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Grapevine

IndiQube Eyes INR 1,500 Cr IPO Amidst Indian Bourse Boom

  • IndiQube is in advanced talks to finalize merchant bankers and aims to file its DRHP within three months.
  • The startup plans to raise INR 1,000 Cr – INR 1,500 Cr from its IPO, mainly through fresh share issuance.
  • IndiQube posted a profit of INR 60 Cr in FY24 on an operating revenue of around INR 850 Cr.
  • Founded in 2015, IndiQube offers managed office spaces and counts WestBridge Capital and Helion Ventures among its backers.
  • The company competes with Awfis and Smartworks, with the latter also filing its DRHP recently.

Source: Inc42

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Indiqube gets an A+ CRISIL rating, owing to its flexible workspace. This rating has given the company a boost. The company has generated Rs. 841 crore in the FY24 which is almost 42% growth in Indiqube IPO. The CRISIL rating marked that the company has been growing fast and the employee’s performance has been solid in making this mark. A diversified client base and flexible workspace, all have led to Indiqube’s development.

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