Smartworks Coworking IPO GMP In Focus Ahead Of Opening On July 10; Check Details

Smartworks Coworking Spaces Ltd. is set to launch its initial public offering (IPO) this week to raise over Rs 580 crore from the primary market.

The company provides workspace solutions to corporations. The mainboard issue is scheduled to open for subscription on July 10.

Investors who want to participate in the Smartworks Coworking IPO can check the following details before applying for shares of the company.

The grey market premium (GMP) for the Smartworks Coworking IPO stood at Rs 28 apiece as of 9:32 a.m. on July 9. The latest GMP indicates a listing price of Rs 435 apiece at a premium of 6.88% compared to the upper limit of the IPO price band.

Note: GMP does not represent official data and is based on speculation.

The Smartworks Coworking IPO is a book-building issue aimed at raising Rs 582.56 crore. The public offer comprises a fresh issue of 1.09 crore shares, worth Rs 445 crore, and an offer-for-sale (OFS) of 34 lakh shares, amounting to Rs 137.56 crore.

The price band for the IPO has been fixed between Rs 387 and Rs 407 per share. 

Retail investors can subscribe to the IPO by bidding for a single lot size of 36 shares, amounting to an investment of Rs 13,932. Small Non-Institutional Investors need to bid for at least 14 lots, requiring an investment of Rs 2,05,128. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 69 lots, leading to an investment of Rs 10,10,988.

Investors can bid for shares in the IPO from July 10 to July 14. The allotment of shares is proposed to be finalised on July 15. The company will transfer shares to the Demat accounts of successful bidders on July 16 and refunds for non-allottees will be done on the same day.

Shares of Smartworks Coworking Spaces are likely to be listed on the BSE and NSE on July 17.

JM Financial Ltd. is the book-running lead manager of the Smartworks Coworking IPO. MUFG Intime India Pvt. is the registrar for the issue.

The company has planned to use proceeds from the IPO to clear debt, fund capital expenditure and for general corporate purposes.

The company provides customised workspace solutions to corporates, MNCs and startups. It is present in 14 cities in India. The company also operates two cetres in Singapore.

Smartworks Coworking Spaces Ltd. reported a 26.6% rise in revenue in FY25 to Rs 1,409.67 crore, compared to Rs 1,113.11 crore in FY24. The company reported a net loss of Rs 63.18 crore in FY 2024-25, marking a year-on-year rise from a net loss of Rs 49.96 crore in the preceding fiscal.