IndiQube To Invest ₹35 Cr In Office Space Developer SaiEdge Realty
Listed coworking space provider IndiQube Spaces’ board has approved an investment of up to ₹35 Cr in SaiEdge Realty to…
IndiQube Spaces, a coworking space provider, has approved an investment of up to ₹35 crore in office space developer SaiEdge Realty. The investment will be made in cash through subscriptions to equity shares and/or convertible securities. SaiEdge Realty, which was incorporated on July 28 and has a paid-up share capital of ₹1 lakh, intends to develop commercial office spaces for IndiQube to lease upon completion.
The investment will increase SaiEdge's stake in IndiQube to up to 49%. IndiQube's board also appointed Ishwar Subramanian as an additional independent director, effective yesterday, with a five-year term ending in October 2031. Subramanian will serve as chairperson of the audit committee, alongside independent director Sachi Krishana and executive director and CEO Rishi Das.
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