About Indiqube Spaces Limited

Indiqube Spaces Limited is an India-based provider of managed commercial workspaces. The company was formerly known as Indiqube Spaces Private Limited and Innovent Spaces Private Limited, and its registered office is in Bengaluru, Karnataka (CIN: U45400KA2015PLC133523). Indiqube’s core business is leasing managed office spaces with equipped premises; management identifies this as a single business segment for accounting purposes. Alongside space solutions, the company offers one-stop managed office services, including soft services and just-in-time supply of consumables such as IT products, office stationery, and food and beverages.

Operations, revenue and decision-making are all located in India, with no revenue or non-current assets outside the country. The Annual Report presents the standalone financial statements of Indiqube Spaces Limited for the year ended March 31, 2025, audited by Walker Chandiok & Co LLP. There is no customer contributing more than 10% of total revenues.

Subsidiaries: Nil.

Key Milestones of Indiqube Spaces Limited

Key milestones highlighted in recent periods include share capital actions and governance enhancements. During FY 2024-25, the company issued bonus equity shares, increasing the equity share capital (by number of shares) substantially over the previous year. The company also undertook a share split for its compulsorily convertible preference shares (CCPS) during the year, sub-dividing each CCPS of Rs. 10 into 10 CCPS of Re. 1.

Indiqube Spaces Limited Business Verticals and Geographical Presence 

Segment/vertical: The company reports a single business segment — leasing of managed commercial workspaces; no separate segmental information is provided.

Geographic mix (FY 2024-25): Domestic 100%; International 0% (revenue within India only).

The company’s principal operations, revenue and decision-making are in India, with no revenue and no non-current assets outside the country. The registered office is in Bengaluru, Karnataka.

Indiqube Spaces Limited Business Segment

The company leases managed commercial workspaces and provides one-stop managed office services, including soft services and just-in-time supplies such as IT products, stationery and F&B. Management considers leasing of managed commercial workspaces as the only business segment, and accordingly no separate segmental information is provided. Indiqube’s principal operations, revenue and decision-making are in India; it has no revenue and no non-current assets outside India.

Indiqube Spaces Limited Key Management

• Rishi Das – Chairman, Executive Director and Chief Executive Officer
• Meghna Agarwal – Executive Director and Chief Operating Officer
• Deepak Dadhich – Chief Business Officer
• Pawan Jaichandbhai Jain – Chief Financial Officer
• Pranav Ayanath Kuttiyat – Company Secretary & Compliance Officer

Latest Updates on Indiqube Spaces Limited

• Capital structure actions: On May 16, 2025, the Board approved conversion of 6,07,61,232 0.001% Series A CCPS of Re. 1 each into 4,14,67,436 equity shares (conversion ratio 1:0.6824) and 1,09,27,823 0.001% Series B CCPS into 1,09,27,823 equity shares (conversion ratio 1:1).
• Share split and bonus: During FY 2024-25, the company sub-divided its CCPS from Rs. 10 to Re. 1 each and issued bonus equity shares, as reflected in the movement of share capital and instruments entirely in the nature of equity.
• Governance and Board changes: The company inducted a Nominee Director (effective July 23, 2024) and appointed four Independent Directors (effective December 18, 2024). It also confirmed key managerial appointments, including CFO and CBO (both effective December 18, 2024) and Company Secretary & Compliance Officer (effective November 15, 2024).
• Tax regime selection: From FY 2024-2025, the company opted for the tax rate under Section 115BAA of the Income Tax Act, 1961 (effective April 1, 2024), resulting in an applicable tax rate of 25.17%.
• IPO-related preparations: The notes disclose share issue expenses carried as prepaid expenses in connection with the company’s proposed Initial Public Offering (IPO), with a portion recoverable from selling shareholders as per the Offer Agreement.