Table Space Targets $2.5bn Valuation for 2025 IPO

• Bengaluru-based workspace provider, Table Space, plans for an IPO next year with a target valuation of $2-2.5 billion.
• The company's current valuation stands at $550 million, following a $300 million series D round from China's Hillhouse Capital.
• Table Space's income from operations rose 36% to $109.2 million in FY24, despite profit margins dipping from 6.8% to 5.5% due to increased investments.
• The company has expanded its real estate portfolio to over 5.7 million square feet across six major Indian cities and plans to double this footprint within the next three years.
• Its clients include US-based corporations like Google, Apple, Netapp, AMD, and Zscaler, contributing to an improved occupancy rate of 91% as of March 2024.

Source: The Arc