Table Space, a managed workspace startup founded in 2017, is preparing for an initial public offering (IPO) in India. The IPO is expected to include a fresh issue of shares valued at up to Rs 1,000 crore, as well as an offer for sale (OFS) component.
Before the IPO, the company successfully raised Rs 200 crore in a pre-IPO round through private placement, a move approved at an extraordinary general meeting (EGM) last month.
Financial filings with the Ministry of Corporate Affairs (MCA) reveal that the upcoming pre-IPO fundraising round represents 20% of the total fresh issue size, suggesting the fresh issue part of the IPO could be around Rs 1,000 crore.
Table Space specializes in customized coworking spaces and has a capacity exceeding 10 million square feet, serving 290 unique clients across 7 cities, including Bengaluru.
In FY25, Table Space reported revenue of over Rs 1,000 crore, a 50% year-on-year increase from Rs 906 crore in FY24. Excluding an exceptional item, the company’s profit surged nearly threefold to Rs 14.6 crore during the same period.
Table Space reported an exceptional item of Rs 1,568 crore, stemming from a non-cash fair valuation loss on its CCPS-A instruments, which convert into equity just before a liquidation event or earlier with investor consent.
Table Space will compete in the growing flex-workspace market in India, alongside established players like WeWork India Management, Smartworks Coworking Spaces, IndiQube Spaces, and Awfis Space Solutions, with WeWork India leading recent IPO activity in the sector.
Source: Entrackr : Latest Posts