Table Space IPO: Files DRHP With SEBI To Raise Rs 800 Cr Via Fresh Issue

Table Space has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to Rs 800 crore through a fresh issue of equity shares. The managed workspace provider is also planning an offer for sale (OFS) of up to 6.54 crore shares.

The proposed public issue will have equity shares with a face value of Re 1 each. The IPO will give existing shareholders an opportunity to sell part of their holdings, while the fresh issue will provide capital directly to the company.

Debt Repayment To Get Priority

Table Space plans to use the majority of the net proceeds from the fresh issue to repay or prepay borrowings worth Rs 550 crore. The company will also use a part of the funds for unidentified acquisitions and general corporate purposes.

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The proposed acquisitions are expected to support the company’s inorganic growth plans. However, Table Space has not identified the acquisition targets in the DRHP details shared for the issue.

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Hillhouse-backed AGS TS II Holdings Pte Ltd, the promoter selling shareholder, will offer up to 4.98 crore shares through the OFS. Co-founders Karan Chopra and Kunal Mehra will sell up to 13.11 lakh shares and 1.01 crore shares, respectively.

Other selling shareholders include Srinivas Prasad, Narendra Kumar Kamaraju, RSP Real Estate LLP and Ramachandra Venkatasubba Rao. They will offer up to 19.67 lakh shares, 7.24 lakh shares, 8.40 lakh shares and 7.24 lakh shares, respectively.

Table Space Business And Founders

Amit Banerji and Karan Chopra co-founded Table Space in 2017. The company provides customised coworking and managed workspace solutions, mainly for enterprise clients. Its offerings are designed around the workplace requirements of large organisations.

Table Space has a capacity of more than 11 million square feet. It serves over 425 enterprise clients across 9 cities and more than 80 centres. The company operates in a segment where businesses are increasingly seeking flexible office solutions instead of committing to traditional long-term office setups.

At the DRHP date, AGS TS II Holdings was the largest shareholder with a 41.76% stake. The late Amit Monoranj held 22.14%, while Karan Chopra owned 12.47%. Bergamo Trust held 6.19%, followed by Narendra Kumar Kamaraju with 4.05% and KAM Advisors with 3.96%.

Revenue Rises 66.3% In FY26

Table Space reported strong operating revenue growth in the financial year ended March 2026. Its operating revenue increased 66.3% year-on-year to Rs 2,262 crore in FY26 from Rs 1,360 crore in FY25.

The company reported a net loss of Rs 403 crore in FY26. The loss was linked to fair value changes in preference shares. However, its profit before tax stood at Rs 135 crore during the year.

The results highlight the company’s revenue expansion as well as the impact of financial and accounting adjustments on its bottom line. Debt reduction through the IPO could help Table Space manage its borrowing obligations as it continues to expand its workspace network.

Managed Workspace IPO Competition

Table Space is entering the public markets at a time when the managed workspace industry is gaining visibility among investors. Smartworks, WeWork India, Indiqube and Awfis are among the listed peers in the segment.

The final size, pricing and timetable of the Table Space IPO will be decided after regulatory clearances and further issue-related processes. Axis Capital, BofA Securities India, CLSA India, IIFL Capital Services and JM Financial are the book running lead managers. KFin Technologies has been appointed as the