Indiqube Spaces Lists at 8.86% Discount

Mumbai, July 30, 2025 – Shares of Indiqube Spaces Ltd (NSE: INDIQUBE, BSE: 544393) made a weak debut on July 30, 2025. On the NSE, the stock listed at ₹216, reflecting an 8.86% discount to Indiqube Spaces IPO price of ₹237, while on the BSE, it opened at ₹218.70, down 7.7%.

In its first hour of trading, the share price was highly volatile, swinging between a high of ₹222.75 and a low of ₹201.55. As of 12:24 PM IST, the stock was trading at ₹210.87, though it earlier dipped to around ₹206.54, a decline of approximately 12.85% from the issue price – underscoring investor caution. The IPO saw strong subscription interest-receiving 13 times subscription applications, with QIBs subscribing 14.35×, retail investors 12.9×, and NII bidding 8.27× of their respective quotas.

Indiqube Spaces Listing Highlights

Indiqube Spaces Ltd made its stock market debut with an IPO price of ₹237 and was listed at ₹216. During intraday trade, it hit a high of ₹222.97 and a low of ₹201.60. The total volume traded stood at 42.24 lakh shares, amounting to a traded value of ₹90.12 crore. The stock’s Volume Weighted Average Price (VWAP) was ₹213.35, and the company’s market capitalization stood at ₹4,337.58 crore.

Weak Start Despite Strong Subscription

The Indiqube Spaces Ltd IPO witnessed strong investor participation, closing at 13.00× subscription on the final day, with Qualified Institutional Buyers (QIBs) bidding 15.12×, retail investors 13.28×, and NIIs around 8.68× of their quotas. Despite this robust demand, the listing was modest with shares debuting below expectations. As per the latest details, order book data from NSE showed sharp selling pressure: sell orders stood at 23.36 lakh shares, while buy-side interest lagged at just 3.63 lakh. This imbalance reflects a cautious sentiment in the secondary market, likely driven by uncertainties around profitability and premium valuations despite strong subscription numbers.

About Indiqube Spaces

Indiqube Spaces Limited is a leading tech-enabled provider of managed office spaces in India, with over 8.4 million sq. ft. under management across 15 cities. The IPO proceeds of ₹650 crore (fresh issue) were intended for expansion, debt repayment, and corporate purposes, while promoters Rishi Das and Meghna Agarwal offloaded shares worth ₹50 crore via Offer for Sale (OFS).

REF: https://www.nseindia.com/get-quotes/equity?symbol=INDIQUBE

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