Workmates Core2Cloud IPO
Workmates Core2Cloud IPO
Overview
Workmates Core2Cloud IPO is a book build issue of 0.34 crore shares. The issue is a combination of fresh issue of 0.29 crore shares and offer for sale of 0.05 crore shares. Workmates Core2Cloud IPO opens for subscription on Nov 11, 2025 and closes on Nov 13, 2025. The allotment for the Workmates Core2Cloud IPO is expected to be finalized on Nov 14, 2025. Workmates Core2Cloud IPO will list on BSE SME with a tentative listing date fixed as Nov 18, 2025. Workmates Core2Cloud IPO price band is set at [.] to [.] per share . Horizon Financial Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Total Shares
34,23,600
Issue Size
-
Price Band
₹0 – ₹0
Lot Size
0 shares
Min. Investment
₹0
Max. Investment
₹0
Open Date
11 Nov, 2025
Close Date
13 Nov, 2025
Allotment
14 Nov, 2025
Listing
18 Nov, 2025
Max. Investment
₹0
Announced
11 Nov, 2025
Opening Date
11 Nov, 2025
Closing Date
13 Nov, 2025
Basis of Allotment
14 Nov, 2025
Initiation of Refunds
17 Nov, 2025
Credit of Shares
17 Nov, 2025
Listing Date
18 Nov, 2025
Live GMP
Est. Listing: ₹51
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About Workmates Core2Cloud IPO
Workmates Core2Cloud Solution Limited, based in Kolkata, is an AWS Premier Consulting Partner known for scalable and innovative cloud solutions across India. Founded in 2018, the company has rapidly expanded, completing over 350 projects for more than 200 clients across various industries, including finance, healthcare, retail, e-commerce, and media.
Workmates Core2Cloud specialises in a comprehensive range of cloud services:
- Cloud Migration & Managed Services: Seamless t
Workmates Core2Cloud IPO Share Price
Issue Breakdown
Shareholding
Dilution: 29.1% increase in shares
Workmates Core2Cloud IPO Promoters Holding
Workmates Core2Cloud IPO Financial Health
Workmates Core2Cloud Solution Ltd.'s revenue increased by 102% and profit after tax (PAT) rose by 160% between the financial year ending with March 31, 2025 and March 31, 2024.
Workmates Core2Cloud IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| - | - | - | - |
(All values in CR)
Workmates Core2Cloud IPO Valuations
| Metric | Value |
|---|---|
| ROE | 67.44 |
| ROCE | 64.61 |
| Debt/Equity | 0.38 |
| RoNW | 60.85 |
| PAT Margin | 12.85 |
| EBITDA Margin | 17.58 |
(All values in CR)
Workmates Core2Cloud IPO Strength & Risk
Workmates Core2Cloud IPO Strength:
- Operates in a fast-growing cloud and IT services market with focus on digital transformation, cloud migration, and managed services.
- Recognized as an AWS Premier Tier Services Partner, adding credibility and technical depth to its offerings.
- Business model is asset-light and scalable, allowing for potential margin expansion as operations grow.
- Demonstrates strong revenue and profit growth in recent years, supported by rising demand for cloud solutions.
- Utilization of IPO proceeds includes repayment of debt, working capital needs, and general corporate purposes, which may strengthen the financial position.
- Focused service portfolio in modern technologies such as cloud, automation, and AI-driven solutions gives it a niche advantage.
Workmates Core2Cloud IPO Risk:
- Operates at a relatively small scale compared to established IT service companies, which increases business vulnerability.
- Faces intense competition from large domestic and global IT service providers offering similar solutions.
- Heavy reliance on AWS partnership could pose risk if partnership terms or technology trends shift.
- Rapid technological changes require continuous innovation and reinvestment to stay competitive.
- SME IPO segment typically involves limited liquidity and higher market volatility after listing.
Workmates Core2Cloud IPO Subscriptions Status
Workmates Core2Cloud IPO subscribed 8.40 times. The public issue subscribed 10.19 times in the individual investors category, 1.48 times in QIB (Ex Anchor), and 13.58 times in the NII category by November 12, 2025 5:04:39 PM (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 9,60,000 | 9,60,000 | 19.584 |
| Market Maker | 1.00 | 1,71,600 | 1,71,600 | 3.501 |
| QIB (Ex Anchor) | 1.48 | 6,62,400 | 9,77,400 | 19.939 |
| Non-Institutional Buyers | 13.58 | 4,89,600 | 66,49,800 | 135.656 |
| bNII (bids above ₹10L) | 15.01 | 3,26,400 | 49,00,200 | 99.964 |
| sNII (bids below ₹10L) | 10.72 | 1,63,200 | 17,49,600 | 35.692 |
| Individual Investors (IND category bidding for 2 Lots) | 10.19 | 11,40,000 | 1,16,20,800 | 237.064 |
| Total | 8.40 | 22,92,000 | 1,92,48,000 | 392.659 |
Workmates Core2Cloud IPO GMP
Workmates Core2Cloud SME IPO last GMP is ₹51, last updated Nov 12th 2025 05:32 PM. With the price band of 204.00, Workmates Core2Cloud SME IPO's estimated listing price is ₹255 (cap price + today's GMP).The expected percentage gain/loss per share is 25.00%. >> Workmates Core2Cloud SME IPO Retail Subject to Sauda: ₹23300 The lowest GMP is ₹0.00, while the highest GMP is ₹51.00.
Last updated 12 Nov, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 12 Nov, 2025 | 204 | ₹51▲ | 23300 | ₹255 (25.00%) | 30600 | 12 Nov, 2025 |
| 11 Nov, 2025 | 204 | ₹36▲ | 16400 | ₹240 (17.65%) | 21600 | 11 Nov, 2025 |
| 10 Nov, 2025 | 204 | ₹28▲ | 12800 | ₹232 (13.73%) | 16800 | 10 Nov, 2025 |
| 09 Nov, 2025 | 204 | ₹25 | 11400 | ₹229 (12.25%) | 15000 | 09 Nov, 2025 |
| 08 Nov, 2025 | 204 | ₹25▲ | 11400 | ₹229 (12.25%) | 15000 | 08 Nov, 2025 |
| 07 Nov, 2025 | 204 | ₹20▲ | 9100 | ₹224 (9.80%) | 12000 | 07 Nov, 2025 |
| 06 Nov, 2025 | 204 | ₹0 | - | ₹204 (0.00%) | - | 06 Nov, 2025 |
| 05 Nov, 2025 | 0 | ₹0 | - | ₹ (%) | - | 05 Nov, 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.
How to Apply for Workmates Core2Cloud IPO
Login to Your Trading App
Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find Workmates Core2Cloud IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.