# Table Space
Table Space (formally Tablespace Technologies Ltd) is an Indian managed-office and enterprise flexible-workspace company, founded in 2017 and headquartered in India, which leases large office spaces, converts them into fully serviced, tech-enabled Grade-A campuses and offers them as customized offices, co-working spaces, and managed meeting rooms to enterprise clients across nine Indian cities.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) • [2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) It filed a draft red herring prospectus (DRHP) with India's securities regulator SEBI in August 2026 for an initial public offering, and remains active and privately held as of September 2026.[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/)
| Fact | Detail |
|---|---|
| Founded | 2017, by Amit Banerji (died January 2025), Karan Chopra and, per the DRHP, Kunal Mehra[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) • [3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) |
| Sector | Managed office space and enterprise coworking |
| Funding round | $300 million from Hillhouse Investment, late 2022[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) |
| Largest shareholder | Hillhouse, 41.76% via AGS TS II Holdings Pte Ltd[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) |
| FY26 financials | Revenue ₹22.62 billion (₹2,262.3 crore); net loss ₹4.034 billion (₹403.4 crore; down 74%)[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) |
| Portfolio (company-stated) | 11.46 million sq ft leasable, 80+ centers, 9 cities, 425+ enterprise clients (March 2026)[4](https://tablespace.com/investor-relations) |
| Status | Active; DRHP filed with SEBI August 2026 for an IPO of up to ₹8 billion (₹800 crore) fresh issue plus an offer for sale[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) |
## History and founding
Table Space was founded in 2017. Inc42 identifies the founders as Amit Banerji and Karan Chopra; the DRHP reported in the trade press lists three founders, the late Amit Banerji, Karan Chopra, and Kunal Mehra.[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) • [3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/)
The company grew from a portfolio of about 5 million sq ft at the time of its 2022 fundraise, serving clients such as AMD, Fujitsu, and Microsoft across Delhi-NCR, Bengaluru, Hyderabad, Mumbai, Pune, and Chennai, to more than 60 centers in six cities by October 2024, and to 80+ centers across nine cities, and 425+ enterprise clients by March 2026 on its own figures.[5](https://www.ravapartners.com/table-space-raises-300-million-in-funding-from-hill-house-to-expand-its-operations/) • [1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) • [4](https://tablespace.com/investor-relations)
Amit Banerji died of a heart attack in January 2025. Cofounders Karan Chopra and Kunal Mehra were subsequently appointed co-CEOs, and in September 2025 both became whole-time directors, with Chopra also becoming chairman.[6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/)
## Products and model
Table Space serves large enterprises, particularly [global capability centers](https://www.edgepedia.org/global-capability-center) and [Fortune 500](https://www.edgepedia.org/fortune-500) companies. By October 2024 its clients included Apple, Google, Mastercard, PayPal, AMD, Ericsson, and Shell; a later report added EY, Dell, Fujitsu, GKN Aerospace, JCI, and [Analog Devices](https://www.edgepedia.org/analog-devices).[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) • [6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/) In a single large transaction, it leased 534,000 (5.34 lakh) sq ft in Gurugram to Google at ₹34.7 million (₹3.47 crore) per month.[6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/)
According to its own investor-relations page, the company designs, builds, and operates Grade-A managed office spaces in four lines: Custom Built, ready-to-move-in Suites, design-and-build, and Enterprise Services.[4](https://tablespace.com/investor-relations)
## Funding and investors
Hillhouse [Investment](https://www.edgepedia.org/investment) invested $300 million in Table Space in a round in late 2022; the deal was reportedly closed in October 2022 and was expected to be funded in two tranches.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) • [5](https://www.ravapartners.com/table-space-raises-300-million-in-funding-from-hill-house-to-expand-its-operations/) After the round the company was valued at about $550 million.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) The money was raised to fund expansion: at the time the company planned to grow from 5 million to 8 million sq ft by December 2023.[5](https://www.ravapartners.com/table-space-raises-300-million-in-funding-from-hill-house-to-expand-its-operations/)
Hillhouse remains the largest single backer, holding a 41.76% stake through AGS TS II Holdings Pte Ltd, per the DRHP.[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) A company LinkedIn page states total funding of $374.47 million, including a $74.5 million Series D dated December 1, 2024, but this figure appears only on that page and is unverified by independent reporting in this record.[7](https://in.linkedin.com/company/tablespaceofficial)
## Business and traction
The company's reported scale has grown quickly. In FY25 its operating revenue rose 51% to ₹13.6 billion (₹1,360 crore) from ₹9.08 billion (₹908 crore), while expenses grew 61% to ₹7.35 billion (₹735 crore); during that year it added 3.01 million sq ft with 16 newly launched centers and its premium portfolio grew more than six-fold to 11,461 seats.[6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/) In October 2024 it reported over 9.5 million sq ft of portfolio and a plan to nearly double it within three years by investing about $535 million, with co-founder and president Kunal Mehra saying the company expected annual revenue of nearly $600 million by March 2027.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/)
FY26 marked a financial turnaround. Operating revenue grew 66% to ₹22.62 billion (₹2,262.3 crore) from ₹13.61 billion (₹1,360.5 crore), and the net consolidated loss narrowed 74% to ₹4.034 billion (₹403.4 crore) from ₹15.54 billion (₹1,554.1 crore).[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) On a normalized basis the company reported revenue of ₹24.78 billion (₹2,477.7 crore; up 56.4%), normalized EBITDA of ₹4.538 billion (₹453.8 crore), more than double FY25's ₹2.023 billion (₹202.3 crore), and total income of ₹25.17 billion (₹2,516.6 crore) including ₹2.543 billion (₹254.3 crore) of other income.[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/)
The company's own figures and the DRHP's differ on portfolio size. Table Space's investor-relations page states 11.46 million sq ft of leasable area across 9 cities and 80+ centers as of March 2026; the DRHP, citing a CBRE report, records 9.33 million sq ft of leased area as of March 31, 2026, about 98% Grade A, across 33 office clusters in eight Tier-1 cities, with 92.64% occupancy at mature centers, described as the highest among benchmarked operators.[4](https://tablespace.com/investor-relations) • [3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) The gap likely reflects leasable versus leased definitions, but the sources do not reconcile it.
## Status and outcome: the IPO
Table Space's board and shareholders consented to an IPO in July 2025. An Inc42 exclusive reported board approval for a ₹10 billion (₹1,000 crore) IPO including a fresh issue, along with a ₹2 billion (₹200 crore) pre-IPO private placement approved at a January extraordinary general meeting.[6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/) In October 2024 [TechCrunch](https://www.edgepedia.org/techcrunch) had reported the company was targeting a valuation of $2.5 billion or more for an IPO planned for the following year.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/)
The DRHP filed with SEBI in August 2026 comprises a fresh issue of up to ₹8 billion (₹800 crore) plus an offer for sale of up to 65.5 million (6.55 crore) shares of Re 1 face value; the reported board approval of ₹10 billion (₹1,000 crore) and the filed ₹8 billion (₹800 crore) fresh issue differ, and the filed document governs.[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) • [6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/) Hillhouse is the largest OFS seller at up to 49.8 million (4.98 crore) shares; founder Karan Chopra holds 12.47% and will sell up to 1.311 million (13.11 lakh) shares, and co-CEO Kunal Mehra holds 3.57% and will sell about 10.1 million (1.01 crore) shares.[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/) Listing would place Table Space among Indian flexible-workspace peers that had already gone public, including Awfis, Smartworks, WeWork India, IndiQube, and DevX.[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) • [6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/)
## Recent developments
The company's arc since late 2023 runs through four events. First, in October 2024 it set a $2.5 billion IPO target and announced a roughly $535 million expansion plan to nearly double its portfolio within three years.[1](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/) Second, founder Amit Banerji died in January 2025, and the company moved to co-CEO leadership under Karan Chopra and Kunal Mehra, formalized with Chopra as chairman in September 2025.[6](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/) Third, FY25 and FY26 brought rapid revenue growth and a sharply narrowed loss, with normalized EBITDA more than doubling.[2](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/) Fourth, the company filed its DRHP in August 2026.[3](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/)
## References
1. [Table Space eyes $2.5B valuation in India IPO, TechCrunch](https://techcrunch.com/2024/10/14/table-space-eyes-2-5b-valuation-in-india-ipo/)
2. [Table Space's FY26 Loss Shrinks 74%, Revenue Crosses ₹2,200 Cr, Inc42](https://inc42.com/buzz/table-spaces-fy26-loss-shrinks-74-revenue-crosses-%E2%82%B92200-cr/)
3. [Table Space Files DRHP for Rs 800 Cr IPO, Plus OFS, Startupfeed](https://startupfeed.in/table-space-drhp-rs-800-cr-ipo-fresh-issue-ofs/)
4. [Investor Relations, Table Space](https://tablespace.com/investor-relations)
5. [Table Space raises $300 million in funding from Hill House to expand its operations, Rava Partners](https://www.ravapartners.com/table-space-raises-300-million-in-funding-from-hill-house-to-expand-its-operations/)
6. [Exclusive: Table Space Gets Board Nod For ₹1,000 Cr IPO, Inc42](https://inc42.com/buzz/exclusive-table-space-gets-board-nod-for-%E2%82%B91000-cr-ipo/)
7. [Table Space, LinkedIn company page](https://in.linkedin.com/company/tablespaceofficial)
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