm start on Day 1.
Category-Wise Subscription Snapshot (Day 2 – July 24, 2025)
As of the latest update, Indiqube Spaces IPO has been subscribed 0.99 times overall. Retail Individual Investors (RIIs) led the demand with a 3.84x subscription, followed by employees at 3.04x. Non-Institutional Investors (NIIs) subscribed 90% of their quota, while Qualified Institutional Buyers (QIBs) showed minimal interest, subscribing just 6% of their allotted shares.
| Category | Shares Reserved | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 93,13,334 | 5,50,179 | 0.06 |
| Non-Institutional Investors (NIIs) | 46,56,666 | 41,99,895 | 0.90 |
| Retail Individual Investors (RIIs) | 31,04,444 | 1,19,12,103 | 3.84 |
| Employees | 73,891 | 2,24,532 | 3.04 |
| Total | 1,71,48,335 | 1,68,86,709 | 0.99 |
Breakdown within NII Segment:
- High-Value Bids (Above ₹10 lakh): Subscribed 0.75x
- Mid-Tier Bids (₹2-10 lakh): Oversubscribed at 1.20x
Retail and Employee Segments Shine:
- Retail Cut-Off Bids: 1.03 crore shares
- Retail Price Bids: 15.38 lakh shares
- Employee Bids: Oversubscribed 3.04 times
Price-Wise Cumulative Demand
The bid book remains robust across the price band, with over 1.70 crore shares bid at or above the lower price band of ₹225. Even at the upper band of ₹237, demand stays strong with 1.69 crore shares applied. Cut-off bids alone account for 1.05 crore shares, underlining dominant retail confidence.
IPO Details Recap
- IPO Open: July 23 to July 25, 2025
- Price Band: ₹225 to ₹237 per share
- Lot Size: 63 shares
- Listing Date: Tentative July 30, 2025
- Lead Managers: ICICI Securities and JM Financial
Use of Proceeds
- ₹650 crorefresh issue for:
- Expansion of managed office centres
- Partial debt repayment
- General corporate purposes
- ₹50 crore OFS by promoters Rishi Das and Meghna Agarwal
With retail and HNI bids firmly driving demand and institutional investors expected to intensify participation on the final day, Indiqube Spaces’ IPO is poised for full subscription and potential oversubscription ahead of its closing on Friday, July 25.
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
