Exclusive: Coworking Space Provider IndiQube In Talks With Bankers For INR 1,500 Cr IPO

Exclusive: Coworking Space Provider IndiQube In Talks With Bankers For INR 1,500 Cr IPO

SUMMARY

IndiQube is in advanced discussions to finalise the merchant bankers and is aiming to file its DRHP within the next three months

The startup is looking to raise INR 1,000 Cr – INR 1,500 Cr from its IPO, which will largely comprise a fresh issue of shares

The coworking space provider posted a profit of about INR 60 Cr in FY24 on an operating revenue of around INR 850 Cr

Amid the IPO spring on the Indian bourses, Bengaluru-based IndiQube is the latest startup looking to go public. The coworking space provider is in advanced discussions to finalise the merchant bankers and is aiming to file its draft red herring prospectus (DRHP) within the next three months, sources told Inc42.

The startup is looking to raise INR 1,000 Cr – INR 1,500 Cr (about $120-$180 Mn) from its IPO. Its public issue will largely comprise a fresh issuance of shares. Offer for sale (OFS), if present at all, would be quite small as promoters and existing investors are not looking at any major dilutions, one of the sources said.

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