IPO Update, April 1 -- IndiQube, a company specialized in managed workplace solutions, has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs.850 crore through an initial public offering (IPO).

The company, based in Bengaluru, submitted its Draft Red Herring Prospectus (DRHP) in December 2024 and received the observation letter on March 24, 2025, as indicated by an update from SEBI.

As per the DRHP, the planned IPO consists of a Fresh Issue of equity shares amounting to Rs. 750 crore and an Offer for Sale (OFS) of equity shares totaling Rs. 100 crore. IndiQube intends to allocate Rs. 426.6 crore from the net proceeds of the fresh issue for capital expenditure, Rs.100 crore for repayment or prepayment of...