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Executive Centre India has received approval from the Securities and Exchange Board of India to proceed with its proposed initial public offering aimed at raising INR 2,600 crore. The IPO will consist entirely of a fresh issue of equity shares, with no offer for sale by existing shareholders. The company plans to use the proceeds mainly to invest in its overseas subsidiaries and for general corporate purposes. Operating across multiple international markets, Executive Centre India has shown steady growth, supported by rising demand for premium flexible office spaces.
Executive Centre India has secured approval from the Securities and Exchange Board of India to launch its initial public offering, which is expected to raise INR 2,600 crore through a fresh issue of equity shares. The proposed IPO does not include any offer for sale, indicating that existing shareholders will continue to hold their stakes after the listing. Advertisement
According to the draft papers, a large portion of the funds raised will be used to invest in the company's wholly owned subsidiary in Abu Dhabi. Part of the proceeds will also be utilised to fund payments related to the acquisition of step-down subsidiaries in Singapore and Dubai. The remaining amount will be allocated towards general corporate requirements.
The IPO will be managed by Kotak Mahindra Capital Company, ICICI Securities and Nomura Financial Advisory and Securities as book-running lead managers. The equity shares will have a face value of INR 2 each.
Executive Centre India operates in the premium flexible workspace segment and follows an asset-light business model. The company leases Grade A commercial office buildings, converts them into managed office spaces, and offers them to enterprise clients and growing businesses. As of the last reported financial year, it operated 89 centres across 14 cities in seven countries, including India, Singapore, the UAE, Indonesia, Vietnam, the Philippines and Sri Lanka.
On the financial front, the company reported a strong increase in total income during the previous financial year, supported by growth in revenue from operations. Operating profit also improved, reflecting better utilisation levels and stable client retention. The company has benefited from increased demand for flexible office spaces as corporates continue to adopt hybrid working models.
The proposed listing places Executive Centre India among a growing group of workspace operators looking to access public markets amid sustained interest in managed office solutions.
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