Amazon Expands in Bengaluru with 1.1 Million Sq Ft New Office Space
- Industry News
- June 20, 2024
WeWork India reported a 26.7% revenue growth to Rs 1,665 crore in FY24, reducing losses and achieving a strong EBITDA margin of 64.42%. Amid its global parent’s restructuring, WeWork India is considering an IPO with a $2-2.5 billion valuation, reflecting confidence in India’s flexible workspace demand.
READ MOREAwfis Space Solutions, a leading co-working provider in India, has gone public, leveraging its innovative profit-sharing model. Chairman Amit Ramani highlights investor confidence, growth in Tier II cities, and the rising demand for flexible workspaces as key drivers behind the company’s expansion, despite challenges posed by the pandemic and global competitors.
READ MORETable Space, a leading Indian managed workspace provider, is targeting a $2.5 billion valuation for its 2025 IPO. With over 60 centres and major clients like Google and Apple, the company plans to nearly double its 9.5 million sq ft footprint within three years, despite global coworking market challenges.
READ MOREDev Accelerator Limited is set to expand its coworking spaces through a new IPO, offering 2.47 crore equity shares. The funds will be used to set up new spaces, repay debts, and general corporate purposes. After turning profitable in FY24, the company aims to solidify its position in the flexible workspace market.
READ MORESeveral coworking companies, including WeWork India, SimplWork Offices, and TableSpace Technologies, are preparing IPOs following Awfis’ successful listing. Investor interest is driven by the coworking sector’s strong growth, asset-light model, and profitability. Private equity investments and acquisitions are accelerating the industry’s transformation into managed office spaces for large corporations.
READ MOREIndiQube, a Bengaluru-based coworking provider, plans to raise INR 1,000-1,500 Cr through an IPO, primarily via fresh share issuance. The company, which operates in 12 cities and serves clients like Walmart and Philips, aims to file its draft red herring prospectus within three months.
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