Archive · 25 Jul 2025
Indiqube IPO: Investors May Consider a Wait-and-Watch
Indiqube, a company that provides office spaces, is trying to raise money by selling shares to the public (IPO).
They're asking for ₹700 crore and setting a price for each share.
However, compared to other similar companies, Indiqube's shares might be a bit expensive right now.
The company uses a leasing model, meaning they rent office space and then make it ready for use, which costs them money.
While Indiqube has positive aspects like a good client base, experts suggest that investors should wait for potentially better opportunities in the future.
Indiqube is launching an IPO to raise approximately ₹700 crore.
The IPO price band is set at ₹225-₹237, with the offer open until July 25.
Indiqube's valuations appear stretched compared to peers like Smartworks and Awfis.
The company operates primarily under a lease model and faces capex for office fit-outs.
Analysts suggest investors may wait for better entry points due to financial comparisons.
- Who
- Indiqube, a coworking and office leasing company, is the subject of the IPO.
- What
- Indiqube is conducting an IPO to raise capital.
- When
- The IPO is open for subscription until July 25.
- Where
- Indiqube operates in 15 cities, including 8 tier 1 cities in India.
- Why
- The funds raised will be used for capital expenditure and to repay debt.
Potential Upsides
Potential Downsides
Valuation and Financial Performance
Potential Upsides
Many key factors are positive for Indiqube including a robust client base, fairly long lease lock-in periods with clients, healthy occupancy levels and the ability to scale up its value-added services segment.
Potential Downsides
Indiqube's elevated valuations compared to peers, along with a dip in financial metrics during FY24, suggest that investors may want to wait for a better entry point.
- IPO Amount
- ₹700 crore
- Price Band
- ₹225-₹237
- Offer for Sale
- ₹50 crore
- Fresh Issue
- ₹650 crore
- FY25 Revenue
- ₹1059.3 crore
- FY25 EBITDA
- ₹616.5 crore
- Occupancy Rate (FY25)
- 85.1%