Executive Centre Is Said to Seek $300 Million for India IPO

The Executive Centre is planning an initial public offering in Mumbai that may raise 26 billion rupees ($303 million), according to people familiar with the matter, to capitalize on the rising demand for workspace in the country.

The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing, according to the people, who asked not to be named because the information is private. The company is planning to file preliminary documentation — known as the draft red herring prospectus — soon, according to the people.