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Shares of workspace solutions provider IndiQube Spaces Ltd made a weak debut on the bourses today, listing at INR 218.7 apiece on the BSE, down 7.7% from the issue price.
On the NSE, it listed at INR 216, a discount of 8.8% over its IPO price of INR 237.
Notably, the IPO of the coworking space company closed with an oversubscription of 12.4X, with investors bidding for 21.2 Cr shares as against 1.71 Cr shares on offer.
The qualified institutional buyers’ (QIBs) made a last-minute dash for the IPO, emerging as the most subscribed category at 14.3X. The portion received bids for 13.3 Cr shares against the 93.1 Lakh shares on offer.
IndiQube’s INR 700 Cr IPO comprises a fresh issue of INR 650 Cr and an INR 50 Cr offer for sale (OFS) by cofounders and promoters Rishi Das and Meghna Agarwal, who are the lone selling stakeholders in the public listing.
The stock was down 11.5% at INR 209.75 per share on the BSE, as of 10:45 AM.
Market capitalisation of IndiQube stood at INR 4,404.99 Cr ($504.9 Mn).
(The story will be updated soon.)
The post IndiQube Shares Make Muted D-Street Debut, List At 9% Discount appeared first on Inc42 Media.
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