Indian managed workspace provider Table Space is planning an IPO in 2025, targeting a valuation of $2.5 billion. The company, founded in 2017, operates over 60 locations and serves major corporate clients like Google and Apple. With strong demand for flexible office spaces in India, Table Space aims to double its real estate footprint within three years, despite challenges in the global coworking market. The company’s IPO follows the successful public debut of Awfis, another Indian workspace provider

The coworking market in India is one of the fastest growing in the world due to the continuation of offshoring by multinationals, though these spaces tend to be more oriented towards call centers (or GCCs) and open desk set ups, as opposed to the suites and meeting rooms popular across EMEA or North America.

Desana notes that they’ve partnered up to make Awfis’ 100 workspace options bookable through their platform.

Mint reports that a shift may be happening behind the scenes at Awfis, one of India’s 5 biggest coworking space operators. The post is speculative, but does quote 3 anonymous sources, and states that a couple of family offices who were early investors are exiting the business ahead of a $40M investment from VC firm A19.

As mentioned last week, India is one of the biggest flex space markets on the planet, so keeping an eye on funding and expansion moves across this regions is a good idea, especially as demand continues to grow so rapidly.

Reminder: Flex space demand in the region is up over 26x from 2017 (43M sqft in Q1/23 from 1.6M sqft in 2017) according to Avendus Capital data.

Mint share that Awfis are mulling a 2023 IPO. This follows Awfis having 150 centres across 17 cities, offering about 90,000 desks at a price range of ₹7,000-20,000 per month.

Fascinating to see their numbers. "Our revenue grew to ₹280 crore in last financial year from ₹220 crore in previous fiscal year. This financial year, we are targeting around ₹600 crore (≈$73.6M) revenue," CEO Amit Ramani said, highlighting that the firm has already achieved a monthly run rate of ₹500 crore in revenue.