EX-10.6





 Exhibit 10.6 

Investcorp India Acquisition Corp 

Century Yard, Cricket Square 
 Elgin
Avenue 
 PO Box 1111 
 George
Town 
 Grand Cayman, Cayman Islands KY1-1102 

_____________, 2022 
 ICE I Holdings Pte. Ltd. 

Century Yard, Cricket Square 
 Elgin Avenue 

PO Box 1111 
 George Town 

Grand Cayman, Cayman Islands KY1-1102 

Re: Administrative Services Agreement 

Ladies and Gentlemen: 
 This letter agreement
(this “Agreement”) by and between Investcorp India Acquisition Corp (the “Company”) and ICE I Holdings Pte. Ltd. (the “Sponsor”), dated as of the date hereof, will confirm our
agreement that, commencing on the date the securities of the Company are first listed on The Nasdaq Stock Market, LLC (the “Listing Date”), pursuant to a Registration Statement on
Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”) and continuing until the earlier of the consummation by the Company of
an initial business combination or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”): 

1. The Sponsor shall make available, or cause to be made available, to the Company, at [Century Yard, Cricket Square, Elgin Avenue, PO
Box 1111, George Town, Grand Cayman, Cayman Islands KY1-1102] (or any successor location), office space, utilities and secretarial and administrative support services as may be reasonably required by the
Company. In exchange therefor, the Company shall pay the Sponsor $10,000 per month on the Listing Date and continuing monthly thereafter until the Termination Date; and 

2. The Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or
arising out of, this Agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out of, the trust account established for the benefit of the public shareholders of the Company and
into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “Trust Account”), and hereby irrevocably waives any Claim it may have in the future as a result of, or arising
out of, this Agreement, which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement, payment or satisfaction of any
Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever. 
 This Agreement constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any
way to the subject matter hereof or the transactions contemplated hereby. 
 This Agreement may not be amended, modified or waived as to any
particular provision, except by a written instrument executed by the parties hereto. 
 No party hereto may assign either this Agreement or
any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any
interest or title to the purported assignee. 












 This Agreement shall be governed by and construed in accordance with the laws of the State
of New York for agreements made and to be wholly performed within such state, without regards to the conflicts of laws principles thereof. 

[Signature Page Follows]












 
			
	Very truly yours,
	
	INVESTCORP INDIA ACQUISITION CORP
		
	By:	 	 
		 	Name: Nikhil Kalghatgi
		 	Title: Principal Executive Officer


  

					
	AGREED AND ACCEPTED BY:
	
	ICE I HOLDINGS PTE. LTD.
		
	By:	 	 
		 	Name: Ayman Al Arrayed
		 	Title: Member
		
	By:	 	 
		 	Name: Yongky Oktavianto
		 	Title: Member

 [Signature Page to Administrative Services Agreement]