Smartworks Coworking Spaces Ltd., a leading provider of managed office solutions in India, is stepping into the public market with its much-anticipated Initial Public Offering (IPO). Known for its tech-enabled, fully serviced workspaces tailored to mid-to-large enterprises, Smartworks is now inviting investors to be part of its growth journey.
IPO Timeline
Opening Date: July 10, 2025
Closing Date: July 14, 2025
Allotment Finalization: July 15, 2025
Listing Date: July 17, 2025
Exchanges: BSE and NSE
Price Band and Lot Size
Price Band: ₹387 to ₹407 per equity share
Face Value: ₹10 per share
Lot Size: 36 shares per lot
Minimum Investment: ₹14,652
Issue Details
Total Issue Size: ₹582.56 crore
Fresh Issue: ₹445 crore
Offer for Sale (OFS): ₹137.56 crore
Promoters Participating in OFS: Neetish Sarda, Harsh Binani, Saumya Binani, and affiliated entities
Lead Manager: JM Financial
Registrar: MUFG Intime India (Link Intime)
Grey Market Premium (GMP)
As of now, no active GMP has been reported for Smartworks IPO. This suggests cautious sentiment in the unofficial market, possibly due to the company’s recent financial losses or broader market conditions.
Use of Proceeds
Smartworks plans to utilize the IPO funds for:
Capital expenditure on new workspace fit-outs and security deposits (₹226 crore)
Repayment of outstanding borrowings (₹114 crore)
General corporate purposes
Company Snapshot
Founded in 2015, Smartworks has rapidly scaled its footprint across major Indian cities including Bengaluru, Mumbai, Hyderabad, Gurugram, and Chennai. As of June 2025, it manages over 10 million square feet of office space and serves more than 728 clients. Its largest center, located at Vaishnavi Tech Park in Bengaluru, spans a massive 700,000 square feet.
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