IndiQube Areas information IPO to boost Rs 850 crore

Managed office options supplier IndiQube Areas Restricted has filed its Draft Crimson Herring Prospectus (DRHP) with the Securities and Alternate Board of India (SEBI) to boost funds via an preliminary public providing (IPO ).

The Bengaluru-based firm, based in 2015, plans to boost Rs 750 crore via a recent concern of shares and Rs 100 crore via a suggestion 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, technology-driven work options.

The proceeds from the recent concern will likely be allotted in direction of capital expenditure for organising new facilities (Rs 462.6 crore), reimbursement or prepayment of loans (Rs 100 crore) and common company functions.

As of June 30, 2024, IndiQube operates 103 facilities throughout 13 cities, with a portfolio overlaying 7.76 million sq ft of tremendous built-up space and a complete capability of 1,72,451 seats. Its clientele consists of International Capability Facilities (GCCs), Indian enterprises, unicorns and startups corresponding to Myntra, upGrad, Zerodha, NoBroker, Redbus and Siemens, amongst others.

The corporate reported a complete income of Rs 867.6 crore in FY24, up from Rs 601.2 crore in FY23. Its EBITDA for FY24 stood at Rs 263.4 crores, whereas EBITDA for Q1FY25 stood at Rs 153 crores.

IndiQube’s flagship providing, IndiQube Develop, gives plug-and-play workspaces integrating interiors, expertise, amenities administration and value-added companies. The corporate has additionally diversified its portfolio with 4 extra verticals: IndiQube Bespoke, IndiQube One, MiQube and IndiQube Cornerstone, catering to specialised buyer wants.

In a latest initiative, IndiQube has expanded its board of administrators, welcoming 4 unbiased administrators, together with a feminine unbiased director. The brand new members embrace Naveen Tewari, founder and CEO of InMobi Group; Avalur Gopalaratnam Muralikrishnan, Chartered Accountant; Rahul Matthan, associate at Trilegal; and Sachi Krishana, a human assets veteran.

ICICI Securities Restricted and JM Monetary Restricted are the lead book-running managers for the IPO. The shares will likely be listed on the BSE and the NSE.