Indiqube Spaces Ltd IPO

One of the Leading Players in the Large and Growing Flexible Workspace Market in India.

Acquisition Strategy with a Focus on Value Creation and Demand-Driven Locations.

Prudent Business Management Practices with Strong Operational Metrics.

Capital Efficient Model with Resilience and Comprehensive Risk Mitigation.

Experienced Leadership and Prominent Investor Base.

Focussed on Fostering an Ecosystem of Green Buildings.

For Fiscals 2025, 2024 and 2023, 88.84%, 91.82% and 93.18% of its revenue from operations,respectively, was derived from its centers in Bengaluru, Pune and Chennai collectively. Any adversedevelopments affecting the company centers in these locations, could have an adverse effect on its business, resultsof operations and financial condition.

Its business is sensitive to real estate market fluctuations and the company has witnessed a decline in itsoccupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024; changes in commercialproperty prices can significantly impact its leasing costs, which may adversely affect the company profitability.

The company has experienced losses in the last three Fiscals and its may continue to incur losses in the futurewhich could have an adverse effect on its business, results of operations and cash flows.

If the company is unable to pay the lease rentals to our lessors, its business, results of operations and financialcondition may be adversely affected.

The lease agreements with its landlords and certain of the company agreements with its clients are required to bestamped in accordance with the relevant state stamp duty legislation and registered under the RegistrationAct, 1908. Any failure to register and/or appropriately pay stamp duty on such agreements may affect itsability to enforce such agreements.

The company does not own the properties where its centers are located. Any defect in the title and ownership of suchproperties may result in the company centers being shut down, result in relocation costs for it and termination ofthe company client agreements, which may adversely impact its business, results of operations and financialcondition.

Its value-added services may not achieve desired growth and yield desired returns. Further, provision ofvalue-added services poses operational risks as it includes rendering services at high quality standards atour centers. A failures to manage such risks could have an adverse impact on its business, results ofoperations, cash flows and financial condition.

Its asset transformation and management solutions services are exposed to development and constructionrisks, which may have an adverse impact on the company business, results of operations, cash flows and financialcondition.

The company is dependent upon third parties for supply of raw materials and effectuating interior enhancement.Any defaults or delays by these third parties may have an adverse impact on its business, results ofoperations, cash flows and financial condition.

While its business has grown rapidly in the past, we may not be successful in managing the company growtheffectively, which could have an adverse effect on its business, results of operations, cash flows andfinancial condition.