Table Space Aims for $2.5 Billion Valuation in India IPO
Bengaluru-based managed workspace provider Table Space is setting its sights high, targeting a valuation of$2.5 billion or more for an initial public offering (IPO) planned for next year. The company, which has seen rapid growth since its founding in 2017, has already secured Hillhouse Capital as a major investor, with the firm pouring $300 million into the startup in a late 2022 funding round. This investment valued Table Space at approximately $550 million, highlighting the company’s significant potential in the burgeoning Indian workspace market.
Table Space’s business model revolves around transforming large office spaces into fully serviced,tech-enabled campuses. These campuses cater to corporate clients, offering customized offices, co-working spaces, and managed meeting rooms. The company’s focus on providing flexible and modern work environments has resonated with major corporations, with Table Spacecurrently serving Fortune 500 companies like Apple, Google, Mastercard, PayPal, AMD, Ericsson, and Shell.
The company’s success is reflected in its impressive expansion. Table Space operates over 60 centers across six major Indian cities, and its real estate portfolio has grown to over 9.5 millionsquare feet. The startup is aiming to nearly double this footprint in the near future, further solidifying its position as a leading player in the Indian workspace market.
To facilitate its IPO, Table Space has appointed Axis as a bookrunner. This strategic move underscores the company’s commitment to a successful public listing and itsambition to tap into the capital markets for further growth.
The $2.5 billion valuation target, if achieved, would represent a significant leap for Table Space. It would solidify the company’s position as a major player in the Indian tech sector and attract further investor interest. The IPO is expected to generate significantbuzz in the Indian market, as it would be one of the largest IPOs by a workspace provider in the country.
This move by Table Space comes at a time of increasing demand for flexible workspaces in India. The country’s rapidly growing economy and expanding tech sector have fueled the demand for modern and innovative workenvironments. Table Space’s focus on providing tech-enabled and customized solutions positions the company well to capitalize on this trend.
The success of Table Space’s IPO will be closely watched by investors and industry observers alike. It will provide insights into the future of the Indian workspace market and the appetite for investment in thissector.
References:
- TechCrunch: Table Space eyes $2.5B valuation in India IPO (https://techcrunch.com/2024/10/28/table-space-eyes-2-5b-valuation-in-india-ipo/)
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