Office space startup IndiQube has filed a DRHP with SEBI for an INR 850 crore IPO

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Founded in 2015, IndiQube provides clients with a 'office in a box' experience that includes workplace design, interior build out, and other services

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The IndiQube’s IPO would consist of a new issue of shares worth up to INR 750 crore and an offer for sale (OFS) of up to INR 100 crore

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Rishi Das and Meghna Agarwal, the promoters and cofounders, will sell some of their shares through the OFS

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ICICI Securities and JM Financial are the book running lead managers for the offering. The company's shares will be listed on both the BSE and the NSE

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INR 462.6 Cr of the funds will be used to create new centres, INR 100 crore to settle certain borrowings, and the remainder for general corporate reasons

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Net loss increased 72% to INR 341.51 Cr in FY24, from INR 198.11 Cr in FY23. Revenue for FY24 was INR 867.66 crore, up 44% from INR 601.28 Cr in FY23

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It is backed by WestBridge Capital, Helion Ventures' Ashish Gupta, and Aravali Investment Holdings

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IndiQube's board of directors issued a resolution in November to rename the company "IndiQube Spaces Limited" from "IndiQube Spaces Private Limited."

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Innov8, 91springboard, Spring House, Incuspaze, and COWRKS are also planning IPOs in the near future

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