Shares of workplace solutions company Indiqube Spaces Ltd on Wednesday listed with a discount of nearly 9% against the issue price of ₹237.
At the BSE, the stock made its market debut at ₹218.70, a decline of 7.72% from the issue price.
Shares of the firm listed a ₹216, down 8.86% on the NSE.
The company's market valuation stood at ₹4,425.99 crore.
The initial public offer of IndiQube Spaces Ltd got subscribed 12.33 times on the closing day of bidding on Friday last week.
The ₹700-crore initial public offer (IPO) of the Bengaluru-based firm had a price band of ₹225-237 per share.
The IPO had a fresh issue of ₹650 crore and an Offer For Sale (OFS) of ₹50 crore.
IndiQube Spaces proposes to utilise the fresh capital to the tune of ₹462.6 crore towards funding capex for setting up new centres, ₹93 crore for repayment and the rest for general corporate purposes.
The company, which was incorporated in 2015, manages a portfolio of 8.40 million square feet across 115 properties in 15 cities with a total seating capacity of 1,86,719 as of March 2025.
