India, Oct. 20 -- Listed coworking space provider IndiQube Spaces' board has approved an investment of up to Rs.35 Cr in SaiEdge Realty to acquire up to a 49% stake.

SaiEdge will develop commercial office spaces that IndiQube intends to lease upon completion, the latter said in an exchange filing

The investment will be made in cash, in one or more tranches, through subscriptions to equity shares and/or convertible securities.

Incorporated on July 28, SaiEdge has a paid-up share capital of Rs.1 Lakh and is yet to commence operations or generate turnover. Its remaining shareholding will be held by other investors.

Separately, IndiQube's board appointed Ishwar Subramanian as an additional independent director, effective yesterday. His ap...