# Tablespace Technologies Limited: IPO analysis > Tablespace Technologies Limited (CIN U74999KA2017PLC101040) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 6.55 Cr shares. In FY26 it reported revenue of ₹2,262 Cr (+66.3% on FY25) and a net loss of ₹403 Cr. Promoters hold 61.8% before the IPO. Our fact-check of its claims found 2 medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U74999KA2017PLC101040/tablespace-technologies-limited/ - CIN: U74999KA2017PLC101040 - Last updated: 18 Aug 2026 ## Key facts - **Company:** Tablespace Technologies Limited - **CIN:** U74999KA2017PLC101040 - **Filing stage:** DRHP - **Latest SEBI filing:** 18 Aug 2026 - **Offer for sale:** 6,54,75,432 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹2,262 Cr - **Revenue growth:** +66.3% - **Net profit FY26:** −₹403 Cr - **Revenue CAGR FY24 to FY26:** 58.0% - **Promoter holding (pre-IPO):** 61.8% - **Lead managers:** Axis Capital Limited, BofA Securities India Limited, CLSA India Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, JM Financial Limited - **Registrar:** KFin Technologies Limited - **Fact-check flags:** 1 high, 1 medium, 2 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 58% a year. Sales FY24 to FY26; latest year +66.3%. - **Profitability** (concern): -17.8% net margin. FY26. - **Debt** (concern): Negative net worth. Liabilities exceed assets in the latest year. - **Profit into cash** (looks fine): Cash positive. Net loss of ₹403 crore; operations still brought in ₹1,464 crore. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (concern): 2 to review. 40 claims checked: 1 high, 1 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 906 | 1,360 | 2,262 | | Sales growth | – | 50.1% | 66.3% | | Net profit | 5.3 | -1,554 | -403 | | Net margin | 0.6% | -114.2% | -17.8% | | Net worth | 510 | -430 | -761 | | Borrowings | 1,105 | 2,503 | 3,309 | | Return on equity | 1.0% | – | – | ## Use of proceeds (fresh issue) - Repayment or pre-payment, in full or in part, of certain or all of our borrowings: ₹550 crore - Funding inorganic growth through unidentified acquisitions and general corporate purposes (1)(2): amount not fixed yet ## Fact-checked claims - **HIGH** (LitigationStatus): As of the date of the DRHP, there are no pending actions by regulatory and statutory authorities against the Directors.. The search results indicate that there are past legal actions and regulatory issues involving Tablespace Technologies Private Limited, such as court cases and penalty imposition by the Registrar of Companies. This contradicts the claim that there are no pending actions by regulatory and statutory authorities against the Directors. - **MEDIUM** (LitigationStatus): A suit for damages was filed before the High Court of Delhi against Travel Corporation (India) Limited (TCI), SOTC Travel Limited (SOTC), Thomas Cook India Limited (TCIL), Fairfax Financial Holdings Limited (Fairfax), and its director for recovery of ₹40.00 Crore as damages and ejectment from property.. The search results reference legal proceedings involving SOTC Travel Ltd and other entities, but they do not directly corroborate the specific claim about a suit for damages for ₹40.00 Crore against the listed parties. Some results pertain to preference shares and ratings rationale. - **LOW** (SubsidiaryPerformance): The company incorporated TS Epicurean Ventures Private Limited, its hospitality, food and beverage vertical.. One search result points to a company profile for TS Epicurean Ventures Private Limited, suggesting its existence. However, the other results do not directly corroborate or contradict the claim regarding the incorporation of this specific entity for the hospitality vertical. - **LOW** (SubsidiaryPerformance): The company was incorporated as ‘Tablespace Technologies Private Limited’ as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation on March 3, 2017, issued by the Registrar of Companies, Karnataka at Bengaluru (“RoC”).. The search results confirm that Tablespace Technologies Limited was incorporated around March 2017, with one result mentioning its incorporation in March 2017. However, the search results do not explicitly confirm the exact wording regarding the certificate of incorporation being issued by the RoC in Karnataka on March 3, 2017. - **NONE** (PromoterBackground): The sitting fees/commission for Non-Executive Directors in Financial Year 2026 are detailed, with Siddhartha Gupta and Joseph Raymond Gagnon having Nil sitting fees/commission.. The search results mention various regulatory scrutiny and financial matters involving Tablespace Technologies Private Limited and SEBI, but they do not contain specific details regarding the sitting fees or commissions for Non-Executive Directors like Siddhartha Gupta and Joseph Raymond Gagnon for Financial Year 2026. - **NONE** (PromoterBackground): Mukeeta Pramit Jhaveri has been associated with the Company since July 17, 2026.. The provided search results do not contain any information confirming or denying the association of Mukeeta Pramit Jhaveri with Tablespace Technologies Limited since July 17, 2026. The search results primarily discuss regulatory scrutiny and financial matters related to the company or industry, but not this specific individual's association. - **NONE** (PromoterBackground): Kunal Mehra is one of the founders of the Company and has been associated with the Company since April 1, 2019.. The provided search results do not contain any information confirming or denying the claim that Kunal Mehra is a founder of the company or has been associated with it since April 1, 2019. The search results primarily discuss regulatory scrutiny and financial matters related to Tablespace Technologies. - **NONE** (PromoterBackground): Karan Chopra is one of the founders of the Company and has been associated with the Company since March 3, 2017.. The provided search results do not contain information confirming or denying the claim that Karan Chopra is a founder of Tablespace Technologies Limited or that he has been associated with the company since March 3, 2017. The search results primarily discuss regulatory scrutiny and financial matters related to the company. - **NONE** (SubsidiaryPerformance): The total volume of flexible workspaces in the APAC region is estimated at approximately 154 to 156 Mn. sq. ft. as of June 30, 2025.. The provided search results do not contain any information regarding the total volume of flexible workspaces in the APAC region as estimated in the DRHP claim. Therefore, the search results do not corroborate, contradict, or update the specific data point. - **NONE** (SubsidiaryPerformance): Tokyo stands as one of the premier markets with a total office inventory totalling 298.3 Mn. sq. ft. as of Q1 2026.. The search results do not contain any information regarding the total office inventory in Tokyo as stated in the DRHP claim. The search results focus on IPO details, financial performance, and the company's business model. - **NONE** (SubsidiaryPerformance): Around 5.4 million people will be directly employed in technology-related sectors, with a forecast contribution of 57-58% to the global sourcing market in FY2025, compared to a 55% share in FY2019.. The search results do not contain information directly corroborating or contradicting the specific claim about the number of directly employed people or the percentage contribution to the global sourcing market share in FY2025 versus FY2019. They primarily discuss the IPO process, revenue figures, and company details. - **NONE** (SubsidiaryPerformance): India remained one of the fastest-growing major economies in the APAC region, exhibiting a GDP growth of 7.6% in FY2026.. The search results do not contain any direct information regarding India's GDP growth rate for FY2026 or any specific claim about it. The results focus on the IPO process, financial performance, and company details. ## Common questions ### How big is the Tablespace Technologies Limited IPO? Tablespace Technologies Limited's IPO comprises an offer for sale of 6.55 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Tablespace Technologies Limited's revenue and profit? Tablespace Technologies Limited reported revenue from operations of ₹2,262 Cr in FY26, +66.3% versus FY25. Net loss was ₹403 Cr (FY25: loss of ₹1,554 Cr). Revenue grew at a compound rate of 58.0% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Tablespace Technologies Limited? Promoters hold 61.8% of Tablespace Technologies Limited before the IPO. ### How will Tablespace Technologies Limited use the IPO money? The fresh-issue proceeds are earmarked for: Repayment or pre-payment, in full or in part, of certain or all of our borrowings (₹550 Cr); Funding inorganic growth through unidentified acquisitions and general corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Tablespace Technologies Limited's DRHP? We fact-checked 40 claims from the filing against the open web: 1 raised a high concern, 1 medium and 2 low. The most notable: The search results indicate that there are past legal actions and regulatory issues involving Tablespace Technologies Private Limited, such as court cases and… The search results reference legal proceedings involving SOTC Travel Ltd and other entities, but they do not directly corroborate the specific claim about a… This is an automated screen, not a verdict; each finding links to its sources. ### What does Tablespace Technologies Limited do? Here’s what almost nobody notices: despite the hype around the IPO, there are actual, documented legal actions and penalties against the directors of Tablespace Technologies. That’s a major red flag when you look at the regulatory clearance for this listing. ### Who manages the Tablespace Technologies Limited IPO? Book running lead managers: Axis Capital Limited, BofA Securities India Limited, CLSA India Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, JM Financial Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Tablespace Technologies Limited IPO documents? All 2 filings for Tablespace Technologies Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [TABLESPACE TECHNOLOGIES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/aug-2026/TABLESPACE%20TECHNOLOGIES%20LIMITED%20-%20DAP_p.pdf) (Abridged prospectus (DAP), filed 18 Aug 2026) - [TABLESPACE TECHNOLOGIES LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1787037217420.pdf) (Draft Red Herring Prospectus, filed 18 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.