Electronic company GNG's initial public offering (IPO) oversubscribed an impressive 148 times, while Indiqube's offer met a strong demand of over 12.4 times.
Indiqube Spaces Limited's IPO
The Indiqube Spaces IPO, launched between July 23-25, 2025, offers a total issue size of approximately Rs 700 crore. The IPO is to be listed on both BSE and NSE, with a minimum lot size of 63 shares.
Indiqube Spaces Limited, a Bengaluru-based firm established in 2015, provides technology-driven managed workplace solutions to a diverse client base. As of March 31, 2025, it manages 115 centres across 15 cities with a total area of 8.4 million sq ft and approximately 186,700 seats. The company aims to use the IPO proceeds for capital expenditure to expand its business footprint, repayment of borrowings, and general corporate purposes.
The IPO witnessed very strong investor interest, oversubscribed 13 times overall. Qualified Institutional Buyers (QIBs) showed the highest subscription at over 15 times their portion, while retail investors subscribed approximately 13.28 times, and non-institutional investors about 8.68 times.
Indiqube is positioned in the rapidly growing flexible workspace sector in India, driven by increasing demand for managed office spaces from corporates and startups adapting to hybrid work models. A significant presence in major cities with a large portfolio of centres and seats provides a competitive edge. The focus on capital expenditure and debt reduction may strengthen its financials and support future growth. Listing on major exchanges (BSE, NSE) provides liquidity and access to a wider investor base. Continued promoter holding and experience signal commitment and stability.
However, the success and post-listing performance could be influenced by overall market conditions for real estate and managed workspaces. The sector is competitive, and performance depends on sustained occupancy rates and cost management. The price band reflects the company’s growth prospects, but investors should assess valuation multiples compared to peers.
GNG Electronics IPO
The initial public offering (IPO) of GNG Electronics closed today with a strong response, generating a subscription of nearly 148 times. The company operates under the brand "Electronics Bazaar," with a presence across the full refurbishment value chain, from sourcing to refurbishment, sales, and after-sales services, as well as warranty provision.
As part of the IPO, the company raised ₹138.13 crore from 14 anchor investors. The quota for NIIs was subscribed 8.27 times. Retail investors were the most aggressive, subscribing their portion 12.90 times. The remainder of the proceeds will be used for general corporate purposes.
GNG Electronics is one of the leading refurbishers of laptops and desktops with significant presence across India, the US, Europe, Africa, and the UAE. The high subscription level suggests robust investor confidence and demand.
Investors should weigh the opportunities presented by these IPOs against sector risks and valuation before making investment decisions.
- The proceeds from Indiqube Spaces Limited's IPO will be utilized for capital expenditure to expand its business, repayment of borrowings, and general corporate purposes.
- The IPO of Indiqube Spaces Limited, offering a total issue size of around Rs 700 crore, was oversubscribed 13 times overall with strong investor interest.
- GNG Electronics, a company operating under the brand "Electronics Bazaar," raised ₹138.13 crore from 14 anchor investors through its IPO and witnessed a subscription of nearly 148 times.
- The IPO of GNG Electronics, a leading refurbisher of laptops and desktops with a significant presence across various regions, saw robust investor confidence and demand with a high subscription level.
- Investors ought to consider the opportunities presented by these IPOs, assessing sector risks and valuations, before making investment decisions.
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