Innov8 acquisition of Vatika expands managed offices
Innov8 Workspaces acquired Vatika Business Centres Private Limited for ₹27 Cr, adding an established managed-office platform to its workspace business. The company entered into a share purchase agreement on June 8, 2026, and the transaction closed on June 18.
Innov8 paid ₹10.2 Cr at closing, with 80% of the consideration payable at closing and the remaining 20% due three months later.
Innov8 ended FY26 with 58 operational centres after adding 16 during the year. It added another 14 centres in the three months following March 31, 2026, taking its network to 72 centres as of July 2026.
The company plans to reach 101 centres during FY27 and expand to 22 cities, with Kochi, Coimbatore, Kolkata and Jaipur among the cities identified for expansion.
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Vatika Acquisition Adds Enterprise Business
Innov8 is a premium flexible workspace operator. It follows a landlord-led capex model in which landlords fund the fit-outs while Innov8 provides the brand, demand generation, design and operations.
The company’s expansion includes managed offices, with a focus on business districts and commercial clusters.
Vatika brings marquee enterprise clients on long-term commitments and provides further room for expansion in the managed-office segment, according to the company. Innov8’s operating revenue rose 76% to ₹201.3 Cr in FY26, while net profit increased nearly 11.8X to ₹13.8 Cr from ₹1.2 Cr in FY25.
“Our ambition has always been to build premium workspaces that combine thoughtful design, vibrant community, enterprise-grade infrastructure and fully managed services, while giving businesses the flexibility to adapt as their needs evolve… A customer can begin with five seats and grow to five hundred without ever leaving the Innov8 network.
Our expansion into managed workspaces, including through the acquisition of Vatika Business Centres Private Limited, completes that ladder,” said Rakesh Kumar, director and CFO, Innov8.
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