New Delhi, September 2026 — Table Space Technologies is racing toward an ₹800 crore initial public offering (IPO), but behind the scenes, a bitter family feud over a 22.14% equity stake threatens to blow the market debut apart.
What was supposed to be a milestone for the Hillhouse Investment-backed managed workspace provider has instead devolved into a high-stakes legal and corporate battle.
A Disputed Legacy
The crisis began 19 months ago following the sudden death of Table Space founder Amit Banerjee. Shortly after his passing, an unregistered will surfaced, dictating that his entire estate be split equally between his mother, Sarita, and his minor daughter.
The document completely excluded Banerjee’s wife, Shruthi. Furthermore, it named Sarita as the sole custodian of the minor’s shares until the daughter turns 25. Shruthi quickly challenged the document. With the court noting that an unregistered will offers no immediate legal inference, a massive chunk of the company’s equity is now trapped in legal limbo.
The “Promoter” Without Shares
As the company filed its Draft Red Herring Prospectus (DRHP) in August, the conflict escalated to the market regulator. On August 29, Shruthi filed an official complaint with SEBI, pointing out glaring inconsistencies in the board’s disclosures:
- The Mother-in-Law: The board classified Sarita as a “promoter” in the DRHP, despite the fact that she holds zero equity shares and plays no operational role in the business.
- The Excluded Family: Shruthi and her daughter were entirely left out of the promoter group disclosures and were not even listed as relatives of Sarita.
- The Insider Connection: Adding fuel to the fire, Table Space Chairman Karan Chopra is married to Sarita’s daughter, raising questions about internal family dynamics influencing board decisions.
A ₹800 Crore Gamble for Shareholders
For investors eyeing the upcoming IPO, this internal war represents a significant red flag. With 22% of the company’s shares gridlocked in court, the balance of power is highly fragile.
If Shruthi wins her legal battle, a massive 15% chunk of the voting power will suddenly be handed over to someone actively fighting the company’s current leadership. This scenario promises severe boardroom instability—a risk that does not augur well for a newly listed entity trying to build market trust.
Bottom Line
Table Space Technologies is pitching a lucrative commercial real estate growth story to the public, but its foundation is currently fractured by a fierce succession war. Until the fate of the contested 22% stake is resolved, prospective investors aren’t just buying into a workspace provider—they are buying into a volatile family dispute.
