Indiqube Spaces makes muted market debut; shares drop nearly 9 pc

New Delhi, Jul 30 (PTI) Shares of workplace solutions company Indiqube Spaces Ltd on Wednesday listed with a discount of nearly 9 per cent against the issue price of Rs 237.

At the BSE, the stock made its market debut at Rs 218.70, a decline of 7.72 per cent from the issue price.

Shares of the firm listed a Rs 216, down 8.86 per cent on the NSE.

The company's market valuation stood at Rs 4,425.99 crore.

The initial public offer of IndiQube Spaces Ltd got subscribed 12.33 times on the closing day of bidding on Friday last week.

The Rs 700-crore initial public offer (IPO) of the Bengaluru-based firm had a price band of Rs 225-237 per share.

The IPO had a fresh issue of Rs 650 crore and an Offer For Sale (OFS) of Rs 50 crore.

IndiQube Spaces proposes to utilise the fresh capital to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and the rest for general corporate purposes.

The company, which was incorporated in 2015, manages a portfolio of 8.40 million square feet across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025. PTI SUM SUM DR DR