Last week, Table Space filed its DRHP with the SEBI, proposing a fresh issue of shares worth up to ₹800 Cr and an OFS of up to 6.5 Cr shares.
As the managed workspace provider moves closer to a listing on the bourses, its shareholding pattern throws up an interesting mix of a dominant institutional investor, founder holdings and a sizable block of shares caught in an ongoing legal dispute.
Hillhouse Investment-backed AGS TS II Holdings Pte Ltd is the largest shareholder in the managed workspace provider, holding a 41.76% stake on a fully diluted basis. It is also the biggest selling shareholder in the proposed IPO and plans to offload up to 4.98 Cr shares through the offer for sale (OFS).
AGS TS II Holdings is controlled by funds managed by Hillhouse Investment. The holding entity was incorporated in Singapore in September 2022 and is wholly owned by AGS TS I Holdings, which is ultimately owned and controlled by Hillhouse funds.
Hillhouse had first invested in Table Space in 2022, and has since become the dominant institutional shareholder in the company.
That said, Table Space’s cap table is heavily concentrated, with the top nine shareholders collectively holding 97.06% of Table Space on a fully diluted basis.
Besides Hillhouse, the shareholder list includes late former promoter Amit Banerji, cofounder Karan Chopra, Bergamot Trust, Narendra Kumar Kamaraju, KAM Advisors, cofounder Kunal Mehra, Srinivas Prasad, and Ramachandra Venkatasubba Rao.
The second-largest block in Table Space’s cap table is the 22.14% stake held in the name of Banerji. The holding comprises 2.21 Cr CCPS A and is subject to ongoing legal proceedings over the succession of his estate.
Following Banerji’s death in January 2025, his mother Sarita Banerji, wife Shruti Sood, and daughter became involved in proceedings over their respective claims to his estate, including the disputed shareholding. Sarita Banerji and Banerji’s daughter have relied on his will, which provides for an equal division of the estate between them, while Sood has claimed a one-third share each for herself, Sarita Banerji, and the daughter under the Hindu Succession Act.
The settlement of the disputed shareholding remains sub judice. The Supreme Court has referred the parties to mediation and stayed the proceedings between them pending the process. Table Space has flagged that the outcome could affect its current shareholding pattern, including Sarita Banerji’s shareholding.
Meanwhile, cofounder and co-CEO Karan Chopra holds a 12.47% stake in Table Space, while fellow cofounder and co-CEO Kunal Mehra owns 3.57%. Both are selling shareholders in the IPO. Chopra plans to offer up to 13.11 Lakh shares via the OFS, while Mehra will sell up to 1.01 Cr shares.
KAM Advisors, which is also classified as a promoter, owns 3.96% in Table Space. The entity has Mehra and Manibabu Krishnan as directors.
Bergamot Trust, meanwhile, owns 6.19%, while individual investors Narendra Kumar Kamaraju and Srinivas Prasad hold 4.05% and 1.83%, respectively.
The fresh issue will provide Table Space with up to ₹800 Cr of capital, with the company proposing to use the proceeds towards repayment or prepayment of certain borrowings, funding unidentified inorganic acquisitions and general corporate purposes.
The DRHP also allows for a potential pre-IPO placement of up to ₹160 Cr, which, if completed, would be adjusted against the fresh issue.
Founded in 2017, Table Space provides managed workspace solutions to enterprises across major Indian office markets. The company reported operating revenue of ₹2,262.3 Cr in FY26, up 66% from ₹1,360.5 Cr in FY25, while its net loss narrowed 74% to ₹403.4 Cr from ₹1,554.1 Cr in the year ago fiscal.
The IPO comes as Table Space seeks to scale its managed workspace portfolio while using public market capital to strengthen its balance sheet and pursue further acquisitions.
A Break Down Of Jio’s Leadership Deck
Board of Directors
Karan Chopra
Karan Chopra cofounded Table Space in March 2017, and is the chairman, whole-time director and co-CEO of the company. He is also the chairperson of its risk management committee. Prior to this, he worked with PurpleYo Technologies as president.
Kunal Mehra
Joining as a cofounder in April 2019, Kunal Mehra is the president, whole-time director and co-CEO of the company. He is also the chairperson of its corporate social responsibility committee. Previously, he was associated with real estate company Jones Lang Lasalle as a senior manager.
Joseph Raymond Gagnon
Hillhouse Investment partner Joseph Raymond Gagnon joined the company in November 2022, and he is the non-executive nominee director of the company. Holding an overall experience of 24 years in the real estate sector, he has previously worked with GE Real Estate Corporation, Warburg Pincus Asia LLC and General Electric Capital.
Siddhartha Gupta
Alta Capital Management’s Siddhartha Gupta is a non-executive nominee director of Table Space, joining the company in November 2022. Prior to this, he worked with BofA Securities India Limited and BlackStone.
Nilesh Shivji Vikamsey
Nilesh Shivji Vikamsey has been an independent director of the company since June 2025. He is also the chairperson of its audit committee.
Ganesh Natarajan
Zensar Technologies’ CEO Ganesh Natarajan joined as an independent director on Table Space’s board in June 2025.
Mukeeta Pramit Jhaveri
Engaged with Table Space’s board as an independent director since July 2026, Mukeeta Pramit Jhaveri serves as the chairperson for UTI Trustee Company and Taurus Trading. She has over 39 years of experience in finance and strategy.
Anthony Charles Philip Couse
Anthony Couse joined the company in June 2025 as an independent director and is currently the partner at Elevate Capital Group. Previously, he worked with JLL India as CEO Asia Pacific.
Key Managerial Personnel
Bittu Varghese Nellissery
Joining the managed workspace provider in July 2023, Bittu Varghese Nellissery is the CFO of the company. Prior to this role, he worked with Sula Vineyards as CFO, and has also worked with companies like Pernod Ricard India, Karamchand Appliances and Coca Cola Beverages.
He has about 23 years of experience in the fast moving consumer goods and the alcoholic beverages sector.
In FY26, Nellissery was paid an aggregate compensation of ₹3.54 Cr by Table Space.
Ful Kumar Gautam
Gautam has been Table Space’s company secretary since December 2025 and also took over as compliance officer of the company in February 2026. Prior to this role, he served a similar position in Azad Engineering for nearly eight years.
Gautam received a remuneration of ₹12.6 Lakh for the fiscal year ending March 2026.
Krishnaswamy Nagarajan
Nagarajan has been the COO of the company since July 2021. He previously served at EY, and has been a director at IBM. He has also worked with companies like Realistic Realtors, DHFL Pramerica Life Insurance, InterGlobe Enterprises and UNHCR.
For the full year FY26, he received a compensation of ₹5.16 Cr.
Sunil Varrier
Sunil Varrier joined the company in February 2022 as chief acquisition officer. Previously, he worked with IndoSpace as managing director revenue for a short period of six months. He has also been associated with companies like Shapoorji Pallonji Real Estate, K Raheja Corp, Accenture and JLL India.
In FY26, Varrier was paid an aggregate compensation of ₹4.2 Cr by Table Space.
Nitish Lal Bhasin
Bhasin has been associated with Table Space since January 17, 2022 as its chief sales officer. Prior to joining the company, he was with JLL as an executive director and holds an overall experience of 22 years in office leasing transactions, commercial real estate and sales and business development.
Bhasin received a remuneration of ₹5.09 Cr in the previous fiscal.
Ashwin Chandrasekar
Chandrasekar, CITO of Table Space, joined the company in May 2026. Previously, he was associated with Third Wave Coffee as its CTO. He has also worked with companies like Amazon, Inviz AI Search, ThoughtWorks, Cognizant and Buybaaar, among others.
Abhinav Surana
Abhinav Surana joined Table Space as its general counsel in August 2025. Previously, he worked with Macrotech Developers Limited as corporate legal head. He has also worked with companies like Aditya Birla ARC, Tata Sons, Juris Corp, Cyril Amarchand Mangaldas and Herbert Smith Freehills.
For the full year FY26, he received a compensation of ₹1.4 Cr.
Dimple Bakshi
Dimple Bakshi has been the CHRO of Table Space since October 2019, and has an overall experience of 22 years in human resources management. She has worked previously with companies like Accenture Solutions and Bank of America Continuum Solutions, XecuteHR Solutions and Zoyashi.
In FY26, Bakshi was paid an aggregate compensation of ₹4.08 Cr by Table Space.
Megha Agarwal
Megha Agarwal, CMO of Table Space, has been associated with the company since March 2024. With an overall experience of 14 years in brand strategy and digital marketing, she has previously worked with HUL as global marketing manager of nutrition and WeWork India as head of brand and marketing.
For the full year FY26, she received a compensation of ₹1.75 Cr.
John M Hogan
John M Hogan joined the company in December 2024 as Table Space’s chief sales officer of Americas. He started his career as a sales assistant at CB Commercial Real Estate Group and as a commercial real estate consultant at Julien J Studley. He also worked with Accenture for nearly three decades.
Hogan received a remuneration of ₹5.4 Lakh for the fiscal year ending March 2026.