Executive Centre India gets Sebi nod for ₹2,600-cr IPO; check key details

Executive Centre India, a flexible workspace solutions provider, has received approval from the Securities and Exchange Board of India (Sebi) to proceed with its initial public offer (IPO), according to a filing with the markets regulator. The company aims to raise ₹2,600 crore through a fresh issue of equity shares bearing a face value of ₹2 each. 

 

According to the draft red herring prospectus (DRHP), the company has reserved at least 75 per cent of the issue for qualified institutional buyers (QIBs), not more than 10 per cent for retail investors and not more than 15 per cent for non-institutional investors (NIIs).

 

 

Executive Centre India Limited is one of the early international brands to offer premium flexible workspace solutions in India. The company has been operating in India since 2008 and is a part of the TEC Group. The company is an India-based operator with pan-Asia operations, spread across India, Singapore, the Middle East, including Dubai and Abu Dhabi in the United Arab Emirates (UAE), the rest of Asia comprising Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in the Philippines and Colombo in Sri Lanka. 

 

The company primarily leases bare shell properties, designs, builds and transforms them into fully managed, tech-enabled, modern and aesthetically pleasing office spaces within Grade A office buildings from landlords across these markets. As of March 31, 2025, 80 of its 89 operational centres had private offices across all markets and six managed operational solutions located in India and the Middle East. As of March 31, 2025, the total portfolio comprised 89 operational centres across 14 cities in seven countries. 

Check Bharat Coking Coal IPO allotment status today

Here are the key details of the Executive Centre India IPO:

Executive Centre India IPO objective

According to the DRHP, the company plans to utilise the net fresh issue proceeds towards an investment in TEC Abu Dhabi, a direct subsidiary, to finance part-payment of the consideration for the acquisition of TEC SGP and TEC Dubai, two step-down subsidiaries currently held by one of the company’s Corporate Promoters, TEC Singapore. The remaining proceeds will be allocated towards general corporate purposes.

Executive Centre India IPO registrar, lead manager

Kfin Technologies is the registrar of the issue. Kotak Mahindra Capital Company, ICICI Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers.

Executive Centre India financial overview

In the financial year ended March 31, 2025 (FY25), the company reported a total income of ₹1346.39 crore, up 27.58 per cent from ₹1055.31 crore in FY24. The company's revenue from operations stood at ₹1322.64 crore in FY25, up 27.59 per cent from ₹1036.620 crore recorded in FY24. Its Ebitda also showed a steady rise, reaching ₹713.32 crore in FY25, up from ₹583.54 crore in FY24.