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Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses

EntrackrEntrackr · 7m ago
Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses
Medial

Indiqube posts Rs 309 Cr revenue in Q1 FY26; controls losses Managed workspace solutions provider Indiqube has posted its quarterly results for the first time since being listed on NSE on July 30, 2025. The company grew 27% while controlling its losses in the first quarter of the ongoing fiscal year (Q1 FY26). The company’s revenue from operations rose to Rs 309 crore in Q1 FY26 from Rs 242 crore in Q1 FY25, according to its financial statement sourced from the National Stock Exchange (NSE). IndiQube reported a total income of Rs 324 crore in Q1 FY26, a significant increase from Rs 251 crore in Q1 FY25. This growth was largely driven by Rs 15 crore earned from other income during the quarter. The company did not disclose a revenue breakdown for the quarter. On the expense side, employee benefits increased 18% to Rs 20 crore in Q1 FY26. Finance cost accounted for 29% of the expense which increased 49% to Rs 110 crore in Q1 FY26 from Rs 74 crore in Q1 FY25, while depreciation and amortization rose to Rs 143 crore. Overall, Indiqube’s total expenses for the quarter increased 29% to Rs 374 crore from Rs 290 crore in Q1 FY25. At the end, the firm reported a 12% decrease in its loss to Rs 37 crore in Q1 FY26 as compared to Rs 42 crore in Q1 FY25. However, due to finance and depreciation accounting for nearly 68% of the expense, Indiqube reported positive EBITDA of Rs 203 crore in Q1 FY26. On a unit basis, the company spent Rs 1.21 to earn a rupee of operating revenue. We have reported numbers according to the Indian Accounting Standards whereas for IGAAP Eq. revenue and profit stood at Rs 313 crore and Rs 19 crore respectively for the quarter Q1 FY26. Indiqube Spaces’ Rs 700 crore IPO, comprising a Rs 650 crore fresh issue and Rs 50 crore offer for sale, was open from July 23–25, 2025, at a price band of Rs 225–Rs 237 per share. The company raised Rs 374 crore from anchor investors at the upper band before the issue, which was oversubscribed 12.41 times overall. Despite a grey market premium indicating a possible 4–10% listing gain, the shares debuted weak on July 30, 2025, listing at Rs 216 on the NSE and Rs 218.70 on the BSE at an 8.9% and 7.7% discount to the issue price, respectively. Currently, Indiqube’s share price is trading at Rs 219.81, giving it a total market capitalization of Rs 4,634 crore (about $528 million).

Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr

EntrackrEntrackr · 7m ago
Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr
Medial

Indiqube Spaces lists at discount; market cap hovers at Rs 4,400 Cr Flexible workspace provider Indiqube Spaces made a muffled debut on the stock exchange on Wednesday, listing at Rs 216 on the NSE (National Stock Exchange), a 9% discount to its issue price of Rs 237. While the listing saw a strong response to its Rs 700 crore public offer, which included Rs 650 crore of new shares and Rs 50 crore sold by existing investors, the issue was oversubscribed more than 12 times. Most of the demand came from large institutional investors. At the same time, retail investors bid nearly 13 times the number of shares available to them, while the non-institutional (high-net-worth) category was subscribed to over 8 times. Founded in 2015, Indiqube provides managed workspace solutions to startups, enterprises, and SMEs, with a presence across major Indian cities. The company plans to use the IPO proceeds primarily to repay debt, fund capex, and for general corporate purposes. The tepid listing puts pressure on the company to deliver on its growth plans amid increasing competition in the flexible office segment. While the IPO attracted marquee anchor investors, with investments of Rs 374 crore from HDFC MF, ICICI Pru, Nippon Life, and White Oak, public market investors appear to be treading cautiously. Financially, IndiQube reported a 27.5% YoY revenue growth, clocking Rs 1,059 crore in FY25, compared to Rs 830 crore in FY24. The company also cut its losses by 59% to Rs 139.5 crore, from Rs 341.5 crore a fiscal earlier. Indiqube was trading at Rs 210.85 (as of 11.15 AM) on NSE with a total market capitalization of Rs 4,428 crore (approximately $521 million). It competes with Awfis, which debuted on the stock exchanges in May last year with a strong listing, opening at a 13% premium to its issue price. Smartworks, which went public earlier this month, also saw a positive start, listing at a 7% premium.

Table Space gears up for Rs 1,000 Cr IPO; to raise Rs 200 Cr in pre-IPO round

EntrackrEntrackr · 13d ago
Table Space gears up for Rs 1,000 Cr IPO; to raise Rs 200 Cr in pre-IPO round
Medial

Table Space, a managed workspace startup, is preparing for an initial public offering (IPO). The issue is likely to comprise a fresh issue of shares worth up to Rs 1,000 crore, along with an offer for sale (OFS) component. Ahead of the public issue, the company cleared a Rs 200 crore pre-IPO fundraise through private placement, which was approved at an extraordinary general meeting (EGM) held earlier last month. According to filings submitted to the Ministry of Corporate Affairs (MCA), the upcoming pre-IPO fundraising round is equivalent to 20% of the total fresh issue size, implying that the fresh issue component of the IPO is estimated to be approximately Rs 1,000 crore. Founded by Amit Banerji in 2017, Table Space provides customized coworking spaces and claims to have a capacity of more than 10 million square feet with 290 unique clients over 7 cities, including Bengaluru. On the financial side, Table Space crossed the Rs 1,000 crore revenue mark by increasing 50% year-on-year to Rs 1,360 crore in FY25 from Rs 906 crore in FY24. Excluding the exceptional item, the company’s profit spiked nearly 3X to Rs 14.6 crore in the same period. It's important to note that Table Space reported an exceptional item of Rs 1,568 crore, which rose from a non-cash fair valuation loss on its CCPS-A instruments. These preference shares are structured to convert into equity only immediately before a liquidation event (such as IPO), or earlier with investor consent. Table Space will enter an increasingly crowded and fast-evolving flex-workspace market, competing with several listed peers in India. Key players already trading on the stock exchanges include WeWork India Management, Smartworks Coworking Spaces, IndiQube Spaces, and Awfis Space Solutions. WeWork India, often viewed as the largest by revenue and scale among these, has led the sector’s recent IPO wave and commands significant market presence.

IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58%

EntrackrEntrackr · 7m ago
IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58%
Medial

IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58% IndiQube, a provider of managed workspace solutions, submitted its red herring prospectus (RHP) to SEBI for a proposed Rs 700 crore Initial Public Offering (IPO) last week. The company's financial report indicates a 57% reduction in net loss, attributed to revenue growth and controlled costs. Indiqube’s revenue from operations increased by 28% to Rs 1,059 crore in FY25 from Rs 830 crore in FY24, according to its restated financial statement filed in the RHP. IndiQube derives the majority of its income from rental services, which accounted for Rs 870 crore or over 82% of its total operating revenue. Other income sources included the sale of goods (Rs 66 crore), maintenance charges (Rs 51 crore), electricity charges (Rs 33 crore), and others (Rs 39 crore). The company also made additional Rs 44 crore from non-operating sources, which pushed its total revenue to Rs 1,103 crore in FY25. For the managed space providing firm, depreciation cost related to lease stood at Rs 487 crore, accounting for 39% of the total expense, followed by finance costs, which were recorded at Rs 330 crore. Employee benefit expenses rose to Rs 76 crore while material cost stood at Rs 52 crore during the year. Overall, total expenses remained largely flat at Rs 1,260 crore in FY25 from Rs 1,252 crore a year ago. Despite the high depreciation and finance costs, IndiQube’s near-flat expenses coupled with its top-line expansion helped the company to cut losses by 58% to Rs 141 crore in FY25, as compared to Rs 341 crore in FY24. The Bengaluru-based company spent Rs 1.2 to earn a Rupee of operating revenue in FY25. The company recorded current assets worth Rs 210 crore in FY25, including Rs 61 crore in Cash and bank balances. IndiQube’s equity shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The issue will open for subscription on July 23, 2025, and close on July 25, with the anchor book opening on July 22.

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