Smartworks Coworking Spaces Ltd.'s initial public offering is scheduled to open on Thursday.
The price band for the IPO is set between Rs 387 and Rs 407 per share. The company will raise Rs 445 crore via a fresh issue of shares and will offer existing shares worth Rs 137.6 crore for sale, as per the red herring prospectus.
JM Financial Ltd., BOB Capital Markets Ltd., IIFL Securities Ltd. and Kotak Mahindra Capital Co. are the book-running lead managers of the offering and Link Intime India Pvt. is the registrar.
Shares of Smartworks Coworking will debut on BSE and National Stock Exchange.
IPO Details
Issue opens: July 10.
Issue closes: July 14.
Issue price: Rs 387-407.
Fresh issue: Rs 445 crore.
Offer for sale: Rs 138 crore.
Lot size: Minimum 36 shares.
Business
Smartworks is a high-quality office space and managed campuses. The company provides modern amenities and services that enhance the work environment. It also turns unused properties into Smartworks-branded campuses.
Smartworks serves mid-sized and large companies including Indian corporates, multinational firms and startups. The spaces support everyday employee needs along with supporting teamwork and a positive workplace culture.
Use Of Proceeds
The proceeds will be used by the company in repaying all the debts, fund capital expenditure and for other general corporate purposes.
Financial Performance
Smartworks recorded a 27% rise in revenue to Rs 1,409.7 crore in financial year 2025 as compared to Rs 1,113.1 crore in fiscal 2024.
The company posted a net loss of Rs 63.2 crore in fiscal 2025 as compared to a net loss of Rs 49.96 crore in the financial year 2024.
GMP
The grey market premium of Smartworks is Rs 30 as of 9:32 p.m., according to InvestorGain. This implies shares of the company are estimated to list at Rs 437 apiece, indicating a 7.37% premium to the upper end of the price band.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.
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