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Smartworks Coworking Spaces IPO is a book build issue of ₹582.56 crores. The issue is a combination of fresh issue of 1.09 crore shares aggregating to ₹445.08 crores and offer for sale of 0.34 crore shares aggregating to ₹137.48 crores.
Smartworks Coworking Spaces IPO bidding started from Jul 10, 2025 and ended on Jul 14, 2025. The allotment for Smartworks Coworking Spaces IPO was finalized on Jul 15, 2025. The shares got listed on BSE, NSE on Jul 17, 2025.
Smartworks Coworking Spaces IPO price band is set at ₹407.00 per share . The lot size for an application is 36. The minimum amount of investment required by an retail is ₹14,652 (36 shares) (based on upper price). The lot size investment for sNII is 14 lots (504 shares), amounting to ₹2,05,128, and for bNII, it is 69 lots (2,484 shares), amounting to ₹10,10,988.
The issue includes a reservation of up to 1,01,351 shares for employees offered at a discount of ₹37.00 to the issue price.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Smartworks Coworking Spaces IPO RHP for detailed Information.
| IPO Date | July 10, 2025 to July 14, 2025 |
| Listing Date | July 17, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹387 to ₹407 per share |
| Issue Price Final | ₹407 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,43,21,474 shares (aggregating up to ₹582.56 Cr) |
| Fresh Issue | 1,09,41,734 shares (aggregating up to ₹445.08 Cr) |
| Offer for Sale | 33,79,740 shares of ₹10 (aggregating up to ₹137.48 Cr) |
| Employee Discount | ₹37.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 10,31,89,592 shares |
| Share Holding Post Issue | 11,41,31,326 shares |
Smartworks Coworking Spaces IPO offers total 1,43,22,614 shares. Out of which 71,10,630 (49.65%) allocated to QIB, 28,44,252 (19.86%) allocated to QIB (Ex- Anchor), 21,33,190 (14.89%) allocated to NII, 49,77,443 (34.75%) allocated to RII and 42,66,378 (29.79%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 71,10,630 (49.65%) | NA |
| − Anchor Investor Shares Offered | 42,66,378 (29.79%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 28,44,252 (19.86%) | NA |
| NII (HNI) Shares Offered | 21,33,190 (14.89%) | NA |
| − bNII > ₹10L | 14,22,127 (9.93%) | 2,821 |
| − sNII < ₹10L | 7,11,063 (4.96%) | 1,410 |
| Retail Shares Offered | 49,77,443 (34.75%) | 1,38,262 |
| Employee Shares Offered | 1,01,351 (0.71%) | NA |
| Total Shares Offered | 1,43,22,614 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Smartworks Coworking Spaces IPO raises ₹173.64 crore from anchor investors. Smartworks Coworking Spaces IPO Anchor bid date is July 9, 2025. Smartworks Coworking Spaces IPO Anchor Investors list
| Bid Date | July 9, 2025 |
| Shares Offered | 42,66,378 |
| Anchor Portion Size (In Cr.) | 173.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 13, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 12, 2025 |
Smartworks Coworking Spaces IPO opens on July 10, 2025, and closes on July 14, 2025.
| IPO Open Date | Thu, Jul 10, 2025 |
| IPO Close Date | Mon, Jul 14, 2025 |
| Tentative Allotment | Tue, Jul 15, 2025 |
| Initiation of Refunds | Wed, Jul 16, 2025 |
| Credit of Shares to Demat | Wed, Jul 16, 2025 |
| Tentative Listing Date | Thu, Jul 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Jul 14, 2025 |
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 | 2,448 | ₹9,96,336 |
| B-HNI (Min) | 69 | 2,484 | ₹10,10,988 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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, and medical centers for employee well-being.
As of March 31, 2025, the company had 794 permanent employees.
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.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 4,650.85 | 4,147.08 | 4,473.50 |
| Total Income | 1,409.67 | 1,113.11 | 744.07 |
| Profit After Tax | -63.18 | -49.96 | -101.05 |
| EBITDA | 857.26 | 659.67 | 424.00 |
| Net Worth | 107.51 | 50.01 | 31.47 |
| Reserves and Surplus | 4.69 | 29.01 | -46.23 |
| Total Borrowing | 397.77 | 427.35 | 515.39 |
| Amount in ₹ Crore | |||
The market capitalization of Smartworks Coworking Spaces IPO is ₹4644.82 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROCE | 42.30% |
| Debt/Equity | 2.90 |
| RoNW | -58.76% |
| EBITDA Margin | 62.39% |
| Price to Book Value | 38.58 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | -6.12 | -5.54 |
The Company Smartworks Coworking Spaces IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company | 114.00 |
| 2 | Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres | 225.84 |
| 3 | General corporate purposes | 56.63 |
[Dilip Davda] SCSL has emerged one of the leading suppliers of office experience and managed campus platforms. It’s thrust on MNC customers with long term contracts has yielded desired benefits. The company has posted growth in its top lines with cash EBITDA at gross levels. It posted losses at net levels following accounting provisioning required new accounting standards. Prima facie the issue appears negatively priced, but has good cash surplus for the reported periods. Well-informed/Cash surplus investors may park moderate funds for medium to long term. Read detail review...
| Listing Date | July 17, 2025 |
| BSE Script Code | 544447 |
| NSE Symbol | SMARTWORKS |
| ISIN | INE0NAZ01010 |
| Final Issue Price | ₹407 per share |
| NSE Listing Group | EQ (Rolling) |
| BSE Listing Group | B |
Smartworks Coworking Spaces Ltd.
Unit No. 305-310,
Plot No 9, 10 and 11, Vardhman Trade Centre,
Nehru Place, South Delhi,
Delhi, New Delhi, 110019
Phone: +91 83840 62876
Email: companysecretary@sworks.co.in
Website: https://www.smartworksoffice.com/home/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: smartwork.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Smartworks Coworking Spaces IPO is a main-board IPO of 1,43,21,474 equity shares of the face value of ₹10 aggregating up to ₹582.56 Crores. The issue is priced at ₹407 per share. The minimum order quantity is 36.
The IPO opens on July 10, 2025, and closes on July 14, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Smartworks Coworking Spaces IPO using UPI as a payment gateway. Zerodha customers can apply in Smartworks Coworking Spaces IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Smartworks Coworking Spaces IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Smartworks Coworking Spaces IPO opens on July 10, 2025 and closes on July 14, 2025.
Smartworks Coworking Spaces IPO lot size is 36, and the minimum amount required for application is ₹14,652.
You can apply in Smartworks Coworking Spaces IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Smartworks Coworking Spaces IPO will be done on Tuesday, July 15, 2025, and the allotted shares will be credited to your demat account by Wednesday, July 16, 2025. Check the Smartworks Coworking Spaces IPO allotment status.
The Smartworks Coworking Spaces IPO listing date is on Thursday, July 17, 2025.
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