Fresh Issue to Support Overseas Expansion and Group Restructuring
Premium flexible workspace solutions provider Executive Centre India has received approval to raise ₹2,600 crore through an Initial Public Offering. The proposed IPO will consist entirely of a fresh issue of equity shares, with no Offer For Sale component.According to details outlined in the draft red herring prospectus filed earlier, the company plans to deploy the IPO proceeds towards strategic investments within the group. This includes funding its subsidiary TEC Abu Dhabi and financing part payment for the acquisition of step down subsidiaries TEC SGP and TEC Dubai from corporate promoter TEC Singapore.
Early Mover in Premium Flexible Workspaces
Executive Centre India is among the early international brands that pioneered premium flexible workspace solutions in the Indian market. The company has been operating in India since 2008 and is part of the broader TEC Group, which brings over three decades of experience in delivering space as a service across global markets.The company operates as an India based platform with a strong pan Asia presence. Its footprint spans India and Singapore, the Middle East including Dubai and Abu Dhabi in the United Arab Emirates, and other Asian markets such as Jakarta, Ho Chi Minh City, Manila, and Colombo.
Expanding Portfolio Across Seven Countries
As of March 31, 2025, Executive Centre India’s total portfolio comprised 89 operational centres spread across 14 cities in seven countries. The wide geographic presence underlines the company’s focus on premium enterprise clients and multinational occupiers seeking flexible and managed office solutions.Strong Financial Growth in FY25
On the financial front, the company reported revenue from operations of ₹1,322.643 crore in FY25, marking a growth of 27.59 percent compared with ₹1,036.62 crore in FY24.Operating profitability also improved during the year. EBITDA stood at ₹713.32 crore in FY25, up from ₹583.54 crore in the previous financial year, reflecting improved scale and operational efficiencies.
IPO Approval Amid Robust Primary Market Activity
The approval comes at a time when the primary market has seen exceptional momentum. In 2025, companies collectively raised nearly ₹1.76 lakh crore through IPOs, surpassing the ₹1.6 lakh crore mobilised by 90 firms in 2024 and significantly higher than the ₹49,436 crore raised by 57 companies in 2023.The strong IPO pipeline has been supported by healthy domestic liquidity, steady investor participation, and a favourable macroeconomic backdrop, creating a conducive environment for large fundraising plans such as that of Executive Centre India.
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