Co-working space provider BHIVE plans to go public through an initial public offering (IPO) by 2025, aiming to raise approximately Rs 500 crore. The company's goal is to achieve a revenue of Rs 600 crore within the next three years.
BHIVE intends to increase its seat capacity by 40% annually over the next three years and launch small and medium real estate investment trusts (SMReits). The company's commercial real estate arm, BHIVE Properties, is launching a hard commercial real estate project in Bengaluru and plans to expand to other cities.
BHIVE Properties aims to generate Rs 500 crore in revenue within the next two years. The company is also exploring strategic partnerships in the Middle East to facilitate mutual investments between India and the region.
BHIVE has secured office space in Mumbai and Pune, and currently operates 26 offices nationwide with a total area of 1.8 million square feet. The company is profitable and expects to reach Rs 200 crore in revenue, including profit after tax, by the end of FY24.
In December 2023, BHIVE acquired Praemineo, a product-engineering firm, to enhance its co-working and fintech ventures. The company is currently not considering any further acquisitions but may explore opportunities in the food and beverage sector or expand its capabilities with additional capital.
BHIVE's strategy includes investing in large-scale properties with a ticket size of Rs 10 to Rs 25 crore.