IndiQube Spaces, the Bengaluru facility services provider of managed and tech-enabled workplace solutions, is set to conclude the allotment status of its highly anticipated Initial Public Offering (IPO) on Monday, July 28. The IPO, which was open for subscription from July 23 to July 25, raised a total of ₹700 crore and garnered a robust response across investor groups.
IPO Overview
The IPO was floated between ₹225 and ₹237 per equity share, while bids could be submitted for a minimum of 63 shares and in multiples thereafter. The offering comprised a fresh issue of shares aggregating to ₹650 crore and an Offer for Sale (OFS) of up to ₹50 crore of shares by current shareholders. Proceeds from the fresh issue are anticipated to fund the expansion plans, technology upgradation, and working capital requirements of the company.
Supported by solid fundamentals and a distinct growth story, IndiQube Spaces attracted a broad investor base. The issue was subscribed 12.41 times over, receiving more than 5.66 lakh applications in all. The Qualified Institutional Buyers (QIB) portion was subscribed 14.35 times, whereas the Non-Institutional Investors (NII) segment was booked 8.27 times. The retail category was subscribed 12.90 times, and the employee quota saw a subscription of 6.83 times.
Allotment Status & How to Check
As the basis of allotment is likely to be completed on Monday, July 28, the applicants who have applied can anticipate messages or email intimation on Tuesday, July 29, about the debit of funds or release of IPO mandates.
Applicants can verify their IPO allotment status through either of the two prominent portals: BSE India or the official registrar’s website—MUFG Intime India Pvt Ltd.
Steps to Verify Allotment on BSE India:
Visit: https://www.bseindia.com/investors/appli_check.aspx
Choose ‘Equity’ under issue type.
Select ‘IndiQube Spaces Limited’ from the drop-down list.
Enter your application number and PAN card information.
Click the CAPTCHA checkbox (‘I am not a robot’) and then press ‘Search’.
Steps to Check on MUFG Intime India Website:
Visit: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Select the applicable IPO/FPO from the dropdown (visible only if allotment is completed).
Choose one of the three: Application Number, PAN ID, or Demat Account Number.
Enter the necessary information and submit to verify your status.
MUFG Intime India is the SEBI-registered registrar who will deal with the allotment of the IPO, refund, and post-issue investor communication. They arrange for timely credit of shares to the successful applicants and resolve any post-issue complaints.
Grey Market Premium (GMP) Update
Grey Market Premium (GMP), an important market sentiment indicator prior to the listing of the stock, registered a cooling in recent trades. While it was initially oscillating in the range of ₹25 at the close of bidding, it has now narrowed down to the level of ₹5–10 per share, primarily on account of prudent market conditions and lackluster secondary market sentiments. This points to a low listing gain of 2–5% over the higher price band of ₹237.
Although the GMP is not a formal metric, it will sometimes give a glimpse of the possible listing day pop, particularly for retail investors attempting to gauge listing expectations.
Listing Date and Market Debut
IndiQube Spaces shares will be listed on BSE and NSE, and the tentative listing date will be Wednesday, July 30. The final confirmation will be based on completion of share credit and approvals from the regulators. Assuming stable market conditions and investor interest continues, IndiQube Spaces may witness a good listing, even with a cut GMP.
About IndiQube Spaces
Established in 2015 and having its head office in Bengaluru, IndiQube Spaces is transforming workplace infrastructure in India. It offers personalized, technology-enabled, and scalable office solutions for startups, scale-ups, and even mature corporates. From creating corporate headquarters to branch offices and satellite locations, IndiQube provides an end-to-end solution covering real estate, interiors, amenities, and value-added services.
The firm focuses on sustainability, adaptability, and employee experience, making it a popular pick for businesses that want dynamic office space solutions in the post-pandemic era. With the rising demand for hybrid and bespoke workspaces, IndiQube is poised to leverage this emerging trend.
Lead Managers and Registrar
Book-Running Lead Managers (BRLMs):
ICICI Securities
JM Financial
Registrar to the IPO:
MUFG Intime India Pvt Ltd
These players are tasked with ensuring the seamless conduct of the IPO, allotment, and subsequent listing.
IndiQube Spaces’ IPO has generated good interest among retail and institutional investors. Although the GMP has softened, the firm’s sound fundamentals, forward-looking business model, and strategic placement in the flexible workspace sector make it a stock to watch out for on listing.
Until the final allocation and listing, investors are urged to verify their status through proper channels and monitor the stock’s first-day performance. Whether you’re in it for the short-term gains or long-term value, IndiQube Spaces is a significant milestone in India’s unfolding office infrastructure narrative.
