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 way of an preliminary public providing (IPO).
The Bengaluru-based firm, based in 2015, plans to lift Rs 750 crore by way of a contemporary subject of fairness shares and Rs 100 crore through 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 and tech-driven office options.
The proceeds from the contemporary subject will probably be allotted in the direction of capital expenditure for establishing new facilities (Rs 462.6 crore), reimbursement or prepayment of borrowings (Rs 100 crore), and normal 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 international functionality facilities (GCCs), Indian corporates, unicorns, and startups reminiscent of 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, expertise, facility 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 consumer wants.
In a current transfer, IndiQube expanded its board, inducting 4 impartial administrators, together with a girl impartial director. The brand new members embrace Naveen Tewari, founder and CEO of the InMobi Group; Avalur Gopalaratnam Muralikrishnan, a chartered accountant; Rahul Matthan, a accomplice at Trilegal; and Sachi Krishana, a veteran in human sources.
ICICI Securities Restricted and JM Monetary Restricted are the book-running lead managers for the IPO. The fairness shares will probably be listed on the BSE and NSE.
