iSprout Raises Rs 60 Cr from Tata Capital

New Delhi, Dec 11 (PTI) Real estate company iSprout, which provides managed office spaces, has raised Rs 60 crore debt from Tata Capital to expand its business.

Hyderabad-based iSprout has a presence across nine cities with 25 co-working centres covering 2.5 million sq ft area.

In a statement on Thursday, iSprout said it plans to deploy the capital towards new centres in Indian Tier 1 and Tier 2 cities, along with upgrades to its technology, workspace customisation capabilities, and end-to-end facility management services.

The demand for managed flexible workspace is growing from corporates of all sizes.

Co-working companies take office space on lease from real estate developers to establish their centres. Then, it subleases workspaces to corporates.