Smartworks Coworking Spaces IPO
Smartworks Coworking Spaces IPO — date, price band, lot size & details 2025
Smartworks Coworking Spaces listed on 17 Jul 2025 at ₹435, 6.9% above the ₹407 issue price.
Smartworks Coworking Spaces offers managed, tech-enabled office campuses to mid and large enterprises. It served 738 clients with 152,619 seats on 31 March 2025.
Stock price
Smartworks Coworking Spaces is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 10 Jul 2025
- Close 14 Jul 2025
- Allotment 15 Jul 2025
- Refund/credit 16 Jul 2025
- Listing 17 Jul 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 10 to 14 Jul, 2025 |
|---|---|
| Price Band | ₹387 – ₹407 |
| Face Value | ₹10 |
| Lot Size | 36 Shares |
| Issue Size | ₹582.56 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 37.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,652 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 36 shares at the ₹407 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 744.07 crore in FY2023 to Rs 1,409.67 crore in FY2025.
- 02The net loss narrowed from Rs 101.05 crore in FY2023 to Rs 63.18 crore in FY2025.
- 03Rs 445.08 crore of the Rs 582.56 crore issue was fresh capital.
- 04The company served 738 clients with 152,619 seats on 31 March 2025.
- 05Rs 114.00 crore of the proceeds was for repaying debt, which stood at Rs 397.77 crore on 31 March 2025.
Risks · 7
- 01The company made losses in all three years shown, including Rs 63.18 crore in FY2025.
- 02The source shows the post-issue P/E as negative, so earnings cannot support the price of Rs 407.
- 03The EBITDA margin of 62.39% is high because lease costs are treated differently, while the PAT margin was negative at 4.60%.
- 04Debt to equity was 2.90 and net worth was only Rs 107.51 crore on 31 March 2025.
- 05The company leases its centres, and 12,044 seats were yet to be occupied.
- 06Rs 137.48 crore of the issue was offer for sale and did not reach the company.
- 07Promoters held 65.19% before the issue and held 58.25% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Smartworks Coworking Spaces offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Smartworks Coworking Spaces RHP.
Where the money goes
₹459.99 Cr of the issue is earmarked to named objects.
Smartworks Coworking Spaces IPO Anchor Investors
13 anchor investors across 12 fund houses committed ₹173.62 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
On 31 March 2025 the company served 738 clients with 152,619 seats. It later had 728 clients and 169,541 seats, with 12,044 seats yet to be occupied.
On 31 March 2024 it held four of India's five largest leased centres, including the 0.7 million square feet Vaishnavi Tech Park in Bengaluru.
The IPO was Rs 582.56 crore, with Rs 445.08 crore of fresh issue and Rs 137.48 crore of offer for sale. Rs 225.84 crore was planned for fit-outs of new centres and Rs 114.00 crore for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Smartworks Coworking Spaces IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
53 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Kotak Mahindra Capital Company Limited
30 issues handledBest listing: Moneyview (+61.8%). Weakest: Amagi Media Labs (-12.2%).
IIFL Capital Services Limited
50 issues handledBest listing: Tonbo Imaging India (+65.7%). Weakest: Acevector (-11.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Smartworks Coworking Spaces?
The current Grey Market Premium is ₹24, or 6% over the issue price.
What is the Smartworks Coworking Spaces IPO price band?
₹387 to ₹407, on a face value of ₹10.
When is the allotment?
The basis of allotment is 15 July 2025, with listing on 17 July 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
