Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
New Delhi: Executive Center, a premium flexible workspace company, is coming up with its public offer. The IPO is worth Rs 2600 crore. In this regard, the company has filed its papers with the market regulator SEBI.
The Initial Public Offering is entirely a fresh issue. No component of OFS (offer for sale) is mentioned as per the draft red herring prospectus (DRHP) of the company that was filed with SEBI on Wednesday, 23rd July 2025.
The Mumbai-headquartered company aims to use the IPO capital for investments in its subsidiary TEC Abu Dhabi and for financing the acquisitions of step-down subsidiaries, viz., TEC SGP and TEC Dubai, from its subsidiary TEC Singapore. A step-down subsidiary is a company that is indirectly owned by a parent company through another subsidiary.
Executive Center India is the market leader of the premium workspace sector and also among the ones that led the flexible workspace domain.
The company has been functional in India since 2008. The company is a part of the TEC Group. The company has been experienced in delivering 'space-as-a-service' for the past three years.
Executive Center is an operator based in India. The company has an operational presence spread across India, Singapore, the Middle East, comprising Dubai and Abu Dhabi in the Middle East, and the rest of Asia, including Indonesia, Vietnam, Manila, and Sri Lanka.
The company's footprint is spread over 89 operational centers that are spread across 14 cities in seven countries as of March 31st, 2025.
The company's financials are strong, with revenue inching towards around Rs 1322 crore in FY25, reflecting a surge of around 28 percent from the Rs 1036.62 crore revenue of the company in FY24. The EBITDA/operating profit of the company stood at Rs 713 crore in FY25, up from Rs 583 crore in FY24.
Kotak Mahindra Capital Company, ICICI Securities, and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead managers to the IPO issue
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
