IPO-Bound Table Space, Hillhouse Buy Majority Stake in Philippines’ KMC Solutions To Expand Biz

New Delhi: Real estate firm Table Space, along with Hillhouse, has acquired a majority stake in Philippines-based KMC Solutions as part of its strategy to expand its managed office space business.

In a statement on Friday, Bengaluru-based Table Space said the company and Hillhouse firm Rava Partners have acquired a majority stake in KMC Solutions, which focuses on managed workspace and HR solutions.

The company did not disclose the quantum of stake acquired and also the deal value.

Established in 2017, Table Space is one of the leading managed workspace providers in the country.

Table Space said this deal would help create one of the largest players in the APAC managed office sector, with 13 million square feet of space under management.

Karan Chopra and Kunal Mehra, Co-CEOs of Table Space, said: “India is a key factor in how global enterprises build and scale capability, and continues to be the core of Table Space’s growth strategy. At the same time, our customers are increasingly operating across multiple markets, creating an opportunity to extend the platform we have built in India to other strategically relevant geographies.” KMC has built an enterprise workspace and business services platform in the Philippines market.

“Together, we see an opportunity to support global customers across India and the Philippines while advancing Table Space’s broader international growth strategy,” they said.

As part of the transaction, KMC’s founders will retain a significant interest in the business, and KMC will continue to operate under its existing management team and brand.

Michael McCullough, Co-Founder and Chairman of KMC, said, “The partnership gives us access to growth capital, industry ecosystem, and operational expertise to continue as one of the dominant managed workspace providers in the Philippines and to grow our footprint regionally.” In August, Tablespace Technologies Ltd filed draft papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of Rs 800 crore.

Along with this, there will be an OFS of up to 6.55 crore equity shares.

As of March 31, 2026, Table Space had 11.46 million square feet of leasable area across 33 key office clusters in eight Tier-1 Indian cities.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)