Indiqube Spaces Ltd IPO

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 adverse developments affecting the company centers in these locations, could have an adverse effect on its business, results of operations and financial condition.

Its business is sensitive to real estate market fluctuations and the company has witnessed a decline in its occupancy rate from 83.68% as of March 31, 2023 to 80.21% as of March 31, 2024; changes in commercial property 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 future which 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 financial condition may be adversely affected.

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

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

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

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

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 of operations, cash flows and financial condition.

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