Indiqube Spaces IPO Sees Strong Retail Demand, Subscribed 0.93x on Day 1

New Delhi, July 23, 2025 — The ₹700-crore initial public offering (IPO) of Indiqube Spaces Limited garnered solid traction on Day 1, with overall subscription reaching 0.93 times the total offer size, primarily driven by enthusiastic retail and non-institutional investor (NII) participation.

Subscription Snapshot (as of 5:00 PM, July 23)

• Retail Individual Investors (RIIs): Oversubscribed 3.63 times
  • Bids received: 1,07,03,133 shares for 29,47,257 shares
• Non-Institutional Investors (NIIs): Subscribed 0.83 times
  • bNII (above ₹10 lakh): 0.68x
  • sNII (₹2–10 lakh): 1.11x
• Qualified Institutional Buyers (QIBs): Subscribed 0.06 times
  • Bids received: 88,411,772 shares for 5,45,769 shares
• Employee Quota: Subscribed 3.00 times
  • Bids received 2,09,223 shares for 69,767 shares

IPO Details at a Glance

• Price Band: ₹225 – ₹237 per share
• Lot Size: 63 shares
• IPO Dates: July 23–25, 2025
• Listing Date: Tentatively July 30, 2025
• Lead Managers: ICICI Securities and JM Financial
• Registrar: MUFG Intime India

Use of Proceeds

The net proceeds from the ₹650 crore fresh issue will be deployed for:

• Setting up new managed workspace centres
• Repayment/pre-payment of existing borrowings
• General corporate purposes

With Day 1 subscription nearing full booking and retail demand already overshooting its quota, Indiqube Spaces’ IPO is off to a promising start. The focus now shifts to QIB participation, which typically intensifies on the final day of bidding.

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