According to CRISIL, this rating upgrade in Sep'24 reflects a sustained improvement in the business performance of IndiQube as evidenced by a healthy CAGR of 33.8% over the last 3 years. Additionally, the companies' strong market position in the flexible workspace segment, diversified client base, healthy occupancy levels and healthy financial risk profile have been listed among the key rating drivers. IndiQube has been witnessing a steady upgrade from CRISIL in its ratings which saw an improvement from CRISIL A / Stable in Mar'23 to CRISIL A / Positive in Nov'23 and CRISIL A+ / Stable in Sep'24. IndiQube founded by Rishi Das & Meghna Agarwal in 2015 currently operates around 6.5 Mn Sq.ft of office space with 500+ clients across 13 cities. It counts WestBridge Capital & Angel investor Ashish Gupta among its backers and has raised $45 Mn in two rounds of funding.