Smartworks Coworking Spaces IPO
Smartworks Coworking Spaces IPO
Overview
Smartworks Coworking Spaces, a top managed workspace provider in India, has launched a ₹582.56 crore IPO—a mix of fresh issuance and promoter stake sale—to fuel expansion and repay debt. The IPO offers 1.09 crore new shares to raise ₹445 crore alongside an Offer-for-Sale of 0.34 crore shares worth ₹137.56 crore. Shares are priced between ₹387–407, with the public subscription window open from July 10 to July 14, 2025. Allotment is expected on July 15, followed by listing on BSE and NSE on July 17. Proceeds will primarily be used for fit-outs and security deposits at new centers (₹226 crore), loan repayment (₹114 crore), and other corporate needs. Employees have a reserved quota of roughly 1.01 lakh shares at a ₹37 discount. The issue is led by JM Financial as book-running lead manager, with MUFG Intime (Link Intime) as registrar.
Total Shares
1,43,13,400
Issue Size
₹582.56 Cr
Price Band
₹387 – ₹407
Lot Size
36 shares
Min. Investment
₹14,652
Max. Investment
₹1,90,476
Open Date
10 Jul, 2025
Close Date
14 Jul, 2025
Allotment
15 Jul, 2025
Listing
17 Jul, 2025
Max. Investment
₹1,90,476
Announced
10 Jul, 2025
Opening Date
10 Jul, 2025
Closing Date
14 Jul, 2025
Basis of Allotment
15 Jul, 2025
Initiation of Refunds
16 Jul, 2025
Credit of Shares
16 Jul, 2025
Listing Date
17 Jul, 2025
Live GMP
Est. Listing: ₹427
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About Smartworks Coworking Spaces IPO
Incorporated in 2015, Smartworks Coworking Spaces Limited is engaged in the business of customized managed workspace solutions, offering fully serviced, tech-enabled office environments with aesthetic designs and essential amenities to meet the specific needs of enterprises and their employees.
The company serves mid-to-large enterprises, including Indian corporates, MNCs, and startups, offering modern campuses with design, technology, and amenities like cafeterias, gyms, crèches,
Smartworks Coworking Spaces IPO Share Price
Issue Breakdown
Shareholding
Dilution: 10.6% increase in shares
Smartworks Coworking Spaces IPO Promoters Holding
Smartworks Coworking Spaces IPO Financial Health
Smartworks Coworking Spaces Limited's revenue increased by 27% and profit after tax (PAT) dropped by 26% between the financial year ending with March 31, 2025 and March 31, 2024.
Smartworks Coworking Spaces IPO Lot Size
Investors can bid for a minimum of 36 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,652 |
| Retail (Max) | 13 | 468 | ₹1,90,476 |
| S-HNI (Min) | 14 | 504 | ₹2,05,128 |
| S-HNI (Max) | 68 | 2448 | ₹9,96,336 |
| B-HNI (Min) | 69 | 2484 | ₹10,10,988 |
(All values in CR)
Smartworks Coworking Spaces IPO Valuations
The market capitalization of Smartworks Coworking IPO is ₹4644.82 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROCE | 42.30 |
| Debt/Equity | 2.90 |
| RoNW | -58.76 |
| EBITDA Margin | 62.39 |
| Price to Book Value | 38.58 |
(All values in CR)
Smartworks Coworking Spaces IPO Strength & Risk
Smartworks Coworking Space IPO Strength:
- Their market leadership backed by scale and steady growth
- Their ability to lease and transform entire/ large properties across India’s key clusters into amenities rich ‘Smartworks’ branded Campuses.
- Their focus is on acquiring Enterprise Clients with higher Seat requirements as well as emerging mid-to-large Enterprises and growing with them.
- Their execution capabilities are backed by cost efficiencies, effective processes, and technology infrastructure.
- Their financial acumen and strategic execution abilities make us capital efficient, resulting in saving our equity on capital expenditure and working capital.
- Their risk-mitigating strategy allows us to build a financially stable business model.
Smartworks Coworking Space IPO Risk:
Net loss of ₹49.95 cr in FY24 (vs ₹101 cr loss in FY23); still unprofitable at PAT level.
High borrowings (~₹427 cr as of Mar‑24); risk from real‑estate finance and potential interest escalation.
Heavy geographic concentration: 80%+ revenue from 4 cities (Pune, Bengaluru, Hyderabad, Mumbai).
Dependency on securing large leased properties; delays or unfavourable lease terms could stall expansion.
Vulnerable to market downturn or competition; over 440 players in sector and macroeconomic shifts may impact demand.
Smartworks Coworking Spaces IPO Subscriptions Status
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 42,66,378 | 42,66,378 | 173.642 |
| Qualified Institutions | 0.64 | 28,44,254 | 18,33,012 | 74.604 |
| Non-Institutional Buyers | 1.86 | 21,33,190 | 39,75,948 | 161.821 |
| bNII (bids above ₹10L) | 2.02 | 14,22,126 | 28,71,252 | 116.86 |
| sNII (bids below ₹10L) | 1.55 | 7,11,063 | 11,04,696 | 44.961 |
| Retail | 1.23 | 49,77,442 | 61,34,580 | 249.677 |
| Employees | 1.07 | 1,01,351 | 1,08,648 | 4.422 |
| Total | 1.20 | 1,00,56,237 | 1,20,52,188 | 490.524 |
Smartworks Coworking Spaces IPO GMP
Smartworks Coworking IPO last GMP is ₹20, last updated Jul 12th 2025 05:55 PM. With the price band of 407.00, Smartworks Coworking IPO's estimated listing price is ₹427 (cap price + today's GMP).The expected percentage gain/loss per share is 4.91%. >> Smartworks Coworking IPO Retail Subject to Sauda: ₹500 >> Smartworks Coworking IPO Small HNI Subject to Sauda: ₹7000 The lowest GMP is ₹0.00, while the highest GMP is ₹32.00.
Last updated 12 Jul, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 12 Jul, 2025 | 407 | ₹20▲ | 500/7000 | ₹427 (4.91%) | 720 | 12 Jul, 2025 |
| 11 Jul, 2025 | 407 | ₹18▼ | 500/7000 | ₹425 (4.42%) | 648 | 11 Jul, 2025 |
| 10 Jul, 2025 | 407 | ₹30▼ | 800/11200 | ₹437 (7.37%) | 1080 | 10 Jul, 2025 |
| 09 Jul, 2025 | 407 | ₹32▲ | 900/12600 | ₹439 (7.86%) | 1152 | 09 Jul, 2025 |
| 08 Jul, 2025 | 407 | ₹28▲ | 800/11200 | ₹435 (6.88%) | 1008 | 08 Jul, 2025 |
| 07 Jul, 2025 | 407 | ₹0 | - | ₹407 (0.00%) | - | 07 Jul, 2025 |
| 06 Jul, 2025 | 0 | ₹0 | - | ₹ (0.00%) | - | 06 Jul, 2025 |
| 05 Jun, 2025 | 0 | ₹0 | - | ₹ (%) | - | 05 Jun, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
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