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Economic Times
24-07-2025
- Business
- Economic Times
Executive Centre India files DRHP with Sebi for IPO; to raise Rs 2,600 crore via fresh equity issue
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Executive Centre India, a premium provider of flexible workspace solutions , has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of equity shares aggregating up to Rs 2,600 to the DRHP, the net proceeds from the IPO will be utilised primarily to invest in its direct subsidiary TEC Abu Dhabi. This investment will help finance the part-payment for the acquisition of TEC Singapore and TEC Dubai, both step-down subsidiaries currently held by corporate promoter TEC Singapore, as part of an internal restructuring agreement. The remaining proceeds will be deployed towards general corporate Centre India, which began operations in 2008, is part of the larger TEC Group with over 30 years of experience in delivering space-as-a-service. The company operates across 14 cities in seven countries including India, Singapore, UAE (Dubai and Abu Dhabi), Indonesia (Jakarta), Vietnam (Ho Chi Minh City), the Philippines (Manila), and Sri Lanka (Colombo).The company primarily leases bare-shell spaces in Grade A commercial buildings and transforms them into fully managed, tech-enabled premium offices. These are offered as flexible workspace solutions to a diverse clientele including multinational corporations, SMEs and other of March 31, 2025, Executive Centre operated 89 centres, of which 80 had private offices and six offered managed office solutions across India and the Middle East. Its landlord partners include Earnest Towers, Panchshil Corporate Park, Prestige Estates, RMZ, Sattva Group, Dubai World Trade Centre LLC, Alborz Developers (a Bharti Realty subsidiary), Overseas Realty (Ceylon) PLC, MSR Developer, and Olympia Tech FY25, the company served more than 1,550 clients, including marquee names such as Anaplan, ArcelorMittal Nippon Steel, Atyeti IT Services, BBVA, Indian School of Business, Hines, Sandvik, Criteo, Crunchyroll, Truecaller, Zscaler, Open Text, and the National Payments Corporation of company reported a net revenue retention rate of 120.33% in FY25, slightly down from 123.92% in FY24, indicating a stable and expanding client base. Notably, Executive Centre served over 1,200 MNC clients in FY25, with an average tenure of 50.46 months and an average of 24 workstations per client. Across new centres launched between FY23 and FY25, pre-sale occupancy averaged 64.33%.Financially, the Executive Centre posted a total income of ₹1322.6 crore in FY25, up 27.59% year on year. The company's EBITDA rose to ₹713.3 crore in FY25 from ₹583.5 crore in FY24 and ₹468 crore in Mahindra Capital Company, ICICI Securities, and Nomura Financial Advisory and Securities (India) are acting as the Book Running Lead Managers to the issue.
Time of India
24-07-2025
- Business
- Time of India
Executive Centre India files DRHP with Sebi for IPO; to raise Rs 2,600 crore via fresh equity issue
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Executive Centre India, a premium provider of flexible workspace solutions , has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of equity shares aggregating up to Rs 2,600 to the DRHP, the net proceeds from the IPO will be utilised primarily to invest in its direct subsidiary TEC Abu Dhabi. This investment will help finance the part-payment for the acquisition of TEC Singapore and TEC Dubai, both step-down subsidiaries currently held by corporate promoter TEC Singapore, as part of an internal restructuring agreement. The remaining proceeds will be deployed towards general corporate Centre India, which began operations in 2008, is part of the larger TEC Group with over 30 years of experience in delivering space-as-a-service. The company operates across 14 cities in seven countries including India, Singapore, UAE (Dubai and Abu Dhabi), Indonesia (Jakarta), Vietnam (Ho Chi Minh City), the Philippines (Manila), and Sri Lanka (Colombo).The company primarily leases bare-shell spaces in Grade A commercial buildings and transforms them into fully managed, tech-enabled premium offices. These are offered as flexible workspace solutions to a diverse clientele including multinational corporations, SMEs and other of March 31, 2025, Executive Centre operated 89 centres, of which 80 had private offices and six offered managed office solutions across India and the Middle East. Its landlord partners include Earnest Towers, Panchshil Corporate Park, Prestige Estates, RMZ, Sattva Group, Dubai World Trade Centre LLC, Alborz Developers (a Bharti Realty subsidiary), Overseas Realty (Ceylon) PLC, MSR Developer, and Olympia Tech FY25, the company served more than 1,550 clients, including marquee names such as Anaplan, ArcelorMittal Nippon Steel, Atyeti IT Services, BBVA, Indian School of Business, Hines, Sandvik, Criteo, Crunchyroll, Truecaller, Zscaler, Open Text, and the National Payments Corporation of company reported a net revenue retention rate of 120.33% in FY25, slightly down from 123.92% in FY24, indicating a stable and expanding client base. Notably, Executive Centre served over 1,200 MNC clients in FY25, with an average tenure of 50.46 months and an average of 24 workstations per client. Across new centres launched between FY23 and FY25, pre-sale occupancy averaged 64.33%.Financially, the Executive Centre posted a total income of ₹1322.6 crore in FY25, up 27.59% year on year. The company's EBITDA rose to ₹713.3 crore in FY25 from ₹583.5 crore in FY24 and ₹468 crore in Mahindra Capital Company, ICICI Securities, and Nomura Financial Advisory and Securities (India) are acting as the Book Running Lead Managers to the issue.
Time of India
15-07-2025
- Business
- Time of India
The Executive Centre is said to seek ₹2,600 crore for India IPO
The Executive Centre is planning an initial public offering in Mumbai that may raise 26 billion rupees ($303 million), according to people familiar with the matter, to capitalize on the rising demand for workspace in the country. The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing, according to the people, who asked not to be named because the information is private. The company is planning to file preliminary documentation — known as the draft red herring prospectus — soon, according to the people. The company, Kotak and ICICI Securities did not respond to emailed requests for comment. It would join Wework India Management Ltd., Awfis Space Solutions Ltd. and Smartworks Coworking Spaces Ltd. in going public in the country as the flexible workspace industry in the South Asian nation is forecast by Avendus Capital to grow about 15% to $9 billion by 2028. The Executive Centre manages workspace across India, China, Southeast Asia, Sri Lanka, the Middle East and Australia for 51,000 customers, according to its website.
Time of India
15-07-2025
- Business
- Time of India
Executive Centre is said to seek Rs 2,600 crore for India IPO
The Executive Centre is planning an initial public offering in Mumbai that may raise 26 billion rupees ($303 million), according to people familiar with the matter, to capitalize on the rising demand for workspace in the country. The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing, according to the people, who asked not to be named because the information is private. The company is planning to file preliminary documentation — known as the draft red herring prospectus — soon, according to the people. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 이 게임은 대부분의 TV 프로그램보다 더 재미있어요 – 게다가 무료예요. Raid: Shadow Legends 플레이하기 Undo The company, Kotak and ICICI Securities did not respond to emailed requests for comment. It would join Wework India Management Ltd., Awfis Space Solutions Ltd. and Smartworks Coworking Spaces Ltd. in going public in the country as the flexible workspace industry in the South Asian nation is forecast by Avendus Capital to grow about 15% to $9 billion by 2028. The Executive Centre manages workspace across India, China, Southeast Asia, Sri Lanka, the Middle East and Australia for 51,000 customers, according to its website.
