Latest news with #TECSingapore
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.
&w=3840&q=100)
Business Standard
24-07-2025
- Business
- Business Standard
Executive Centre plans to raise ₹2,600 crore via fresh issue, files DRHP
Bengaluru-based co-working major The Executive Centre (TEC) aims to raise Rs 2,600 crore in a fresh issue of Rs 2 per equity share and has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on the NSE and BSE, the company said in a statement. The company proposes to utilise the net proceeds to invest in TEC Abu Dhabi, a direct subsidiary, for the partial payment of the consideration related to the acquisition of TEC Singapore (SGP) and TEC Dubai, both step-down subsidiaries currently held by TEC Singapore, one of the company's corporate promoters. Investment firms such as Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the issue. The Offer for Sale (OFS) has not been disclosed by the company. Additionally, the company highlighted that, in consultation with the BRLMs, it may choose to raise up to Rs 5,200 million by issuing specified securities through a preferential offer or any other permitted method before filing the Red Herring Prospectus with the Registrar of Companies. This would be considered a pre-IPO placement. In an interview with Business Standard in March, Manish Khedia, managing director for West India, South India, and Sri Lanka at TEC, said, "In the next three years, we anticipate significant growth, aiming for a 25-30 per cent CAGR, up from our current 18-20 per cent rate. Additionally, we plan to increase our investments during this period.' Founded in 2008, TEC provides ultra-premium flexible space solutions across India, Singapore, the Middle East (including Dubai and Abu Dhabi in the United Arab Emirates), and Asia (including Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in the Philippines, and Colombo in Sri Lanka). The company leases bare-shell spaces and transforms them into tech-enabled, fully managed premium workspaces. These include private offices and managed solutions, serving MNCs, SMEs, and other entities. As of March 31, 2025, it operated 89 centres across 14 cities in seven countries, with 80 offering private offices. The company's partnership portfolio includes Earnest Towers Private Limited, Panchshil Corporate Park Pvt. Ltd., Prestige Estates Projects Limited, RMZ, Sattva Group, Dubai World Trade Centre LLC, and Alborz Developers Limited, a subsidiary of Bharti Realty. In fiscal 2025, the company served a diverse client base of over 1,550 clients, comprising MNCs, marquee brands, and small and medium-sized enterprises. Some marquee clients include Anaplan Middle East Ltd, ArcelorMittal Nippon Steel India, BBVA, Indian School of Business, Sandvik, GreenOak India Investment Advisors Private Limited, Truecaller, Zscaler, OpenText, and the National Payments Corporation of India (NPCI), among others. In FY25, the company served over 1,200 multinational clients, with an average of 24 workstations per client and an average client tenure of 50.46 months. Furthermore, in the fiscal year ended on March 31, 2025, the company reported total income of Rs 1,346.40 crore, up 27.58 per cent from Rs 1,055.32 crore in FY24. Revenue from operations grew 27.59 per cent to Rs 1,322.64 crore. EBITDA rose to Rs 713.33 crore, compared to Rs 583.55 crore in FY24 and Rs 468.03 crore in FY23.
