Indiqube Spaces IPO will be launched for bidding on July 23. The investors can place their bids on the issue till July 25. The bookbuilding issue will mop up Rs 700 crore from the primary markets. The IPO is a combination of fresh issue of 2.74 crore shares, which totals Rs 650 crore and an offer for sale of 0.21 crore shares aggregating to Rs 50 crore.
Indiqube Spaces IPO: GMP
Indiqube Spaces shares were fetching a grey market premium of 12.66%, which has fallen from 17%. Currently, the shares of the company are trading at a price of Rs 267.
The grey market is an unofficial place where shares change hands illegally.
Indiqube Spaces IPO: Allotment and listing
Indiqube Spaces IPO allotment is expected to be finalised on July 28, while the listing is likely to be on BSE and NSE on July 30, as per the tentative schedule.
Indiqube Spaces IPO: Lot size and investment
The company has set the price band in a range of Rs 225 to Rs 237 per equity share. A retail investor needs to bid for a minimum of 63 shares in a lot, amounting to Rs 14,175.
A small non-institutional investor (NII) has to bid for a minimum of 14 lots of 882 shares, amounting to Rs 2 lakh, while a big NII investors need to bid for 67 lots of 4,221 shares, which would sum to Rs 10 lakh.
Indiqube Spaces IPO: Objectives of the issue
The company will use the IPO proceeds to fund the capital expenditure towards the establishment of new centres and the payment of certain borrowings. Apart from that, some part of the fund would also be used for general corporate purposes.
Indiqube Spaces IPO: Employee reservation
The issue includes an employee reservation, which means there’s a separate quota for the company’s employees. The company has kept aside up to 63,291 shares for employees, which will be offered to them at a discount of Rs 22 to the issue price.
Indiqube Spaces IPO: Lead managers
ICICI Securities is the book-running lead manager of the Indiqube Spaces IPO, while MUFG Intime India Pvt. Ltd. (Link Intime) is working as the registrar for the issue.
About Indiqube Spaces
Indiqube Spaces provides managed, sustainable, and tech-driven workplace solutions, aiming to transform the traditional office experience for modern businesses. It was incorporated in the year 2015. The company provides a range of workplace solutions, which includes corporate hubs and branch offices.