Coworking firm Incuspaze, which gives overseen flexible office spaces to corporates, is looking to raise USD 25 million (over Rs 210 crore) to extend its trade over major cities some time recently arranging to begin its initial public offer (IPO).

Established in 2016, Incuspazehas a nearness in 44 areas over 18 cities with a add up to portfolio of 40 lakh square feet. Given the developing request for adaptable workspaces, he said the company serious to begin new centres over Delhi-NCR, Pune, Bengaluru and Hyderabad. Prior this year, Incuspaze raised USD 8 million from the India Inflection Opportunity Finance and other financial Institutions

"We arrange to include another 2 million (20 lakh) square feet in our portfolio by the conclusion of December 2025. We are looking to raise a pre-IPO circular of USD 25 million. The company has a arrange to dispatch its IPO in the following few a long time. The request for premium office space remains solid, particularly from multinational companies looking to set up Global Capability Centres(GCCs) in India," said Incuspaze author and CEO Sanjay Choudhary.

In the past six months, Incuspaze has improved its portfolio with an expansion of 2 million square feet of office space over Delhi NCR, Mumbai, Chennai, Pune, Jaipur, Lucknow and Bengaluru. In July this year, Incuspaze had taken on rent around 5.8 lakh square feet of office space from property proprietors in Gurugram to meet corporate demand.

According to real estate consultant Vestian, adaptable office space administrators had a portfolio of 67 million sq ft of prime office space till June this year and the number is set to cross 100 million sq ft by 2026-end as they see to grow in the midst of a rise in request from corporates. The adaptable office showcase has seen a request move post-pandemic from new businesses and SMEs to huge aggregates owing to adaptability and cost advantages".

"Indian adaptable office space administrators are geared up to fulfil the necessities of expansive conglomerates. They have included 1.84 lakh seats inside a year, coming to near to 1 million as of H1 2024," Vestian CEO Shrinivas Rao said final month.

source: bwdisrupt.