Co-working space provider Urban Vault plans IPO in the next 3 years

Co-working space provider Urban Vault is planning an initial public offering (IPO) in the next three years.

 

“We are looking to file an IPO by 2028 once we cross Rs 500 crore (in revenue). Many companies are increasingly adopting flexible workspace solutions to adapt to new working models. Urban Vault aims to support this shift, especially as multinational corporations set up operations in India,” said Amal Mishra, CEO, Urban Vault.

 

The company expects to reach the Rs 150-crore revenue mark by FY25, growing at 80-85 per cent year-on-year.

 

The shared workspace provider also plans to expand its operations into two new markets—Gurugram and Pune. “We have made significant progress in Bengaluru and plan to expand our presence by securing more office space in key areas like the CBD and Whitefield. Following our success here, we are eager to extend our services to Gurugram and Pune, where demand for quality office spaces is also rising. We hope to positively contribute to these markets as well,” added Mishra.

 

Moreover, Mishra noted that Urban Vault is working on taking ownership of certain properties. He further noted that rentals for desks have seen a growth of about 9 to 10 per cent annually. Currently, per desk rentals range between Rs 7,000 and Rs 15,000, with about 300 companies across its properties.

 

“Given the growing demand for flex-office spaces, it's clear that flex spaces will play a major role in the Grade A office leasing market in the coming years. Their financial viability and adaptability make them highly attractive to corporates seeking cost-effective, flexible solutions,” Mishra said.

 

Last month, the company leased a total of 1.2 lakh square feet of office space across three prime locations in Bengaluru’s CBD—HM Square on Residency Road, Prestige Obelisk on Kasturba Road, and Pardhanani Wilshiren on MG Road.