Tag: Kotak Mahindra Capital

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Executive Centre India Gets SEBI Nod for ₹2,600-Crore IPO

NEW DELHI: Executive Centre India has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The IPO will feature a fresh equity share issuance with a face value of ₹2 each, totaling up to ₹2,600 crore. As outlined in the draft red herring prospectus (DRHP), the net proceeds are intended primarily for investments in TEC Abu Dhabi, a direct subsidiary, and to fund part of the acquisition costs for TEC Singapore and TEC Dubai. These two entities are currently step-down subsidiaries of TEC Singapore, a corporate promoter of the company, and…

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…