This constitutes up to 20% of the total fresh issue to be floated during the IPO, which will also have an offer-for-sale component
Funds raised through the pre-IPO placement will be deducted from the fresh issue at the time of the IPO
The managed office space startup had converted to a public company from being a private entity in the second half of last year
Managed office space provider Table Space’s board has approved the raise of INR 200 Cr via private placement ahead of its IPO during an extraordinary general meeting (EGM) convened earlier in January. As per MCA filings accessed by Inc42, the pre-IPO fundraise of INR 200 Cr would be 20% of the size of the fresh issue.
While Table Space’s IPO may comprise a fresh issue of INR 1,000 Cr, the IPO will also consist of an offer for sale (OFS) element. The startup’s board and shareholders gave their consent to the IPO back in July 2025.
Inc42 reported the startup’s bid to undertake a public listing in August 2025, when it converted to a public entity. It had also approved the appointments of three new independent directors – KCC & Associates partner Nilesh S Vikamsey, ex-NASSCOM chairman Ganesh Natarajan and ex-JLL CEO Asia Pacific Anthony Couse – on its board back then.
However, Inc42 couldn’t ascertain the exact specifics of the proposed IPO as well as the timeline for its public listing. Table Space didn’t respond to Inc42’s queries regarding the development by the time of publication.
The coworking major has been planning for an IPO since October 2024, when Tech Crunch reported that it was aiming to file its draft red herring prospectus (DRHP) with the SEBI by April 2025. However, that didn’t materialise as planned.
Important to mention that Table Space’s founder Amit Banerji passed away due to a heart attack in January 2025. Subsequently, the startup appointed cofounders Karan Chopra and Kunal Mehra as co-CEOs. In September 2025, both cofounders were appointed as whole time directors, and Chopra was additionally appointed as chairman of the company as well.
While Chopra holds 12.35 Cr shares in Table Space, Mehra’s shareholding stood at 4.81 Lakh as of September. Space issued 32.5 Lakh CCPS-C shares at INR 1 apiece to its Mehra and its Singapore-based holding company AGS TS II Holdings in July, as per its MCA filings.
On the financial front, Table Space reported a net loss of ₹1,561 Cr in the fiscal year FY25 as against a profit of ₹11 Cr in the previous fiscal year. This included a loss of ₹1,560 Cr due to compulsorily convertible preference shares (CCPS) shares being written off as liabilities.
Table Space’s operating revenue for the period surged 51% to ₹1,360 Cr from ₹908 Cr in the previous fiscal year. At the same time, expenses grew 61% YoY to ₹735 Cr.
Founded in 2017, Table Space offers enterprise managed workspace to companies across seven cities in India – Bengaluru, Mumbai, Gurugram, Noida, among others. Currently, it offers services to over 315 clients, including EY Dell, Fujitsu, AMD, GKN Aerospace, Shell, JCI and Analog Devices, among others. It recently leased 5.34 lakh sq ft of office space for ₹3.47 crore per month in Gurugram to lease to global tech giant Google.
During FY25, Table Space added 3.01 Mn sq ft to its portfolio, with 16 newly launched centres contributing 76% of premium, managed workspaces. Its premium portfolio grew over six-fold to 11,461 seats in FY25. The startup is expanding in high-potential micro-markets across India’s major business hubs, including Bengaluru, NCR, Pune, Hyderabad, Mumbai and Chennai.
India’s overall coworking space market is estimated to clock a CAGR of 7% to reach a size of almost $3 Bn by 2030 from $2 Bn in 2025.
Most of Table Space’s peers in the sector have gone public, including Awfis, Smartworks and IndiQube, WeWork India and DevX.
Comments are closed.