IndiQube Spaces and GNG Electronics Go Public IndiQube Spaces Limited is launching a INR 7,000 million IPO on July 23, 2025, to fund its expansion and tech infrastructure as it scales its flexible workspace solutions across India. GNG Electronics Limited is also going public, with a INR 400 crore fresh issue and OFS component, aiming to repay borrowings and support general corporate needs.
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IndiQube Spaces Limited, formerly known as IndiQube Spaces Private Limited and Innovent Spaces Private Limited, has announced the launch of its Initial Public Offering (IPO) set to open on Wednesday, July 23, 2025. The public listing marks a significant milestone for the Bengaluru-based flexible workspace company as it seeks to strengthen its market presence and fund future growth.
The IPO consists of a fresh issue of equity shares aggregating up to ₹6,500 million, alongside an Offer for Sale (OFS) of shares worth ₹500 million by the company's promoter selling shareholders, Rishi Das and Meghna Agarwal. The total offer size amounts to ₹7,000 million.
The price band for the IPO has been fixed at ₹225 to ₹237 per equity share of face value ₹1 each. Interested investors can place bids for a minimum of 63 equity shares and in multiples thereafter.
The Anchor Investor bidding will open on Tuesday, July 22, 2025, a day prior to the official IPO launch. The issue will close on Friday, July 25, 2025.
The offering also includes a special Employee Reservation Portion, with shares worth ₹15 million reserved for subscription by eligible employees. As a further incentive, eligible employees bidding in this portion will receive a discount of ₹22 per share.
The proceeds from the fresh issue are expected to support IndiQube's expansion plans, including the development of new workspaces and strengthening of its technology infrastructure, as the company rides the momentum in India's growing demand for hybrid and flexible work solutions.
With a strong foothold across key metros and Tier-I cities, IndiQube has built a differentiated model catering to startups, SMEs, and large enterprises looking for managed office spaces. The upcoming IPO is expected to provide the company with greater visibility, financial flexibility, and a broader investor base as it scales operations across India.
Speaking about the IPO at the press conference, Rishi Das, Co-founder of IndiQube, said, "In 2013, we decided to pick up a hundred-thousand square feet office in Bangalore — 50% for CareerNet, and 50% we gave out to clients. That's when people started asking, 'Can I use your boardroom once a month? Can I use your training room?' We were providing food, transport, and more. That's when we realized there was a big gap in the market. You either had tech parks or really swanky buildings like the ones in BKC or UB City, but there was no concept of branded, functional office spaces that were accessible and affordable. That's where IndiQube was born."
GNG Electronics IPO
GNG Electronics Limited has announced that it will list its equity shares with the anchor investor bidding date closing on July 25, 2025.
The total offer size comprises a fresh issue of equity shares of face value of INR 2 each, aggregating up to INR 400 Crores, and an offer for sale of up to 2,550,000 equity shares of face value of INR 2 each.
The price Band of the issue is fixed at INR 225 -237 per equity share.
The company said that bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter. The Company proposes to utilize the Net Proceeds towards the prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and the Material Subsidiary, namely, Electronics Bazaar FZC, and general corporate purposes.
