Smartworks Coworking's IPO will be listed on BSE and NSE. Shares of the company have begun trading in the grey market even before the issue opened.
The office culture in the country is rapidly changing, and Smartworks Coworking Spaces Limited is leading this transformation. The company's Initial Public Offering (IPO) opened for subscription today, July 10, 2025. The issue will remain open until July 14, 2025. Considering the Grey Market Premium (GMP) and brokerage reports, there is considerable enthusiasm among investors regarding this IPO.
Key Details Related to the Issue
Smartworks aims to raise a total of ₹582.56 crore through its IPO. This includes ₹445 crore through the issuance of new equity shares, while ₹137.56 crore will be raised through an Offer for Sale (OFS). The company has fixed the price band at ₹387 to ₹407 per share. The listing will take place on both BSE and NSE.
Subscription Data for the First Day
On the first day of the IPO, July 10, by 12:18 PM, a total of 19 percent of the shares had been subscribed. The retail category was subscribed 0.25 times, and the Non-Institutional Investors category was booked by 29 percent. This subscription trend indicates a positive initial response from investors.
Activity in the Grey Market
Before the IPO opened, trading of Smartworks shares had already begun in the grey market. According to market reports, the shares are trading at a premium of ₹29. This indicates positive expectations for the stock before listing.
What does the Company do?
Smartworks Coworking Spaces is one of India's leading office management and flexible office space providers. It offers customized office spaces to companies and multinational corporations. The company has office centers in several major metropolitan cities across the country, which operate on long-term contracts.
Key Features of the Business Model
Smartworks' business model is considered scalable and cost-efficient. The company has kept its operating expenses significantly below the industry average in recent years. Furthermore, the company is diversifying its income through fit-out-as-a-service, value-added services, and technology integration.
Business Strengths of Smartworks
- Affordable office operation model
- Strong presence in major cities
- MNC-based long-term contracts
- Offering value-added services
- Technology-equipped office solutions
- Experienced management team
Timeline for the Upcoming Days
Event Date
IPO Opening Date July 10, 2025
IPO Closing Date July 14, 2025
Tentative Allotment Date July 15, 2025
Refund Process Begins July 16, 2025
Shares Credited to Demat Accounts July 16, 2025
Tentative Listing Date July 17, 2025
Last Time for UPI Mandate Confirmation July 14, 2025, 5 PM
Performance of the Previous Financial Year
Smartworks has seen consistent growth in its topline over the past three years. Although the company is profitable at the EBITDA level, a loss has been recorded at the net level due to the implementation of the new accounting standard. ROU assets and fixed lease liabilities have been a major reason for this.
