Workplace solutions company IndiQube Spaces Ltd has filed preliminary papers with capital markets regulator SEBI to raise 850 crores through an initial public offering (IPO). The IPO of the Bengaluru-based firm consists of a fresh issue of equity shares worth 750 crore and an offer for sale of equity shares aggregating up to 100 crores by the promoters.

According to the Draft Red Herring Prospectus (DRHP), the Bengaluru-based company's IPO consists of a new issue of equity shares valued at 750 crore and an Offer for Sale (OFS) of equity shares aggregating up to 100 crores by the promoters, Rishi Das and Meghna Agarwal.

The plans for IndiQube Space’s new issue are to use 462.6 crore of the proceeds to finance capital expenditures for the opening of new centers, 100 crores to settle debt, and 150,000 for general corporate purposes.

Renowned individual investor Ashish Gupta and venture capital firm WestBridge Capital support the company.

The goal of managed workplace solutions provider IndiQube is to revolutionize the traditional office setting by providing all-encompassing, technologically advanced, and sustainable solutions.

The company's flagship product, IndiQube Grow, is a plug-and-play workplace solution that includes interiors, technology, facility management, and value-added services. To meet the needs of specialized clientele, it has also created four more verticals: IndiQube Bespoke, IndiQube One, MiQube, and IndiQube Cornerstone.

GCC companies, Indian corporates, unicorns, and startups from a variety of industries, including Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, Ninjacart, Siemens, and Narayana Health, are just a few of the industries that IndiQube serves.