IndiQube increases with 3.2 lakh sq ft in Bangalore and eyes 11.47 mn sq ft under management by 2028

To extend its presence in India’s workspace market, IndiQube Spaces Limited has leased 320,000 sq ft across 3 huge towers in the Central Business District, Bangalore. It is now branded as IndiQube Symphony. It is a part of a renovation project that is planned over a 15 year lease. It reflects IndiQube’s confidence in the real estate market of Bangalore.

Driving Growth with Bold Vision and New Funding

IndiQube is now planning to add a huge space of 3 million sq ft of flexible work space in 3 years. They have Rs. 650 Crores IPO fundraise, and Rs. 462.6 Crores kept for new centre capex. It will boost its assets to 11.47 million sq ft by 2028. It will mark the company’s intent to lead as the top in India’s managed workspace area.

Bangalore will develop at a great scale with this growth, as 1.7 million sq ft of new workspace will be added for the city. By the end of the year 2028, IndiQube’s total assets will reach up to 7.2 million sq ft in Bangalore city alone. Currently, they have 115 centres across 15 major cities of India with 8.4 million sq ft under management. Out of this, Bangalore alone accounts for 65 huge centres with 5.43 million sq ft of assets.

IndiQube’s Expansion to Multiple Cities

IndiQube is now planning to expand to other major cities of India like Chennai, and it will grow by 740,000 sq ft. In other tier-2 cities, there will be an increase of 360,000 sq ft of space. Their new hub and spoke model enables testing small properties and promises capital deployment. IndiQube raised over Rs. 314 crores from anchor investors at Rs. 237 per equity share, which shows a sturdy market trust.

The Anchor Investors Are

Bandhan
Aditya Birla Sun Life MF
WhiteOak Capital
Motilal Oswal Mutual Fund

Now, they have reported a revenue of 35% from 2023 to 2025. Their FY25 income is at Rs. 1,103 Crore, and their EBITDA is Rs. 660 Crores. It boasts its high occupancy levels of 87% in other steady state centres. IndiQube’s growth plans align with the dynamic market and make it a leader in shaping India’s office landscape.

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