IndiQube Spaces IPO Lists At Nearly 9% Discount: Should You Buy, Hold Or Sell?

News18

Last Updated:July 30, 2025, 16:57 IST

IndiQube Spaces Listing: The stock makes its market debut at Rs 216 on the NSE, a decline of 8.86 per cent from the issue price.

IndiQube Spaces IPO Listing.

IndiQube Spaces IPO Listing: Workplace solutions firm IndiQube Spaces Ltd made a weak market debut on Wednesday, July 30, 2025. Its shares were listed at a discount of nearly 9 per cent against the issue price of Rs 237. On the BSE, the stock made its market debut at Rs 218.70, a decline of 7.72 per cent from the issue price.

Shares of the firm listed Rs 216, down 8.86 per cent on the NSE.

The stock ended the day at Rs 217.97 on the NSE, which is 8.03% down as compared with the issue price of Rs 237.

The company’s market valuation stood at Rs 4,425.99 crore.

The initial public offer of IndiQube Spaces Ltd got subscribed 12.33 times on the closing day of bidding on Friday last week. The Rs 700-crore initial public offer (IPO) of the Bengaluru-based firm had a price band of Rs 225-237 per share.

The IPO had a fresh issue of Rs 650 crore and an Offer For Sale (OFS) of Rs 50 crore.

IndiQube Spaces IPO Share Price: Should You Buy, Sell Or Hold?

“The muted debut of IndiQube Spaces, listing nearly 8-9% below its issue price, clearly reflects market skepticism around valuation and the absence of near-term profitability. For short-term investors, the lack of listing gains and subdued grey market sentiment offer little incentive to enter at current levels. We believe any upside in the near term will be speculative and not fundamentally driven,” Sourav Choudhary, managing director of Raghunath Capital said.

From a long-term investment lens, IndiQube’s business model remains relevant in a post-COVID world where flexible, managed workspaces are gaining traction. The company’s strong EBITDA margins and focused enterprise clientele offer scalability potential, especially if it can diversify beyond its heavy Bengaluru concentration. Investors with a 3-5 year horizon and higher risk appetite may consider staggered exposure, preferably on corrections, as the company works toward profitability, he added.

“We are maintaining a ‘Neutral to Selective Long-Term Accumulate’ stance on Indiqube Spaces, with a close watch on its quarterly performance, cost structure, and expansion strategy beyond southern markets,” Choudhary said.

IndiQube Spaces proposes to utilise the fresh capital to the tune of Rs 462.6 crore towards funding capex for setting up new centres, Rs 93 crore for repayment and the rest for general corporate purposes.

The company, which was incorporated in 2015, manages a portfolio of 8.40 million square feet across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025.

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Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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