Table Space, an Indian workspace provider, is aiming for a $2.5 billion valuation in its upcoming IPO next year, according to TechCrunch.
The Bengaluru-based startup has chosen Axis as its IPO bookrunner.
Founded in 2017, Table Space offers customized office spaces, co-working areas, and meeting rooms in tech-enabled campuses. It was valued at approximately $550 million after a $300 million investment from Hillhouse Capital in late 2022.
Operating over 60 centers in major Indian cities, Table Space serves Fortune 500 clients like Apple, Google, and Mastercard. The company plans to expand its real estate portfolio from 9.5 million to 18 million square feet in three years, with a $535 million investment.
Table Space expects annual revenue to reach nearly $600 million by March 2027, according to co-founder Kunal Mehra.
Despite challenges in the global co-working market, Indian demand for flexible office spaces remains high, driven by the tech sector and multinational corporations. Table Space is looking to capitalize on this trend amid strong IPO performances by competitors like Awfis.
This year, the Indian market has seen more tech IPOs than the U.S., raising over $9 billion as valuation multiples hit highs.
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