IndiQube To Invest ₹35 Cr In Office Space Developer SaiEdge Realty
IndiQube Spaces, a Bengaluru-based managed workspace provider founded in 2015, announced a board-approved investment of up to ₹35 crore in SaiEdge Realty to acquire up to 49% equity stake. SaiEdge will develop commercial office spaces that IndiQube plans to lease upon completion. The investment will be made through equity subscriptions and/or convertible securities across one or more tranches. Separately, the board appointed Ishwar Subramanian as an additional independent director and reconstituted the audit committee following the resignation of an existing independent director.
Key points
- IndiQube investing ₹35 Cr for up to 49% stake in office developer SaiEdge Realty
- SaiEdge will build commercial spaces for IndiQube to lease
- Board also appointed new independent director and reconstituted audit committee
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