This workspace solutions provider got SEBI's nod for ₹2,600cr IPO
What's the story
Executive Centre India, a leading provider of premium flexible workspace solutions, has received the green light from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The firm plans to raise ₹2,600 crore through a fresh issue of equity shares. The proceeds will be used to invest in TEC Abu Dhabi, acquire step-down subsidiaries TEC SGP and TEC Dubai from TEC Singapore, and for general corporate purposes.
Market presence
Executive Centre India's role in flexible workspace market
Established in 2008, Executive Centre India is one of the first international brands to offer premium flexible workspace solutions. The company operates across Asia and the Middle East, including India, Singapore, Dubai and Abu Dhabi (UAE), Jakarta (Indonesia), Ho Chi Minh City (Vietnam), Manila (Philippines), and Colombo (Sri Lanka). As of March 31, 2025, it had a portfolio of 89 operational centers across 14 cities in seven countries.
Growth trajectory
A look at the financial performance
In FY25, Executive Centre India's revenue from operations stood at ₹1,322.64 crore, a 27.59% increase from the previous fiscal year. Its operating profit also rose to ₹713.32 crore in FY25 from ₹583.54 crore in FY24.
Market conditions
IPO comes amid booming primary market
The approval for Executive Centre India's IPO comes at a time when the primary market is witnessing unprecedented growth. In 2025, companies raised a record ₹1.76 lakh crore through IPOs, surpassing the ₹1.6 lakh crore raised by 90 firms in 2024, and ₹49,436 crore mobilized by 57 companies in 2023. The strong domestic liquidity and resilient investor sentiment have contributed to this boom.