Strategic Growth: Hanto Workspace Targets IPO by 2028

Introduction

India's co-working space sector is undergoing a disruptive phase, with new-age companies redefining workplace solutions. Among the new-age entrants, Hanto Workspace has emerged as a serious contender with expansionary plans. As per a recent report by The Economic Times, this Bengaluru headquartered managed commercial real estate solutions firm has formally proposed strategic plans for an Initial Public Offering (IPO) by 2028, accompanied by aggressive expansion in India's key business markets.

Company Performance and Market Position

Founded in 2019, Hanto Workspace has demonstrated remarkable growth in India’s flexible office space market, achieving a 90% occupancy rate across its coworking and managed office properties—including newly launched locations in key urban centers. This strong performance reflects growing demand for premium workspace solutions and Hanto’s commitment to efficient service delivery, even amidst ongoing challenges in the commercial real estate sector.

Backed by solid financials, Hanto Workspace raised ₹15 crore in seed funding in November 2023 through a strategic mix of equity and debt financing. The funding round was led by Anurag Jain, founder of KredX, along with prominent angel investors who identified Hanto as a key player in India’s evolving coworking and enterprise workspace segment.

Expansion Strategy and Growth Plans

Hanto's expansion strategy is comprehensive and strategically planned. The company recently launched over 1 lakh square feet of workspace across Bangalore and secured an additional 3 lakh square feet lease spanning Bengaluru, Hyderabad, and Pune. This rapid scaling demonstrates confidence in India's flexible workspace sector growth.

Financial projections are equally ambitious, with Hanto targeting revenue exceeding Rs 700 crore by 2028, aligning with their IPO timeline. This represents significant scaling from current operations and reflects management's belief in the sector's long-term potential.

To support this growth, Hanto has strengthened its leadership team with strategic appointments including Yogesh Bheemaiah as Chief Business Officer and Jignesh Chheda as Head of Projects, building organizational capabilities for large-scale, multi-city operations.

Conclusion

As highlighted in The Economic Times report, Hanto Workspace's journey from a 2019 startup to a company planning public listing by 2028 exemplifies entrepreneurial dynamism in India's new economy. With strong occupancy rates, robust funding, and clear expansion plans, Hanto is well-positioned to capitalize on India's evolving workspace needs.

The success of Hanto's IPO aspirations depends on executing expansion strategy while maintaining high service standards that earned exceptional occupancy rates. As the company continues this trajectory, it represents a compelling case study in how innovative workspace solutions create substantial value in India's transforming commercial real estate landscape.