IndiQube Spaces Raises Over ₹314 Crore from Anchor Investors Ahead of IPO

Bengaluru, July 23, 2025 – IndiQube Spaces Limited, a prominent managed workplace solutions company, has successfully raised over ₹314.32 crore from a diverse group of anchor investors. This significant pre-IPO fundraising round comes just a day before its Initial Public Offering (IPO) opens for public subscription.

The shares were allotted to anchor investors at ₹237 per equity share, which is the upper end of the IPO's price band. Key institutional investors who participated in this anchor book include Motilal Oswal Large Cap Fund, Aditya Birla Sun Life MF, Ashoka WhiteOak ICAV & WhiteOak Capital, Invesco India ELSS Tax Saver Fund, Bandhan Large & Mid Cap Fund, and Malabar India Fund & Malabar Midcap Fund.

In addition to these, prominent entities like Max New York Life Insurance, Edelweiss MF, Baroda BNP Paribas, TOCU Europe III S.A R.L., Groww Mutual Fund, BNP Paribas Financial Markets, Citigroup Global Markets Mauritius Private Limited, and Societe Generale were also allotted equity shares as anchor investors.

According to the company's exchange filing, out of the total allocation of 13,262,658 equity shares to anchor investors, a substantial 67.35% (8,932,571 equity shares) was allocated to 8 domestic mutual funds through a total of 21 schemes, highlighting strong domestic institutional confidence.

The IPO of IndiQube Spaces Limited is set to open today, Wednesday, July 23, 2025, and will close on Friday, July 25, 2025. The price band for the IPO has been fixed at ₹225 to ₹237 per equity share. The ₹700 crore IPO comprises a fresh issue of ₹650 crore and an Offer for Sale (OFS) of ₹50 crore by promoters Rishi Das and Meghna Agarwal.

Bengaluru-based venture capital firm WestBridge Capital, which holds a 27.95% pre-offer stake, is not diluting any stake in the current IPO.

IndiQube, founded in 2015, manages a portfolio of 8.40 million sq ft across 115 properties in 15 Indian cities, offering a total seating capacity of 1,86,719 as of March 2025. The company reported a total income of ₹1,103 crore in Fiscal 2025, demonstrating a Compound Annual Growth Rate (CAGR) of 35% from Fiscal 2023. The proceeds from the fresh issue are primarily earmarked for funding capital expenditure for setting up new centers and repayment of certain borrowings.