Realty firm Salarpuria Sattva's co-promoted Simpliwork Offices plans to raise $50-60 million as equity to expand business in India and enter into overseas markets, like Singapore, as it sees the demand for managed flexible office space rising amid the COVID-19 pandemic.
Salarpuria Sattva, one of the leading real estate firms in the country with a large presence in the office market, has a 50 percent stake in Bengaluru-based Simpliwork Offices.
Kunal Walia, the founder and CEO of Simpliwork, holds the remaining stake.
In an interview with PTI, Walia said the company achieved a robust growth during the 2020-21 fiscal year in terms of revenue and also area expansion despite the pandemic.
