Executive Centre India to float Rs 2,600-cr IPO

New Delhi

Premium flexible workspace solutions provider Executive Centre India has secured markets regulator Sebi’s approval to garner Rs 2,600 crore through an Initial Public Offering (IPO), people familiar with the matter said on Wednesday. The IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the draft red herring prospectus filed in July.

The Mumbai-based company intends to use the proceeds for investment in its subsidiary TEC Abu Dhabi, for financing the part-payment of the consideration for the acquisition of step-down subsidiaries TEC SGP and TEC Dubai from TEC Singapore, one of its corporate promoters. Executive Centre India 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, rest of Asia comprising Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in Philippines and Colombo in Sri Lanka. As of March 31, 2025, the company’s total portfolio comprised 89 operational centers across 14 cities in seven countries.

On the financial front, the company’s revenue from operations stood at Rs 1,322.643 crore in FY25, reflecting a 27.59 per cent growth over Rs 1,036.62 crore registered in FY24.