Executive Centre India Secures SEBI Approval for ₹2,600 Crore IPO

Executive Centre India Ltd, a provider of premium flexible workspace solutions, has received regulatory clearance from the Securities and Exchange Board of India (SEBI) to launch its ₹2,600 crore initial public offering (IPO). The proposed offering will comprise a fresh issue of equity shares with a face value of ₹2 each. As per the company’s draft red herring prospectus (DRHP), proceeds are earmarked predominantly for strategic expansion, including investment in TEC Abu Dhabi to part-fund acquisitions of TEC Singapore and TEC Dubai, alongside other general corporate purposes.

Under the IPO structure, at least 75% of the issue is reserved for qualified institutional buyers (QIBs), with the remaining allocation split between retail investors (up to 10%) and non-institutional investors (up to 15%).

Executive Centre India, part of the Singapore-based TEC Group, has operated in India since 2008 and runs a pan-Asia network of managed office spaces. As of March 31, 2025, its portfolio included 89 operational centres across 14 cities in seven countries, serving more than 1,550 clients.

In the financial year ended March 2025, the company reported a 27.6% rise in revenue to ₹1,322.6 crore and EBITDA of ₹713.3 crore, reflecting continued growth ahead of its market debut.