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Bhive Workspaces is planning to raise roughly Rs 800 crore through an IPO in the coming fiscal time. The company aims to diversify beyond its primary request of Bengaluru, which presently accounts for 95 of its portfolio.
Bhive is in conversations with bankers to finalize the details, targeting Rs 500 crore from primary deals and Rs 300 crore from secondary deals, according to CEO Shesh Rao Paplikar.
The Bhive author group holds a 54 stake in the company, with fresh investments from Blume gambles and high- net- worth individualities. Bhive is expanding its managed office space portfolio, aiming for 4.8 million sq ft in operation by FY26, coinciding with its IPO plans.
Presently, the company earns over Rs 168 crore annually from rental income and plans to add 3 million sq ft of managed office spaces in Bengaluru, Chennai, Delhi- NCR, and Mumbai.
Bhive is also exploring the accession of office means, beyond its leasing model. The thing is to double rental income within the coming 2- 3 times, targeting Rs 700 crore by FY26 also, Bhive intends to reduce its Bengaluru request presence to 75 within two times and farther to 50 within five times.
The company presently operates 28,000 divisions and plans to increase this to 60,000 divisions, totaling 4.8 million sq ft by FY26. India’s flexible office space request is fleetly growing, driven by demand from large enterprises and nimble startupspost-pandemic.
The top seven metropolises in India now have over 53 million sq ft of functional flexible office stock, a 75 increase from thepre-pandemic position of 30.3 million sq ft, accommodating roughly 839,250 seats.
According to JLL India, India is one of the swift- growing flexible office requests encyclopedically, with the force of flexible office space anticipated to double to 106 million sq ft in the coming five times.
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