IndiQube promoters may buy shares from open market after 214% rise in Q3FY26 profit

IndiQube Spaces Limited, a Bengaluru-based managed workplace solutions company, said that its promoter group may purchase equity shares from the open market.

In its filing with the stock exchanges, the company said certain members of the promoter and promoter group may acquire equity shares of Indiqube from time to time through open market transactions.

The company clarified that these proposed purchases will be carried out in compliance with SEBI regulations, including takeover and insider trading norms, and will remain within the prescribed limits. It also stated that the transactions will not trigger any open offer requirement.

The disclosure was described as a voluntary step in the interest of good governance and transparency.

The update comes months after IndiQube made its stock market debut in July 2025 with a Rs 700 crore initial public offering (IPO).

The IPO comprised a fresh issue of Rs 650 crore and an offer for sale of Rs 50 crore by promoters Rishi Das and Meghna Agarwal. The issue was priced in the range of Rs 225 to Rs 237 per share and saw participation from institutional and retail investors.

WestBridge Capital, an early backer of the company since 2018, did not sell any shares in the offer for sale.

As of March 31, 2025, the company had a portfolio of over 8 million square feet across multiple cities, with a strong focus on enterprise clients and global capability centres.

Since listing, Indiqube has reported steady operational growth. In the quarter ended September 30, 2025, the company posted total income of Rs 367 crore under Ind AS, while revenue from operations under its IGAAP equivalent framework stood at Rs 354 crore.

On an IGAAP equivalent basis, the company reported a profit after tax of Rs 28 crore for the quarter.

The performance improved further in the quarter ended December 31, 2025. IndiQube reported revenue of Rs 395 crore, up 45% year on year, with total income at Rs 403 crore.

For the first nine months of FY26, revenue stood at Rs 1,063 crore. The company reported a profit after tax of Rs 40 crore for the December quarter and Rs 95 crore for the nine month period on the reported basis.

Operationally, the company has expanded its managed portfolio to more than 9.5 million square feet with over two lakh seats across 17 cities. Occupancy levels have remained healthy, supported by demand from large enterprises and global capability centres.

The proposed open market purchases are notable at a time when many Indian startups that have gone public have seen significant dilution in founder ownership, in some cases falling below 15%.

As per the latest shareholding pattern for the December 2025 quarter, promoters held 60.04% stake in the company, slightly lower than 60.60% in the September quarter.