Executive Centre India Secures SEBI Nod For ₹2,600 Crore IPO

Premium flexible workspace solutions provider Executive Centre India has obtained approval from the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO) worth ₹2,600 crore. The IPO will consist entirely of a fresh issue of equity shares, with no Offer For Sale (OFS) component.

The company had filed its draft red herring prospectus in July 2025, outlining the proposed structure of the offering. This approval comes amid strong activity in India’s primary market following record fundraising in 2025.

IPO Structure and Fund Utilisation

The proposed IPO will raise ₹2,600 crore through a complete fresh issue of shares, ensuring that all proceeds flow directly to the company. Executive Centre India plans to use the funds for investment in its subsidiary TEC Abu Dhabi and for part-payment of consideration related to acquisitions.

These acquisitions include step-down subsidiaries TEC SGP and TEC Dubai from TEC Singapore, one of its corporate promoters. The allocation reflects the company’s strategy to strengthen its international presence and consolidate operations across key markets.

Company Profile and Market Position

Executive Centre India is among the early international brands to offer premium flexible workspace solutions in India. The company has been operating in the country since 2008 and is part of the TEC Group, which has over three decades of experience in delivering space-as-a-service.

Its operations span multiple regions, including India, Singapore, and the Middle East, covering Dubai and Abu Dhabi. Beyond these, the company also has a presence in Jakarta, Ho Chi Minh City, Manila, and Colombo, making it a significant player in the pan-Asia flexible workspace market.

Financial Performance in Recent Years

On the financial front, Executive Centre India reported revenue from operations of ₹1,322.64 crore in FY25, marking a 27.59% increase over ₹1,036.62 crore in FY24. The company’s EBITDA stood at ₹713.32 crore in FY25, up from ₹583.54 crore in the previous year.

These figures indicate robust growth in both top-line and operating profitability. The improvement reflects rising demand for flexible workspace solutions and efficient cost management across its portfolio.

Read More: SEBI Approves ₹650 Crore IPO Of Kusumgar.

Conclusion

Executive Centre India’s ₹2,600 crore IPO approval marks a significant milestone for the company and adds momentum to India’s buoyant primary market. The funds will be deployed to strengthen international operations and support strategic acquisitions.

With a growing footprint and strong financial performance, the company is positioned to capitalise on rising demand for flexible workspace solutions. The offering reflects broader trends of expansion and investor confidence in India’s evolving office space market.

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