Indiqube Spaces Makes a Shaky Market Debut Amid IPO Buzz
Indiqube Spaces, a workspace solutions company, saw its shares list at a nearly 9% discount against the issue price of Rs 237, closing at Rs 218.70 on the BSE. The company's Rs 700-crore IPO, heavily subscribed, aims to fund new centers and other corporate needs.
- Country:
- India
Indiqube Spaces Ltd, a provider of workspace solutions, witnessed a bumpy start in the stock market with its shares debuting at a 9% discount. The firm's shares began trading at Rs 218.70 on the BSE, a notable drop from its issue price of Rs 237 per share.
Despite this rocky beginning, the initial public offering (IPO) of Rs 700 crore saw significant interest, being subscribed 12.33 times by the close of bidding. The IPO included a fresh issue of Rs 650 crore and an Offer For Sale (OFS) totaling Rs 50 crore.
The Bengaluru-based company plans to allocate Rs 462.6 crore of the capital raised towards establishing new centers and Rs 93 crore towards debt repayment, with the remaining amount earmarked for general corporate purposes. Managing a portfolio of extensive properties across multiple cities, Indiqube Spaces envisions significant expansion.
(With inputs from agencies.)
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- Indiqube
- IPO
- stock market
- workspace solutions
- BSE
- shares
- subscription
- expansion
- valuation
- Bengaluru
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