Category: Commercial

Stay updated with the latest developments in commercial real estate. Our coverage includes market trends, leasing activity, office space demand, retail property updates, and major commercial deals. Whether you’re an investor, developer, or tenant, get expert insights and news on the evolving commercial property landscape.

CommercialLatest Stories

WeWork India Receives Sebi Approval for IPO

NEW DELHI: WeWork India, a provider of flexible workspaces, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The offering will be conducted entirely through an offer for sale (OFS) route, with no new equity issuance as stated in the company’s draft red herring prospectus (DRHP). The IPO includes an OFS of up to 4.37 crore equity shares, each with a face value of ₹10. The selling shareholders, Embassy Buildcon LLP and 1 Ariel Way Tenant, will offload up to 3.34 crore shares and 1.03 crore shares, respectively. Notably, the company…

CommercialLatest Stories

Smartworks Coworking Shares Surge 9% in Market Debut

NEW DELHI: Smartworks Coworking Spaces Ltd’s shares saw a rise of over 9% on Thursday, closing above the issue price of Rs 407. The stock debuted at Rs 436.10, reflecting a 7.14% increase from the issue price on the BSE. It even peaked at Rs 469 during the day, marking a high of 15.23%. Ultimately, shares closed at Rs 445.10, representing a 9.36% gain. On the NSE, it opened at Rs 435, up by 6.87%, and finished at Rs 445.05, a rise of 9.34%. The company’s market capitalization was reported at Rs 5,079.99 crore. In terms of trading volume, 16.77…

CommercialLatest Stories

Executive Centre aims to raise ₹2,600 crore for India IPO

The Executive Centre is set to launch an initial public offering in Mumbai with the potential to raise ₹26 billion ($303 million), as reported by sources familiar with the situation. This move aims to leverage the growing demand for workspace across India. The flexible workspace provider has engaged Kotak Mahindra Capital Co. and ICICI Securities Ltd. to facilitate the listing process. The company intends to submit preliminary documentation, known as a draft red herring prospectus, shortly. Neither the company nor its financial advisors have responded to requests for comment. The Executive Centre will join other companies like Wework India Management…

CommercialLatest Stories

WeWork India Secures Sebi Approval for ₹1,000 Crore IPO

NEW DELHI: WeWork India, a flexible workspace provider, has received approval from the Securities and Exchange Board of India (SEBI) for its ₹1,000-crore initial public offering (IPO). The Bengaluru-based co-working firm, operating under the WeWork brand, is promoted by Enam Securities in India. As per the company’s draft red herring prospectus (DRHP), the IPO consists of a fresh issue of ₹750 crore and an offer for sale (OFS) of ₹250 crore by Enam. Once listed, shares will trade on both BSE and NSE with a face value of ₹10 each. The proceeds from the fresh issue will be allocated towards…

CommercialLatest Stories

Smartworks IPO Subscribed 13.45 Times

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) of ₹583 crore was oversubscribed by 13.45 times by the close of bidding on Monday. During the three-day IPO, bids reached 13,99,08,852 shares, significantly exceeding the 1,04,01,828 shares available, according to NSE data. The Qualified Institutional Buyers (QIB) segment received 24.41 times the subscription, while Non-Institutional Investors subscribed 22.78 times. Retail Individual Investors (RIIs) saw a subscription of 3.53 times. Additionally, Smartworks Coworking Spaces has secured ₹173.64 crore from anchor investors. The IPO was launched last Thursday, aiming to raise nearly ₹600 crore to facilitate business expansion and debt reduction.…

CommercialLatest Stories

Smartworks Coworking IPO Fully Subscribed by Day 2

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) was subscribed 1.15 times by the end of the second day of bidding on Friday. According to NSE data, the IPO received bids for 1,19,96,496 shares, surpassing the 1,04,01,828 shares available. The non-institutional investor category saw a subscription rate of 1.79 times, while retail individual investors (RIIs) subscribed 1.18 times. Qualified institutional buyers (QIBs) had a 63% subscription rate. Smartworks Coworking Spaces has secured Rs 173.64 crore through anchor investors. Launching on Thursday, the IPO aims to raise nearly Rs 600 crore to facilitate business expansion and debt reduction. The…

CommercialLatest Stories

DDA Approves Reforms to Boost Delhi’s Commercial Real Estate

Representative image created by AI NEW DELHI: The Delhi Development Authority (DDA) has enacted significant reforms aimed at revitalizing Delhi’s commercial real estate sector, making the city more appealing for investment and large-scale development. This announcement was made on Friday. During a DDA meeting led by Lieutenant Governor V K Saxena, the agency announced a drastic reduction in amalgamation charges for commercial properties, slashing them from the existing 10% of the circle rate to just 1%. “High amalgamation costs have long been a major hurdle for developers in Delhi. This decision is anticipated to spark a fresh wave of commercial…

CommercialLatest Stories

Smartworks secures ₹173.64 crore from anchor investors pre-IPO

NEW DELHI: Smartworks Coworking Spaces has secured ₹173.64 crore from anchor investors prior to its initial public offering (IPO). In a regulatory update released on Wednesday, Smartworks confirmed the allocation of 42,66,378 equity shares to anchor investors at ₹407 per share. Among the allocated shares, 32.04% were designated for three domestic mutual funds, which utilized a total of four schemes. These mutual funds are Tata Mutual Fund, Baroda BNP Paribas, and Trust Mutual Fund. Other investors include Axis New Opportunities AIF – Series II, SBI General Insurance Co. Ltd, Aditya Birla Sun Life Insurance Co. Ltd, and Societe Generale, among…

CommercialLatest Stories

Nagpur: 158 of 212 MahaMetro Commercial Spaces Remain Vacant

Representative image created by AI NAGPUR: MahaMetro is focusing on maximizing its commercial properties to enhance non-fare revenue; however, a significant portion of its assets remains underutilized. Of the 212 commercial spaces across the active metro network, only 54 have been leased, leaving 158 units empty. This situation presents both challenges and opportunities for the transit authority, according to data from MahaMetro. These commercial spaces are distributed across stations and land parcels, including approximately 140 small units, 40 larger properties, and various kiosks and shops. Despite the low occupancy rate, MahaMetro generated Rs137.81 crore in non-fare revenue for the fiscal…

CommercialLatest Stories

Gujarat Sees 245 New Commercial Projects in 2024-25

AHMEDABAD: Gujarat’s commercial real estate sector is experiencing a robust revival after years of fluctuation. In 2024-25, the state celebrated the launch of 245 new commercial projects — the highest number since 2019-20’s 269 projects. Additionally, 31,520 commercial units were registered, marking a peak in post-Covid registrations, according to the latest GujRERA report. The sector saw a dramatic drop of 58% in registrations during 2020-21, the peak Covid year, primarily due to the work-from-home culture and lockdowns affecting demand. Tejas Joshi, vice-president of Credai Gujarat, stated, “Office demand plummeted sharply, with businesses in sectors like entertainment, food services, gyms, and…