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News on Medial
Coworking IPO boom: Can India's flexi-office giants turn profitable?
Livemint
·
26d ago
Medial
Coworking spaces in India, like Smartworks and Awfis, are experiencing a surge in IPO activity, seeking profitability amidst expansion. Smartworks listed in July 2025, following Awfis’s successful May 2024 IPO, which saw a 60% gain from its issue price. IndiQube plans to list soon, while WeWork India is anticipated to go public in August. These developments highlight the sector’s growing appeal as companies evolve post-pandemic.
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WeWork Inc’s plans fail to work out
Economic Times
·
11m ago
Medial
WeWork's plan to sell its 27% stake in WeWork India and exit the country has fallen through due to a valuation mismatch. The Competition Commission of India had previously approved the proposal, which would have seen WeWork and its partner, the Embassy Group, divest a total of 40% stake to new investors. WeWork India's CEO, Karan Virwani, is now in talks with 360 One to potentially buy some of the stake. This comes after rival coworking firm Awfis had a successful IPO in May, indicating a positive turn for the industry in India.
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How WeWork India, Smartworks and PE-backed Awfis, IndiQube fare against each other
VCCircle
·
6m ago
Medial
India's coworking and flexible office space segment has significantly grown, driven by the rising demand for shared workspaces offering enhanced flexibility and cost efficiency for companies. This growth has enabled several coworking space providers, including WeWork India, Smartworks, and PE-backed firms like Awfis and IndiQube, to consider public market opportunities. The trend reflects a broader shift towards more adaptable and economically advantageous workspace solutions.
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IPO-bound Smartworks Coworking Spaces posts Rs 50 cr loss last fiscal on higher expenses
YourStory
·
1y ago
Medial
Smartworks Coworking Spaces Ltd, a leading provider of managed office space, has reported a net loss of approximately Rs 50 crore for the previous fiscal year due to higher expenses. The company has filed a draft red herring prospectus (DRHP) to raise funds through an initial public offering (IPO). The IPO will include a fresh issue of equity shares worth Rs 550 crore and an offer-for-sale of 67.59 lakh shares by promoters. Smartworks currently operates 41 co-working centers with 7.36 million square feet of office space and plans to expand further.
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CCI approves WeWork Inc's exit from India unit
Economic Times
·
1y ago
Medial
The Competition Commission of India (CCI) has approved WeWork Inc's plan to sell its entire 27% stake in its Indian coworking firm. This deal involves the Enam group family office, A91 Partners, and CaratLane founder Mithun Sacheti investing in WeWork India. WeWork Inc and Embassy Group, WeWork India's parent company, will sell about 40% of the coworking unit. This move marks WeWork Inc's exit from the Indian market. The Indian business of WeWork reported strong revenue growth and narrowed net losses in the past year.
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Smartworks Coworking shares trade at 7% premium following oversubscribed IPO
YourStory
·
1m ago
Medial
Smartworks Coworking Spaces Ltd shares began trading at a 7% premium following its oversubscribed IPO, with substantial interest from institutional and non-institutional investors. The IPO raised Rs 445 crore through new shares and Rs 137.6 crore via an offer for sale. Funds are allocated for capital expenditure, debt repayment, and corporate purposes. The company manages premium office spaces with 48 centers and a seating capacity of over 1.9 lakh, despite posting losses in recent years.
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IPO-Bound Awfis Posts INR 19 Cr Loss In The First Nine Months Of FY24
Inc42
·
1y ago
Medial
Coworking startup Awfis, which is preparing for an INR 599 Cr IPO, experienced a net loss of INR 18.9 Cr in the first three quarters of FY24. However, the company's EBITDA turned profitable in 2021, reaching INR 195.5 Cr during the same period. Awfis' operating revenue surpassed FY23's number of INR 545.3 Cr within the first three quarters of FY24, reaching INR 616.5 Cr. Chairman and MD Amit Ramani highlighted that Tier 2 cities will be a key expansion area for the company in the future. Awfis plans to allocate a significant portion of the IPO proceeds towards establishing new centers.
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IPO gold rush or bubble? India’s co-working firms test the public markets
Livemint
·
16d ago
Medial
India's flex office operators are exploring IPO options amidst a slowdown in venture capital investments. Companies like Afwis, IndiQube, and Smartworks, along with others in the pipeline, are considering going public to tap into new funding sources. WeWork India, one of the largest flex office players, plans its IPO launch by early September. The shift to public markets raises questions about the Indian market's capacity to accommodate multiple flex office IPOs.
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EV ride-hailing company BluSmart raises $24 million in funding
Economic Times
·
1y ago
Medial
Electric vehicle ride-hailing startup BluSmart has secured $24 million in a funding round led by existing investors ResponsAbility Investments, cricketer MS Dhoni's Family Office, and ReNew founder Sumant Sinha. The funding will be used to expand operations and build EV charging infrastructure. BluSmart currently operates 7,500 EVs and aims to turn profitable on an EBITDA basis by March 2026. The company faces competition from Uber, Ola, Rapido, and Namma Yatri in the ride-hailing space. BluSmart previously struggled to raise external capital and received smaller funding instances totaling $66 million in previous years.
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Paytm could be most profitable Indian internet firm: Goldman Sachs
Inshorts
·
1y ago
Medial
Goldman Sachs has raised the target price for Paytm's parent company, One 97 Communications Ltd, stating that the fintech company could be the most profitable among India's internet companies. The brokerage expects Paytm to turn net income positive in FY25, which could act as a catalyst for the stock. Paytm's strong traction, cross-selling efforts, and improved profitability have prompted Goldman Sachs to view the company as one of India's most compelling growth stories. The target price has been raised to Rs 1,250 a share, implying a 34% upside from the previous closing price.
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Paytm among BofA securities’ top picks in Asia pacific for Q1 2024
Inc42
·
1y ago
Medial
Paytm, the parent company of One97 Communications, has been listed among BofA Securities' top 10 short-term recommendations for the Asia Pacific region in the first quarter of 2024. Paytm's focus shift towards high ticket, high margin loans is seen as a positive move. Although the recent scaling down of the buy now, pay later (BNPL) business is expected to have minimal immediate impact, Paytm is predicted to turn profitable this year. Regulatory risks and potential stake sales by pre-IPO holders are noted as key risks.
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