IndiQube’s IPO Litmus Test: Profitability Concerns Stand Out

Bengaluru-based IndiQube is betting on an asset-light model to stand out from key rivals — listed players Awfis and Smartworks as well as another IPO-bound company WeWork India

Most of IndiQube’s properties are based in its home city of Bengaluru, where the company has 15 centres, which is a concern given the wider coworking network of its closest rivals

With WeWork India set to join the public markets, IndiQube is soon likely to be the fourth-biggest player in the coworking space, with the worst profit margins of the lot…