Indiqube Spaces Ltd.’s IPO Subscription Update
Workspace solutions provider Indiqube Spaces Ltd.’s initial public offering has fully subscribed on the second day of bidding on Thursday. The IPO had a strong start as it was subscribed 87% on the first day.
Key Details of the IPO
The IPO opened for bidding on Wednesday, July 23, and is set to close on July 25. The price band for the Indiqube Spaces IPO ranges between Rs 225 and Rs 237 per share.
The total IPO size amounts to Rs 700 crore, with a fresh issue of shares worth Rs 650 crore and an offer-for-sale portion of Rs 50 crore. Each IPO lot consists of 63 shares.
Prior to the IPO opening, the company secured Rs 314 crore from anchor investors on Tuesday, July 22.
Utilization of IPO Proceeds
Bengaluru-based Indiqube Spaces intends to utilize Rs 462.65 crore from the IPO funds to establish new centres, with an additional Rs 93 crore earmarked for repaying borrowings. The remaining funds will serve general corporate purposes.
ICICI Securities is overseeing the IPO as the lead manager, with MUFG Intime India as the issue registrar. The anticipated listing date for Indiqube Spaces shares is July 30 on both the NSE and BSE.
