IndiQube, the Bengaluru-based workspace solutions company, has generated significant investor enthusiasm by securing Rs 374 crore from anchor investors just before its highly anticipated IPO opened for public subscription today on July 23rd.
The fundraising round attracted some of India’s most respected institutional investors, showcasing strong confidence in the managed workspace sector.
Major investors like Aditya Birla Sun Life Mutual Fund, Motilal Oswal, Invesco India, and Edelweiss MF participated in the funding round.
International players like BNP Paribas Financial Markets, Societe Generale, and Citigroup Global Markets also participated, demonstrating global interest in India’s flexible workspace market.
What’s noteworthy is how domestic mutual funds dominated the allocation, securing over 67% of the anchor shares across 21 different schemes from 8 fund houses.
This strong domestic participation suggests Indian institutional investors see real potential in IndiQube’s business model.
The company’s recent financial performance certainly backs up this optimism. IndiQube crossed the Rs 1,000 crore revenue milestone in FY25, posting impressive 27.5% year-over-year growth.
More importantly, they’ve improved their bottom line, reducing losses by 58% to Rs 141 crore from Rs 341 crore the previous year.
Founded in 2015, IndiQube has built an impressive portfolio of 103 centers across 13 cities, including tier-II markets.
Their client list includes household names like Myntra, Zerodha, upGrad, and Redbus, showing they’ve successfully captured both established companies and growing startups.
From the company’s Rs 700 crore IPO, most of the money will go toward expanding operations.
IndiQube plans to add 3 million square feet of new workspace over the next three years as more companies embrace flexible office space.