IPO-bound Bengaluru-based co-working space provider Bhive plans to raise nearly ₹100 crore in equity funding and an additional ₹150 crore in debt to strengthen its balance sheet and restructure liabilities, according to its Co-founder Arun Narayan.

The workspace player expects to complete this process in the next maybe four to five months, as any investment requires due diligence and other formalities, Narayan said. “This should then set us on course for our IPO, which we aim to file in approximately the second half of 2026.”

A significant portion of the ₹100 crore equity raise will be used to pay off existing debt. Meanwhile, the entire ₹150 crore in debt funding will be utilised for restructuring liabilities, he explained.

Expansion plans & market focus

In 2024, Bhive expanded to Mumbai, and acheived 70 per cent occupancy. “We are clearly focused on co-working and managed offices. Cities like Pune, Mumbai, and Chennai offer a much larger market, so we will be prioritising these locations before expanding into Hyderabad or NCR,” he added.

Over the next one to four years, Bhive plans to establish three to four locations in Pune, add a couple more centres in Mumbai, and enter Chennai with at least two centres. Each of these spaces is expected to cover 1-1.5 lakh sq ft.

Additionally, Bhive projects to achieve an EBITDA of ₹80-85 crore in FY27, up from an estimated ₹40-45 crore in FY26. “We expect to double our EBITDA in a year as our operations stabilise,” Narayan noted.