Future IPO: IndiQube Spaces intends to raise Rs. 850 crore through an IPO that will include an offer to sell shares worth up to Rs. 100 crore and a new issue of equity shares worth up to Rs. 750 crore.
On Tuesday, December 24, 2024, IndiQube Spaces Ltd submitted preliminary draft documents to the Securities and Exchange Board of India (SEBI), which oversees capital markets, in order to raise money through an initial public offering (IPO). IndiQube Spaces is a workplace solutions firm committed to using technology-driven and environmentally friendly solutions to revolutionize the conventional office experience.Renowned investor Ashish Gupta and well-known venture capital firm WestBridge Capital support the Bengaluru-based business, which is led by Meghna Agarwal and Rishi Das, who serve as chairman, executive director, and chief executive officer (CEO).
Details about IndiQube Spaces' IPO
IndiQube Spaces intends to use the impending IPO to raise Rs. 850 crore. The IPO will include an offer for sale (OFS) of equity shares up to Rs. 100 crore by the promoter selling shareholders, Rishi Das and Meghna Agarwal, as well as a fresh issue of equity shares up to Rs. 750 crore, according to the draft red herring prospectus (DRHP) submitted to SEBI.
IndiQube Spaces intends to use the net proceeds of the new issue to pay for general corporate purposes, repayment or partial repayments of certain borrowings (Rs. 100 crore), and capital expenditures for the construction of new centers (Rs. 462.6 crore). IndiQube's book-running lead managers are ICICI Securities Ltd. and JM Financial Ltd.
IndiQube Spaces intends to use the impending IPO to raise Rs. 850 crore. The IPO will include an offer for sale (OFS) of equity shares up to Rs. 100 crore by the promoter selling shareholders, Rishi Das and Meghna Agarwal, as well as a fresh issue of equity shares up to Rs. 750 crore, according to the draft red herring prospectus (DRHP) submitted to SEBI.
IndiQube Spaces intends to use the net proceeds of the new issue to pay for general corporate purposes, repayment or partial repayments of certain borrowings (Rs. 100 crore), and capital expenditures for the construction of new centers (Rs. 462.6 crore). IndiQube's book-running lead managers are ICICI Securities Ltd. and JM Financial Ltd.
Details of the IndiQube Spaces Company
In 2015, IndiQube Spaces was incorporated. With a total seating capacity of 172,451 as of June 30, 2024, it oversees a network of 103 centers spread throughout 13 cities, totaling 7.76 million square feet of space under administration in super-built-up areas. A diverse range of Indian businesses and global capability centers (GCCs) make up its customers.
GCC companies, Indian corporations, unicorns, and start-ups from a variety of industries, including Siemens, Narayana Health, Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, and Ninjacart, are among IndiQube's clients. The company's main product, IndiQube Grow, is a plug-and-play workplace solution that includes technology, interior design, facility management, and value-added services.
In order to meet the specific needs of its clients, IndiQube Spaces has also created four more verticals: IndiQube Bespoke, IndiQube One, MiQube, and IndiQube Cornerstone. In fiscal 2024, it recorded a total income of Rs. 867.6 crore, up from Rs. 601.2 crore in fiscal 2023. In Q1 of FY25, the EBITDA was Rs. 153 crore, compared to Rs. 263.4 crore in FY24.
Four independent directors were recently added to IndiQube Spaces' board. Rahul Matthan, a partner at Trilegal with 30 years of experience, Sachi Krishana, who has 20 years of experience in human resources, Avalur Gopalaratnam Muralikrishnan, a certified chartered accountant with over 35 years of experience in the finance industry, and Naveen Tewari, the founder and CEO of the InMobi Group, are the new members of the Board.
In 2015, IndiQube Spaces was incorporated. With a total seating capacity of 172,451 as of June 30, 2024, it oversees a network of 103 centers spread throughout 13 cities, totaling 7.76 million square feet of space under administration in super-built-up areas. A diverse range of Indian businesses and global capability centers (GCCs) make up its customers.
GCC companies, Indian corporations, unicorns, and start-ups from a variety of industries, including Siemens, Narayana Health, Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, and Ninjacart, are among IndiQube's clients. The company's main product, IndiQube Grow, is a plug-and-play workplace solution that includes technology, interior design, facility management, and value-added services.
In order to meet the specific needs of its clients, IndiQube Spaces has also created four more verticals: IndiQube Bespoke, IndiQube One, MiQube, and IndiQube Cornerstone. In fiscal 2024, it recorded a total income of Rs. 867.6 crore, up from Rs. 601.2 crore in fiscal 2023. In Q1 of FY25, the EBITDA was Rs. 153 crore, compared to Rs. 263.4 crore in FY24.
Four independent directors were recently added to IndiQube Spaces' board. Rahul Matthan, a partner at Trilegal with 30 years of experience, Sachi Krishana, who has 20 years of experience in human resources, Avalur Gopalaratnam Muralikrishnan, a certified chartered accountant with over 35 years of experience in the finance industry, and Naveen Tewari, the founder and CEO of the InMobi Group, are the new members of the Board.
0 Comments