Stylework eyes IPO by FY28, to raise $6 million in pre-Series B round

Stylework, a shared office space provider headquartered in Gurgaon, is planning an initial public offering (IPO) by FY28, senior executives said, adding that the company would grow on the back of rising occupancies from global capacity centres both locally and overseas.

 

"We are considering an IPO in FY27-28, along with attracting investors and boosting capital during FY26 and FY27 with growth private rounds, aiming to enhance ROI for existing stakeholders while increasing our stock's appeal. With Rs 30 crore in annual net revenue and a profitable outlook, we're reinvesting in technology, marketing, and expansion to strengthen our position as a well-governed company," said Sparsh Khandelwal, founder and CEO, Stylework.

 

The company is in the process of closing $6 million in pre-Series B funding.

 

"Co-working operators are raising money and receiving investor interest. Following the growth of office space across sectors, aggregators are also gaining attention from investors and are poised to raise funding rounds. The growth of GCC openings in India has also contributed to this trend," added Khandelwal.

 

Stylework offers three membership models: Hub & Spoke, Walk-to-Work, and Hybrid. Rental rates across its shared workspace portfolio rise by an average of 5-6 per cent annually.

 

The co-working brand currently serves around 1,500 clients, including L&T Energy Hydrocarbon, Clix Capital, and Khaitan & Co. Looking ahead, it aims to onboard 5,000 more clients over the next two years. Additionally, the company plans to acquire co-working/co-living aggregate solutions in FY26 and FY27, respectively.

 

Stylework aims to sell 55,000–65,000 seats in FY26, with India accounting for 85 per cent of total sales, including international markets like Singapore, Dubai, Australia, and Abu Dhabi. The company also plans to add 30,000–40,000 new seats across global markets.

 

The company outlined ambitious expansion plans to add 1,000–2,000 centres across over 10 new countries in six months. Currently operating about 4,000 centres in India, the company plans to scale its domestic network to over 10,000 centres by FY25-26.

 

The company, which competes with WeWork, Tablespace, and others, is targeting nearly doubling its net revenue to Rs 50-60 crore in FY26. It also aims to achieve Rs 100 crore in gross sales value (GSV), projecting a 10-11 per cent growth rate.

 

"Stylework envisions creating a workspace operating system that streamlines office space management, from seat allocation to leases and transactions. As the future of work becomes more flexible and agile, our goal is to offer a unified platform for companies to seamlessly manage workspaces across India and abroad."