IndiQube transitions to public limited company ahead of IPO

Bengaluru-based workspace management and co-working solutions provider IndiQube has reclassified into a public limited company from a private limited company. The company was renamed as IndiQube Spaces Limited, according to a regulatory filing.

This transition comes ahead of its IPO debut. The startup reportedly plans to raise ₹1,000–1,500 crore through the IPO.

The company reported a net profit of ₹20.63 crore in FY23, compared to a loss of ₹18.82 crore in FY22. Its operating revenue surged by 69 per cent to reach ₹592.41 crore. The company aims to achieve a net profit of ₹100 crore in FY25.

Founded in 2015 by Rishi Das and Meghna Agarwal, the company is backed by WestBridge Capital, Helion Ventures’ Ashish Gupta, and Aravali Investment Holdings.