New IPO Alert: Executive Centre India gets SEBI's approval to float ₹2,600 crore public offer

The ₹2,600 crore proposed IPO is exclusively a fresh issuance of equity shares, as per the draft red herring prospectus (DRHP) filed in July.

The funds generated will be utilised for investment in its subsidiaries and general corporate purposes.

"In addition, we expect to achieve the benefits of listing of our equity shares on the stock exchanges, including enhancement of our visibility including our brand name among our existing and potential customers and creation of a public market for our equity shares in India," the firm said in its DRHP.

The Mumbai-based company is one of the early international brands to lead the offering of premium flexible workspace solutions amongst the flexible workspace operators currently operating in India.

The company has been operating in India since 2008 and is a part of the TEC Group, which has over three decades of experience in delivering space-as-a-service.

Executive Centre is an India-based operator with pan-Asia operations spread across India, Singapore, the Middle East (comprising Dubai and Abu Dhabi in the United Arab Emirates), and the rest of Asia (comprising Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in the Philippines, and Colombo in Sri Lanka).

The company's total portfolio comprised 89 operational centres across 14 cities in seven countries as of March 31, 2025.

On the financial front, the company's revenue was at ₹1,322.64 crore for the year ended March 2025, reflecting a 27.59% growth over ₹1,036.62 crore in FY24.

Its earnings before interest, taxes, depreciation and amortisation (EBITDA) were at ₹713.32 crore in FY25, up from ₹583.54 crore in FY24.