Cyril Amarchand Mangaldas Advised ICICI Securities and JM Financial on Indiqube Spaces Limited IPO
The leading Indian law firm Cyril Amarchand Mangaldas advised the book running lead managers, ICICI Securities Limited and JM Financial Limited, in connection with the initial public offering (IPO) of Indiqube Spaces Limited (formerly known as Indiqube Spaces Private Limited and Innovent Spaces Private Limited).
Indiqube is a managed workplace solutions company providing comprehensive, sustainable, and technology-driven workplace solutions dedicated to transforming the traditional office experience.
The IPO of 29,542,340 equity shares of face value ₹1 each for cash at a price of ₹237 per share, aggregating to ₹7,000 million, comprised a fresh issue of 27,432,636 equity shares aggregating to ₹6,500 million and an offer for sale of 2,109,704 equity shares aggregating to ₹500 million by the Promoter Selling Shareholders.
The equity shares were listed on the stock exchanges on July 30, 2025, at an issue price of ₹237 and were subscribed 12.41 times overall — with retail subscription at 12.90 times, the Qualified Institutional Buyers (QIB) portion at 14.35 times, and the Non-Institutional Investors (NII) segment at 8.27 times.
The Cyril Amarchand Mangaldas team was led by Reuben Chacko (Partner & Regional Co-Head – Capital Markets – South) and Vartika Jain (Partner), with support from Dhruv Sharma (Associate), Akhil Sreenadhu (Associate), and Zubin Ronnie (Associate).
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