WestBridge Capital- backed workplace provider IndiQube Spaces gets SEBI nod for its ₹850 crore IPO

WestBridge Capital- backed managed workplace provider IndiQube has received capital markets regulator, SEBI’s approval for its IPO debut. The company plans to raise ₹850 crore which includes a combination of a fresh issue of equity shares aggregating up to ₹750 crore and an Offer for Sale (OFS) of equity shares aggregating up to ₹100 crore.

The funds raised will be utilised towards funding capital expenditure, repayment or prepayment, of borrowings; and balance towards general corporate purposes.

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IndiQube had received its observation letter on 24th March 2025, an update with the SEBI showed.

Founded in 2013, IndiQube manages a portfolio of 103 centers across 13 cities. It has a portfolio covering 7.76 million sq.ft of AUM with a total capacity of 172,451 seats as of June 30, 2024. Its clients include GCCs, Indian corporates, unicorns as well as start-ups across sectors with Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, Ninjacart, Siemens, Narayana Health, among others.

The company reported a total income of ₹867.6 crore in FY24 as against ₹601.2 crore in FY23.