Bengaluru-headquartered managed workspace solutions provider Tablespace Technologies is moving closer to going public after filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). According to the DRHP, the proposed IPO comprises a fresh issue of equity shares aggregating up to ₹800 crore and an offer for sale (OFS) of up to 65,475,432 equity shares with a face value of ₹1 each.

The OFS includes up to 49,834,140 equity shares to be sold by investor-promoter selling shareholder AGS TS II Holdings Pte. , which is ultimately owned and controlled by funds of Hillhouse Investment.

Karan Chopra and Kunal Mehra, the individual promoter selling shareholders, will offer up to 1,311,430 shares and 10,074,740 shares, respectively. Tablespace Technologies’ promoters are Karan Chopra, Kunal Mehra, Sarita Banerji, KAM Advisors Private Limited and AGS TS II Holdings Pte.

Ltd. The remaining OFS comprises up to 1,967,140 equity shares to be sold by Srinivas Prasad, up to 723,910 equity shares by Narendra Kumar Kamaraju, up to 840,162 equity shares by RSP Real Estate LLP and up to 723,910 equity shares by Ramachandra Venkatasubba Rao.

KFin Technologies is the registrar to the issue. Axis Capital, BofA Securities India, CLSA India, IIFL Capital Services, and JM Financial are the book running lead managers to the issue..

“Each of the Selling Shareholders shall be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting its proportion of the Offer-related expenses and the relevant taxes thereon, as applicable. Tablespace Technologies plans to use the proceeds from the fresh issue towards the repayment or pre-payment, in full or in part, of certain or all of its borrowings.

The company also plans to use the proceeds to fund inorganic growth through unidentified acquisitions and for general corporate purposes. About Tablespace TechnologiesTablespace Technologies provides bespoke, enterprise-grade managed workspace solutions for global capability centres (GCCs), Fortune 500 companies and multinational corporations.

The company operates an integrated “single-cheque” model spanning leasing, design, fit-out, operations, facilities management and compliance across the workspace lifecycle. 42% growth over the previous year.

36% year-on-year. 71 crore.