Tablespace Technologies Limited (Table Space), a Bengaluru-headquartered managed workspace solutions provider, has filed its Draft Red Herring Prospectus with SEBI for its proposed IPO.
According to the DRHP, the proposed IPO comprises a fresh issue of equity shares aggregating up to ₹800 crore and an offer for sale (OFS) of up to 65,475,432 equity shares of face value ₹1 each. The OFS comprises up to 49,834,140 equity shares by Investor Promoter Selling Shareholder AGS TS II Holdings Pte. Ltd. (ultimately owned and controlled by funds of Hillhouse Investment); up to 1,311,430 equity shares by Karan Chopra and up to 10,074,740 equity shares by Kunal Mehra (together, the Individual Promoter Selling Shareholders). The company’s promoters are Karan Chopra, Kunal Mehra, Sarita Banerji, KAM Advisors Private Limited and AGS TS II Holdings Pte. Ltd.
The remaining OFS comprises up to 1,967,140 equity shares by Srinivas Prasad, up to 723,910 equity shares by Narendra Kumar Kamaraju, up to 840,162 equity shares by RSP Real Estate LLP and up to 723,910 equity shares by Ramachandra Venkatasubba Rao (collectively, the Other Selling Shareholders).
The company provides bespoke, enterprise-grade managed workspace solutions for global capability centres (GCCs), Fortune 500 companies and multinational corporations, operating on an integrated “single-cheque” model spanning leasing, design, fit-out, operations, facilities management and compliance across the workspace lifecycle.
According to the CBRE Report cited in the DRHP, since its incorporation in 2017, the company has become one of the largest managed workspace operators in India by Leased Area of 9.33 million square feet, 98.01% of which was in Grade A properties across 33 key office clusters in eight Tier-1 cities as of March 31, 2026. It further added that the company had the highest occupancy rate for Mature Facilities/mature centers at 92.64%, among Benchmarked Operators
As per the DRHP, the company reported a Normalised Revenue of INR 24,776.83 mn for Financial year 2026, which grew at 56.42% over last year. For the same period, they also reported a Normalised EBITDA of INR 4,537.99 mn, registering a growth of 124. 36% over last year. Profit before exceptional items and tax stood at INR 1,347.12 mn
Axis Capital Limited, BofA Securities India Limited, CLSA India Private Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and JM Financial Limited are the Book Running Lead Managers to the issue, with KFin Technologies Limited is the Registrar.
