Innov8 Workspaces India Unlisted Shares
Innov8 Workspaces India runs premium co-working and flexible office centres in Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Pune and Chennai. It operated 58 centres at the end of FY26 and reported revenue from operations of ₹201.31 crore.
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Key facts
Innov8 Workspaces India share details
- Lot size
- 1,000 shares
- Min. investment
- ₹56,000
- Face value
- ₹1
- Implied market cap
- ₹1,424 Cr
- Shares outstanding
- 254,343,610
- Founded
- 2015
- Headquarters
- Gurugram, Haryana
- Website
- innov8.work
- ISIN
- INE1DBW01022
- CIN
- U70100DL2019PLC351211
- Lock-in after IPO
- 6 months
Price history
Innov8 Workspaces India share price chart
1Y change
+0.00%
High
₹58.00
Low
₹56.00
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About Innov8 Workspaces India
Innov8 Workspaces India Limited is a premium co-working and flexible workspace operator. It rents out seats, private offices and fully managed offices to companies, from teams of five seats to larger firms. The company was formerly known as OYO Workspaces India Private Limited. Its annual report says Innov8 was founded in 2015 by Ritesh Malik and became part of the OYO group, now called PRISM, in 2019.
It focuses on central business districts and busy commercial clusters in Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Pune and Chennai, with locations such as DLF Cyberpark, Connaught Place, Aerocity and BKC. It operated 58 centres at the end of FY26, up from 42 a year earlier, and 72 centres about three months after the year-end. Management targets 101 centres during FY27. Landlords mostly pay for the fit-out of each centre, so Innov8 describes its model as capital-light.
The numbers below are from the company's audited FY26 standalone statements, in ₹ million as printed. Revenue from operations was 2,013.10 million, about ₹201.31 crore, against 1,144.55 million in FY25. Profit for the year was 137.45 million against 11.64 million. The profit includes other income of 388.95 million. Net worth stood at 754.49 million and total assets at 6,649.75 million, most of it right-of-use assets for leased buildings.
OYO Hotels and Homes Private Limited held 85.72% of the shares as on 31 March 2026, and Oravel Stays Limited is the ultimate holding company. The company has 254,343,610 equity shares of face value ₹1 each. At the latest indicative price of ₹56, that works out to an implied market cap of about ₹1,424.32 crore.
Innov8 is a public unlisted company and has no IPO journey on IPO Guru yet. Unlisted shares of a company like this trade off-market through dealers. Prices are indicative, liquidity can be thin, and there is no exchange price to check against.
Strengths
- Revenue from operations grew from 1,144.55 million in FY25 to 2,013.10 million in FY26, about 76% growth, as the centre count rose from 42 to 58.
- The company moved from a profit of 11.64 million in FY25 to 137.45 million in FY26 after lease costs, and earnings per share were ₹0.54.
- Net cash from operating activities was 1,171.97 million in FY26, against an outflow of 650.24 million in FY25.
- Landlords largely fund centre fit-outs, so each new centre needs less of the company's own capital. The annual report says 14 more centres opened in the three months after March 2026.
- It operates in premium business districts across six cities and is backed by the PRISM (formerly OYO) group, which holds 85.72% through OYO Hotels and Homes Private Limited.
- Net worth improved from 615.18 million to 754.49 million between FY25 and FY26.
Risks
- Other income of 388.95 million was large compared with the profit before tax of 139.83 million in FY26, so profit depends heavily on non-operating items.
- Lease liabilities were 3,409.57 million non-current plus 822.75 million current at March 2026, a heavy fixed obligation if occupancy falls.
- The current ratio was 0.57 in FY26, down from 0.68, meaning current liabilities exceed current assets.
- Borrowings of 321.69 million carry effective interest rates of 20.10% to 33.35%, which is expensive debt.
- Retained earnings were still negative at (760.18) million, a legacy of earlier losses. The company reported a loss before tax of 31.58 million in FY25.
- The company relies on its holding group. OYO Hotels and Homes holds 85.72%, and related-party dealings with the group, such as rental income and cross-functional charges, appear in the annual report.
- Expansion is fast. Plans to reach 101 centres in FY27 add ramp-up costs, and new centres may take time to fill.
- Operating cash flow in FY25 was negative 650.24 million, so cash generation has not been steady across years.
- Shares are unlisted, so prices are indicative, trading volumes are thin and there is no exchange-set price.
Financials
Innov8 Workspaces India financial performance
Revenue, profit and balance-sheet figures by fiscal year.
Revenue & PAT (₹ Cr)
Revenue
PAT
| Metric | FY26Latest | FY25 |
|---|---|---|
| Revenue (₹ Cr) | 201 | 114 |
| PAT (₹ Cr) | 13.75 | 1.16 |
| PAT Margin (%) | 6.83 | 1.01 |
| RoNW (%) | 18.22 | 1.89 |
| EPS (₹) | 0.54 | 0.06 |
| Debt / Equity | 0.43 | 0.61 |
| Total Assets (₹ Cr) | 665 | 644 |
| Net Worth (₹ Cr) | 75.45 | 61.52 |
Swipe the table sideways for earlier years →
Leadership
Management team
Rakesh Kumar
Director and Chief Financial Officer
Director and CFO as listed in the FY26 annual report.
Anshuman Singh
Director
Member of the board as on 31 March 2026.
Pankhuri Sakhuja
Whole-Time Director
Whole-Time Director on the board as on 31 March 2026.
Sonia Gupta
Independent Director
Non-Executive Independent Director.
Deepa Malik
Independent Director
Non-Executive Independent Director.
Nitesh Kumar Yadav
Company Secretary
Key managerial personnel as Company Secretary.
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Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
