Latest news with #Incuspaze
Time of India
12 hours ago
- Business
- Time of India
Incuspaze acquires Trios ahead of $25 million pre-IPO fundraising
Flexible workspace provider Incuspaze has acquired Pune-based smaller rival Trios ahead of a $25 million (about Rs 215 crore) planned pre-IPO fundraising , its founder said. He did not disclose the financial terms of the acquisition, but said Trios would add Rs 20-25 crore in annual revenue to the company's portfolio. Gurugram-based Incuspaze is preparing for a public listing in two-three years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo The company, which had last year secured $8 million in funding, is expected to close the $25 million pre-IPO round within a few months 'The founders of Trios will remain with us and will be given Esops ( employee stock options ). We are looking for an IPO in 24-36 months, which will create wealth for founders,' said Choudhary, who is also its chief executive. '…we are looking for more acquisitions and should complete at least two by December this year,' he said. Live Events Incuspaze is targeting Rs 350-400 crore in revenue in FY25–26 compared to Rs 150 crore in FY25, he said, banking on acquisitions and an expected increase in leased space to drive revenue growth. Trios has 10 centres in Pune and two in Gurugram . The acquisition will help Incuspaze, which recently leased 100,000 sq ft in Pune, to expand its presence in the city. Founded in 2017, Trios manages a portfolio of 150,000 sq ft. Growing demand for flexible workspaces in India is driving companies in the sector to pursue aggressive expansion plans. This is also leading to a wave of IPOs to raise funds. The demand for flexible workspaces is primarily driven by organisations focused on using their capital more efficiently and adopting hybrid and distributed work models effectively. There are more than 440 flexible workspace operators in India and the top 10 operators (by portfolio size) account for almost 60% of the total flexible workspace stock
Time of India
21-04-2025
- Business
- Time of India
Incuspaze rents 2.5 lakh sq ft office space in Chennai
NEW DELHI: Co-working operator Incuspaze has rented 2.5 lakh square feet of office space in Chennai to provide managed workspaces to corporates. The upcoming centre has the capacity to accommodate more than 4,000 seats, the company said in a statement on Monday. Gurugram-based Incuspaze has taken on lease 2.5 lakh square feet of office space at standalone campus 'Olympia Crest', which is located in the heart of Chennai's IT corridor at OMR Zone 1. Gross leasing of office space hit a record in 2024 calendar year on high demand, especially from foreign companies looking to establish Global Capabilities Centres (GCCs) in India. Co-working operators take office space on lease from real estate companies and property owners and then further sub-lease the workspaces to corporate clients. After the COVID pandemic, the demand for office space in co-working centres has surged as corporates look for reduction in capital expenditure and also flexibility to expand or downsize their businesses. Established in 2016, Incuspaze has a presence in 50 locations across 18 cities with a total portfolio of 4 million (40 lakh) square feet. In July last year, the company raised USD 8 million from investors, including India Inflection Opportunity Fund (IIOF), to expand its business.
