Tag: Innov8

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Innov8 Founder Acquires Golf Links Bungalow for ₹85 Crore

AI-generated Representative Image Ritesh Malik, the founder of co-working firm Innov8, acquired a 575-square yard bungalow in Delhi’s Golf Links for approximately Rs 85 crore, as confirmed by two sources familiar with the transaction. This deal contributes to a growing trend of high-value residential purchases by corporate leaders in affluent areas of Delhi, with Golf Links emerging as a favored choice for entrepreneurs in recent years. India Sotheby’s International Realty facilitated the transaction, representing both the buyer and seller while confirming their exclusive mandate. “Golf Links has become the preferred choice for entrepreneurs,” said Ashwin Chadha, CEO of India Sotheby’s…

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Innov8 Acquires Vatika to Grow Managed Workspace Offerings

NEW DELHI: Innov8 has announced its acquisition of Vatika Business Centres for an undisclosed sum. This acquisition will enhance Innov8’s portfolio by adding 11 business centres located in New Delhi, Gurugram, Chennai, Bengaluru, Hyderabad, Noida, and Pune. The integration will incorporate Vatika’s established corporate clientele and managed office services into Innov8’s operations. According to Gaurav Bhalla, managing director at Vatika Hospitality, the new partnership aims to enhance service offerings, promote technological integration, and expand the network of workspaces. Rakesh Kumar, CFO of PRISM and Innov8, stated that the company anticipates the deal will enhance operational efficiencies, improve margins, and boost…

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Innov8 Sells 3% Stake for ₹1,000 Crore to Boost Co-Working Expansion

NEW DELHI: Innov8, a co-working firm owned by OYO, has sold a 3% stake to investors at a valuation of ₹1,000 crore to fuel its expansion in response to the growing demand for flexible workspaces, according to sources. Raymond Family Office has emerged as the primary investor, acquiring nearly 2% of the shares. OYO Group, the parent company, has chosen not to comment on the matter. Earlier this year, Innov8 raised ₹110 crore from various investors, diluting 10% of its equity to esteemed investors, including the family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia. Founded in…