Managed office space provider IndiQube has taken a significant step toward going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday, December 24. The company wants to raise ₹850 crores with the help of its IPO.

Shares Worth ₹750 Crore

The IPO will consist of a fresh issue of shares worth ₹750 crore and an Offer for Sale (OFS) amounting to ₹100 crore. The fresh issue proceeds will primarily be utilized to expand the company’s operations and establish new centers. Out of the total funds, IndiQube plans to allocate ₹462.2 crore for setting up new centers across strategic locations.

Additionally, ₹100 crore from the proceeds will be directed towards repaying certain debts, easing the company's financial obligations. The remaining funds will be used to meet general corporate purposes, ensuring flexibility in addressing operational needs and potential opportunities.

About Company 

IndiQube, known for providing tailored workspace solutions for startups, SMEs, and enterprises, has grown significantly in the flexible office space market. The IPO marks a critical milestone in its journey, providing the company with resources to fuel its expansion plans and strengthen its presence in a competitive market.

With the increasing demand for flexible office solutions post-pandemic, IndiQube’s public offering comes at an opportune time. The move not only reflects the company’s confidence in its growth trajectory but also highlights the potential of the managed office space sector in India. In OFS, promoters and cofounders Rishi Das and Meghna Agarwal will sell some of their shares with the help of OFS.

IndiQube Update 

A big news is coming out related to IndiQube, a company providing managed office space. The company has taken a necessary step towards going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday, December 24.