Incuspaze in talks to raise $25 million
Flexible workspace provider Incuspaze is in discussions to raise a $25 million pre-IPO round as it prepares for a public listing next year.
The company had recently secured $8 million (about '67 crore) in funding.
«Incuspaze plans to acquire another 2 million sq ft by investing '100 crore by the end of December 2025. On the back of growing demand for flex spaces, Incuspaze is focusing on the development of new centres across Delhi-NCR, Pune, Bengaluru and Hyderabad,» said a person aware of the development.
The growing demand for flexible workspaces in India is driving a wave of public listings, with leading companies in the sector pursuing aggressive expansion plans. Awfis, which recently went public, became the second company in the segment to list, following EFC (I). Meanwhile, Smartworks has filed preliminary papers with Sebi to raise funds via an IPO.
Other key players, including Tablespace, Bhive and WeWork India, are also planning to go public in the near future. Currently, Incuspaze has 4 million sq ft of portfolio with a presence in 18 cities in India. India has total flexible workspace stock ranging between 62 and 64 million sq ft as of 2023 and is forecasted to grow to 116-118 million sq ft across tier-1 cities by 2027 with a CAGR of approximately 17%.
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