Managed workspace provider IndiQube has filed its Draft Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI) for a proposed Initial Public Offering (IPO) worth ₹700 crore. The move marks a significant milestone for the Bengaluru-based company as it looks to strengthen its market presence and expand operations.
IndiQube’s equity shares are set to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). IndiQube IPO will open for public subscription on July 23, 2025, and will close on July 25, with the anchor book opening on July 22.
According to the financials included in the RHP, IndiQube has managed to reduce its net loss by 58%, bringing it down to ₹141 crore in FY25 from ₹341 crore in FY24. This improvement is largely driven by strong revenue growth and effective cost controls, despite high fixed expenses such as depreciation and finance charges.
IndiQube reported a 28% increase in operating revenue, which rose to ₹1,059 crore in FY25, up from ₹830 crore in FY24. The bulk of this revenue—over 82% or ₹870 crore—came from rental services, which form the core of its business model.
In addition to rentals, the company earned from the following sources:
It also earned ₹44 crore from non-operating sources, taking the total revenue for FY25 to ₹1,103 crore.
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Despite expansion, total expenses were nearly flat, increasing only marginally to ₹1,260 crore in FY25 from ₹1,252 crore the previous year. Major cost components included:
This stable expense base, in conjunction with revenue growth, played a pivotal role in narrowing the company's losses.
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Published on: Jul 22, 2025, 11:53 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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