IndiQube Spaces, a Bengaluru-based provider of managed workspaces, has received board approval to invest up to ₹35 crore in SaiEdge Realty. According to Inc42, the listed company intends to acquire up to a 49% stake in the real estate developer on a fully diluted basis. The investment will be executed in cash through one or more tranches, utilizing subscriptions to equity shares or convertible securities. This strategic move is designed to link IndiQube's equity position with its operational requirements, as the company plans to lease the commercial office spaces developed by SaiEdge upon their completion.
SaiEdge Realty was incorporated on July 28 and currently holds a paid-up share capital of ₹1 lakh. As reported by Inc42, the entity has not yet commenced operations or generated turnover, with its remaining shareholding held by other investors. IndiQube, which was founded in 2015 by Rishi Das and Meghna Agarwal, competes with operators such as Awfis and Smartworks. The company’s model focuses on tailored offices and long-term client relationships, serving startups, small and medium enterprises, and large corporations.
In a separate governance update, IndiQube’s board appointed Ishwar Subramanian as an additional independent director. His five-year term, effective from the day prior to the report, ends on October 18, 2031, subject to shareholder approval. Subramanian was also appointed as the chairperson of the reconstituted audit committee, which includes independent director Sachi Krishana and chief executive officer Rishi Das as members. This appointment follows the resignation of independent director Avalur Gopalaratnam Muralikrishnan.
IndiQube listed on Indian stock exchanges in July 2025 after a ₹700 crore initial public offering. The company’s financial performance in the first quarter of fiscal year 2027 showed a 35% year-on-year narrowing of its net loss to ₹23.9 crore. Operating revenue grew 37% year-on-year to ₹422.6 crore, while total income stood at ₹448.7 crore. The company has yet to report its figures for the second quarter of the current fiscal year.