Table Space Files for IPO, Aims to Raise ₹800 Crore

Managed workspace provider Table Space has filed its Draft Red Herring Prospectus (DRHP) with India's SEBI for an Initial Public Offering (IPO). The company aims to raise approximately ₹800 crore through the share sale, which will include both a fresh issue of shares and an offer for sale (OFS) component.

The IPO will comprise a fresh issue of shares worth ₹800 crore and an OFS of 6.55 crore shares. Key shareholders like Hillhouse Investments are set to divest a significant portion, selling 4.9 crore shares. Founder Karan Chopra and co-CEO Kunal Mehra will also sell smaller lots. The company is reportedly considering a pre-IPO funding round of ₹160 crore.

Table Space reported a substantial increase in operating revenue, reaching ₹2,262 crore in FY26, a 66% year-on-year growth. The company also narrowed its net loss to ₹402 crore, a 74% reduction from the previous fiscal year, despite total expenses rising 55% to ₹2,383 crore. Normalised EBITDA showed improvement, standing at ₹453.8 crore compared to ₹202.3 crore in FY25.

While the revenue growth and narrowing losses present a potentially attractive narrative for public market investors, Table Space operates in a capital-intensive sector. The company will likely face scrutiny over its profitability path and cost structure, as it aims to compete with peers that may already be profitable. The proceeds from the IPO are earmarked for debt reduction and potential acquisitions, which could bolster its market position.