Managed office options supplier IndiQube Areas Restricted has filed its draft crimson herring prospectus (DRHP) with the Securities and Trade Board of India (SEBI) to lift funds by an preliminary public providing (IPO).
The Bengaluru-based firm, based in 2015, plans to lift Rs 750 crore by a contemporary difficulty of fairness shares and Rs 100 crore through a proposal on the market (OFS) by its promoter-selling shareholders, Rishi Das and Meghna Agarwal. Backed by WestBridge Capital and particular person investor Ashish Gupta, IndiQube goals to revolutionize conventional workplace areas with sustainable and tech-driven office options.
The proceeds from the contemporary difficulty will likely be allotted in the direction of capital expenditure for establishing new facilities (Rs 462.6 crore), compensation or prepayment of borrowings (Rs 100 crore), and common company functions.
As of June 30, 2024, IndiQube manages 103 facilities throughout 13 cities, with a portfolio spanning 7.76 million sq. ft of tremendous built-up space and a complete seating capability of 1,72,451. Its clientele contains world functionality facilities (GCCs), Indian corporates, unicorns, and startups resembling Myntra, upGrad, Zerodha, NoBroker, Redbus, and Siemens, amongst others.
The corporate reported a complete revenue of Rs 867.6 crore in FY24, up from Rs 601.2 crore in FY23. Its FY24 EBITDA stood at Rs 263.4 crore, whereas Q1FY25 EBITDA reached Rs 153 crore.
IndiQube’s flagship providing, IndiQube Develop, gives plug-and-play workspaces integrating interiors, know-how, facility administration, and value-added providers. The corporate has additionally diversified its portfolio with 4 further verticals: IndiQube Bespoke, IndiQube One, MiQube, and IndiQube Cornerstone, catering to specialised shopper wants.
In a latest transfer, IndiQube expanded its board, inducting 4 impartial administrators, together with a girl impartial director. The brand new members embody Naveen Tewari, founder and CEO of the InMobi Group; Avalur Gopalaratnam Muralikrishnan, a chartered accountant; Rahul Matthan, a companion at Trilegal; and Sachi Krishana, a veteran in human assets.
ICICI Securities Restricted and JM Monetary Restricted are the book-running lead managers for the IPO. The fairness shares will likely be listed on the BSE and NSE.
