Executive Centre India Secures SEBI Approval for ₹2,600 Crore IPO
Executive Centre India has received SEBI approval for its ₹2,600 crore IPO, consisting entirely of fresh equity shares. The premium flexible workspace provider, operating since 2008, maintains 89 centers across 14 cities in seven countries. The company reported strong FY25 performance with revenue of ₹1,322.64 crore (up 27.59%) and EBITDA of ₹713.32 crore. IPO proceeds will fund subsidiary investments and acquisitions within the TEC Group structure.
*this image is generated using AI for illustrative purposes only.
Executive Centre India, a premium flexible workspace solutions provider, has secured approval from markets regulator SEBI to raise ₹2,600 crore through an Initial Public Offering. The Mumbai-based company's IPO represents a significant milestone in India's thriving primary market landscape.
IPO Structure and Fund Utilization
The public offering consists entirely of fresh equity shares with no Offer For Sale component, according to the draft red herring prospectus filed in July. The company has outlined specific plans for the IPO proceeds, focusing on strategic investments and acquisitions within its corporate structure.
| Fund Utilization: | Purpose |
|---|---|
| Primary Investment: | Investment in subsidiary TEC Abu Dhabi |
| Acquisition Financing: | Part-payment for acquisition of TEC SGP and TEC Dubai from TEC Singapore |
| Acquisition Source: | TEC Singapore (corporate promoter) |
Business Operations and Market Position
Executive Centre India stands as one of the early international brands leading premium flexible workspace solutions among operators currently functioning in India. The company has maintained operations in India since 2008 as part of the TEC Group, which brings over three decades of experience in delivering space-as-a-service solutions.
The company operates as an India-based operator with extensive pan-Asia operations spanning multiple countries and regions:
- India: Primary market base
- Singapore: Regional hub operations
- Middle East: Dubai and Abu Dhabi in the United Arab Emirates
- Southeast Asia: Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in Philippines
- South Asia: Colombo in Sri Lanka
Portfolio Scale and Geographic Reach
As of March 31, 2025, Executive Centre India's operational footprint demonstrates significant scale across international markets.
| Portfolio Metrics: | Scale |
|---|---|
| Total Operational Centers: | 89 centers |
| Geographic Coverage: | 14 cities |
| Country Presence: | 7 countries |
Financial Performance Analysis
The company has demonstrated robust financial growth, reflecting strong operational performance and market demand for premium flexible workspace solutions.
| Financial Metrics: | FY25 | FY24 | Growth (%) |
|---|---|---|---|
| Revenue from Operations: | ₹1,322.64 crore | ₹1,036.62 crore | +27.59% |
| EBITDA: | ₹713.32 crore | ₹583.54 crore | +22.24% |
The revenue growth of 27.59% demonstrates the company's ability to expand its market presence and capture increasing demand for flexible workspace solutions across its operational markets.
Primary Market Context
The SEBI approval comes during a remarkable period for India's primary market. In 2025, companies raised a record nearly ₹1.76 lakh crore through IPOs, surpassing the ₹1.60 lakh crore mobilized by 90 firms in 2024 and significantly exceeding the ₹49,436 crore raised by 57 companies in 2023. This performance reflects strong domestic liquidity, resilient investor sentiment, and a supportive macroeconomic environment for public offerings.
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