Indiqube Spaces CEO, MD, chairman, board of directors and AGM
NSE: INDIQUBEBSE: 544454Commercial Services & SuppliesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹162.08.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹3,288 Cr911th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 20 May 2026
- 6.4
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the latest balance sheet's; the one a year before is not on record. The filing of 4 Sep 2026
- −18.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 4 Sep 2026
- 32.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 20 May 2026
- 0.56
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 60,46270.2% delivered
Indiqube Spaces board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and chief executiveRishi Das
- Company Secretary and Compliance OfficerBhasker Dubey
8 directors4 independent2 executive2 non-executive
- Rishi Das · Chairperson and chief executiveExecutive · joined Jan 2015 · 1 listed board · 2 committee seats
- Meghna AgarwalExecutive · joined Jul 2019 · 1 listed board · 1 committee seat
- Anshuman DasNon-executive · joined Jan 2015 · 1 listed board
- Sandeep SinghalNominee, non-executive · joined Jul 2024 · 2 listed boards
- Avalur Gopalaratnam MuralikrishnanIndependent · joined Dec 2024 · 18 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Naveen TewariIndependent · joined Dec 2024 · 18 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
- Rahul MatthanIndependent · joined Dec 2024 · 18 months as independent · 2 listed boards · 2 as independent · 1 committee seat
- Sachi KrishanaIndependent · joined Dec 2024 · 18 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 20 May 20266 of 8 present3 independent · 98 days in between
- 10 Feb 20265 of 8 present2 independent
Audit Committee
Chair Avalur Gopalaratnam Muralikrishnan
Sachi Krishana, Rishi Das
- 20 May 20263 of 3 present2 independent · 98 days in between
- 10 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Chair Sachi Krishana
Anshuman Das, Rahul Matthan
- 19 May 20262 of 3 present1 independent · 97 days in between
- 10 Feb 20262 of 3 present2 independent
Stakeholders Relationship Committee
Chair Sachi Krishana
Rishi Das, Meghna Agarwal
No meeting listed in the filing.
Risk Management Committee
Chair Rishi Das
Meghna Agarwal, Sachi Krishana
- 19 May 20262 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Rishi Das
Rahul Matthan, Sandeep Singhal
- 10 Feb 20262 of 3 present1 independent
Management Sub Committee
Chair Rishi Das
Anshuman Das, Meghna Agarwal
- 22 May 20263 of 3 present0 independent · 15 days in between
- 6 May 20263 of 3 present0 independent · 20 days in between
- 15 Apr 20263 of 3 present0 independent · 62 days in between
- 11 Feb 20263 of 3 present0 independent · 33 days in between
1 earlier meeting
- 8 Jan 20263 of 3 present0 independent
Committee of Independent Directors
Chair Sachi Krishana
Avalur Gopalaratnam Muralikrishnan, Naveen Tewari, Rahul Matthan
- 10 Feb 20264 of 4 present4 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- Walker Chandiok & Co LLPPeer-review certificate valid to May 2028
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Indiqube Spaces AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Indiqube Spaces share news and announcements
Annual general meeting, 12 Aug 2026
23,593 shareholders on the register on 5 Aug 2026; present: 9 promoters and 33 others; votes counted by Varsha V Shenoy / VVS and Associates.The company's voting result (opens in a new tab)
- To receive, consider and adopt audited financial statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 94.22% · promoters 100.00% · institutions 86.01% · other public 85.18%
- To appoint a director in place of Mr. Anshuman Das (DIN: 00420772), who retires by rotation and being eligible, offers himself for re-appointmentOrdinary96.17% for3.83% against
Against: promoters 0.00% · institutions 25.46% · other public 0.01%
Turnout: all 94.22% · promoters 100.00% · institutions 86.01% · other public 85.18%
- To appoint Ms. Varsha V Shenoy, Practicing Company Secretary, as Secretarial Auditors for the term of 5 (Five) consecutive yearsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 94.22% · promoters 100.00% · institutions 86.01% · other public 85.18%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 24 Jun 2026, 3 resolutions
23,934 shareholders on the register on 22 May 2026; votes counted by Varsha V Shenoy / VVS and Associates.The company's voting result (opens in a new tab)
- Variation in the Objects / Terms of utilisation of the Initial Public Offering (“IPO”) ProceedsSpecial99.07% for0.93% against
Against: promoters 0.00% · institutions 5.63% · other public 0.14%
Turnout: all 96.86% · promoters 100.00% · institutions 93.91% · other public 90.86%
- Revision in Remuneration of Mr. Rishi Das (DIN: 00420103), Chairman, Executive Director and Chief Executive Officer of the CompanySpecial99.48% for0.52% against
Against: promoters 0.00% · institutions 3.05% · other public 0.14%
Turnout: all 96.86% · promoters 100.00% · institutions 93.91% · other public 90.86%
- Revision in Remuneration of MS. Meghna Agarwal (DIN: 06944181), Chief Operating Officer and Executive Director of the CompanySpecial99.48% for0.52% against
Against: promoters 0.00% · institutions 3.05% · other public 0.14%
Turnout: all 96.86% · promoters 100.00% · institutions 93.91% · other public 90.86%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 11 Dec 2025, 1 resolution
26,454 shareholders on the register on 31 Oct 2025; votes counted by Varsha V Shenoy / VVS & Associates.The company's voting result (opens in a new tab)
- Approval for amendment in object clause of the Memorandum of Association of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 93.49% · promoters 100.00% · institutions 77.83% · other public 87.79%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 14 Sep 2025, 3 resolutions
42,599 shareholders on the register on 8 Aug 2025; votes counted by Varsha V Shenoy / VVS & Associates.The company's voting result (opens in a new tab)
- Approval for Reclassification of Authorised Share Capital and alteration to the Capital Clause of the Memorandum of Association of the CompanyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 87.48% · promoters 89.35% · institutions 86.13% · other public 83.56%
- Ratification of the “Indiqube- Employee Stock Option Plan 2022”Special93.35% for6.65% against
Against: promoters 0.00% · institutions 41.76% · other public 0.01%
Turnout: all 87.48% · promoters 89.35% · institutions 86.13% · other public 83.56%
- Approval and adoption of the Articles of Association of the CompanySpecial96.92% for3.08% against
Against: promoters 0.00% · institutions 19.31% · other public 0.01%
Turnout: all 87.48% · promoters 89.35% · institutions 86.13% · other public 83.56%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 12 Aug 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)
- To receive, consider and adopt audited financial statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.1 for0 against
- To appoint a director in place of Mr. Anshuman Das (DIN: 00420772), who retires by rotation and being eligible, offers himself for re-appointment1 for0 against
- To appoint Ms. Varsha V Shenoy, Practicing Company Secretary, as Secretarial Auditors for the term of 5 (Five) consecutive years1 for0 against
Mutual fund votes, meeting of 24 Jun 2026, 8 fund houses
- Variation in the Objects / Terms of utilisation of the Initial Public Offering (“IPO”) Proceeds
Against Edelweiss Mutual Fund, Groww Mutual Fund
- Edelweiss Mutual Fund, Groww Mutual FundPotential non- compliance: The proposed approval will not be implemented even if it receives requisite shareholding voting of 75%
6 for2 against - Revision in Remuneration of Mr. Rishi Das (DIN: 00420103), Chairman, Executive Director and Chief Executive Officer of the Company
Against Edelweiss Mutual Fund, Groww Mutual Fund
- Edelweiss Mutual Fund, Groww Mutual FundNo concerns identified on the merits, profile, time commitment and revised remuneration of the proposed appointees; Compliance and Transparency concern: The Company has not disclosed certain material details, as required under Secretarial Standard – 2, in the Explanatory Statement forming part of the Notice
6 for2 against - Revision in Remuneration of MS. Meghna Agarwal (DIN: 06944181), Chief Operating Officer and Executive Director of the Company
Against Edelweiss Mutual Fund, Groww Mutual Fund
- Edelweiss Mutual Fund, Groww Mutual FundNo concerns identified on the merits, profile, time commitment and revised remuneration of the proposed appointees; Compliance and Transparency concern: The Company has not disclosed certain material details, as required under Secretarial Standard – 2, in the Explanatory Statement forming part of the Notice.
6 for2 against
2 earlier meetings
Mutual fund votes, meeting of 11 Dec 2025, 8 fund houses
- Approval for amendment in object clause of the Memorandum of Association of the Company8 for0 against
Mutual fund votes, meeting of 14 Sep 2025, 8 fund houses
- Approval for Reclassification of Authorised Share Capital and alteration to the Capital Clause of the Memorandum of Association of the Company8 for0 against
- Ratification of the “Indiqube- Employee Stock Option Plan 2022”
Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise period. Separate Approval required to be obtained for extension of scheme to employees of group companies and grant of options exceeding 1% of issued capital to a single employee. Governance concern: Potential economic benefits to a single employee appear to be excessive.
- Baroda BNP Paribas Mutual FundESOP's refers to employee stock options. We are averse to the clause that ESOP's can be issued even to the holdco (- the holding company ie the promoter entity) which is tantamount to a preferential allotment. We have no concern on issuance of ESOP's to employees on the roll of subsidiaries as every company need not be listed.
- Invesco Mutual FundUnder ESOP 2022, the company can grant upto 4,061,200 options (representing ~3.9% dilution on the expanded capital base as on 29 July 2025), or options equivalent to upto 2.18% of the paid-up equity share capital from time to time. Prior to listing, 3,294,400 options have been granted (including 147,893 lapsed options), of which 1,279,420 options have been vested. The NRC has the flexibility to decide the exercise price, which may be at a discount to the market price. Vesting is performance-based, however the performance targets have not been disclosed: the NRC has the discretion to determine performance metrics and targets. We expect companies to disclose the performance targets based on which stock options will vest. At the very least, we expect companies to disclose the parameters and confirm that in the annual report subsequent to vesting, the company will disclose the targets set by the board and the level of achievement for the parameters disclosed. In the absence of such disclosures, the resolution does not meet our voting guideline thresholds. Therefore, we do not support the resolution
2 for6 against - Approval and adoption of the Articles of Association of the Company
Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: The article consists of provision for appointment of alternate director.
4 for4 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines
Reported in the filing for the quarter to Jun 2026.
- Fine or penaltyCentral Goods and Services Tax Audit Commissionerate, NoidaSince 6 Jul 2026
Receipt of a Spot/Audit Memo issued under Section 65 of the CGST Act, 2017, highlighting observations relating to short reversal of ITC in GSTR-3B vis-à-vis GSTR-9 and an unreconciled ITC difference in GSTR-9, and requesting deposit of applicable tax, interest and penalty.
Short reversal of ITC in GSTR-3B compared to GSTR-9 for FY 2020-21 and FY 2021-22, and unreconciled ITC pertaining to GSTR-9 for FY 2023-24.
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.