Workmates Core2Cloud IPO
Open SmeCurrent GMP
₹88 (+43.14%)
Price Band
₹ 200 – 204
Lot Size
600
Issue Size
₹69.84 Cr
Minimum Investment
₹244800 (1200 Shares)
Listing Date
18 November 2025
Subscription
131.6x
About the Company
Workmates Core2Cloud Solution Limited
Headquarters: Kolkata, India
Founded: 2018
Status: AWS Premier Consulting Partner
Overview:
Workmates Core2Cloud Solution Limited is a leading AWS Premier Consulting Partner based in Kolkata, India, renowned for delivering scalable, secure, and innovative cloud solutions. Since its inception in 2018, the company has rapidly grown to become one of India’s most trusted cloud consulting providers. With a strong focus on customer success, Workmates Core2Cloud has successfully completed over 350 projects for more than 200 clients across diverse industries such as finance, healthcare, retail, e-commerce, and media.
Core Services:
- Cloud Migration & Managed Services:
End-to-end migration of applications and workloads to AWS with continuous monitoring, performance optimization, and cost efficiency. - DevOps & Automation:
Implementation of CI/CD pipelines, infrastructure automation, and workflow orchestration using tools like AWS CloudFormation and Terraform. - Cybersecurity & Analytics:
Comprehensive cloud and hybrid security solutions, compliance management, and data analytics services for actionable business insights. - Application Development:
Design and development of custom cloud-native applications tailored to specific business objectives and operational needs. - SAP Infrastructure Support:
Specialized services for migrating, deploying, and managing SAP workloads on AWS to enhance reliability and scalability. - Emerging Technologies:
Integration and deployment of cutting-edge technologies including IoT, Blockchain, Artificial Intelligence/Machine Learning (AI/ML), Virtual Reality (VR), and Augmented Reality (AR).
Team Strength:
As of March 31, 2025, Workmates Core2Cloud Solution Limited has a total workforce of 129 professionals across multiple departments, contributing to the company’s mission of driving digital transformation through cloud innovation.
Promoters
- Debasish Sarkar
- Prajnashree Mohapatra
- Shilpa Mohta
- Anindya Sen
- Anjali Awasthi
- Anirban Dasgupta
- Kamal Nath
Promoters Holding
Holding Pre Issue
98.10%
Holding Post Issue
0.00%
Objects of the Issue
The Company Workmates Core2Cloud IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Prepayment or repayment of secured loan availed by our Company from Banks / Financial Institutions
- Funding of Working Capital requirements of our company
- General corporate purposes
Address / Contact Info
Workmates Core2Cloud Solution Ltd.
Flat 7, 3rd Floor, 3A
Rammohan Mullick Garden Lane
Kolkata, West Bengal, 700010
Phone: + 91 33 450 8492
Email: cs@cloudworkmates.com
Website: http://www.cloudworkmates.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 11 November 2025
IPO Close Date
Thursday, 13 November 2025
Basis of Allotment
Friday, 14 November 2025
Initiation of Refunds
Monday, 17 November 2025
Credit of Shares to Demat
Monday, 17 November 2025
Listing Date
Tuesday, 18 November 2025 — NSE & BSE
Important Dates
Open Date
11 November 2025
Close Date
13 November 2025
Basis Of Allotment
14 November 2025
Listing Date
18 November 2025
Financial Performance (₹ in Crores)
| Particular | 31 Aug 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 69.44 | 62.16 | 24.57 | 11.14 |
| Revenue | 59.55 | 108.39 | 53.53 | 29.14 |
| Profit After Tax | 7.22 | 13.93 | 5.35 | 1.86 |
| Net Worth | 30.1 | 22.89 | 8.96 | 3.61 |
| Reserve & Surplus | 20.09 | 22.88 | 8.95 | 3.6 |
| Total Borrowings | 8.68 | 8.79 | 0 | 0 |
EPS Pre
13.91%
EPS Post
13.41%
P/E Pre
14.66
P/E (Post Issue)
15.21x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 67.44 | 85.1 | 69.31 |
| ROCE % | 64.61 | 122.44 | 100.86 |
| Debt / Equity | 0.38 | 0 | 0 |
| RoNW % | 60.85 | 59.7 | 51.47 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 12.85 | 9.99 | 6.38 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 662400 | 26.89 | 0 |
| Non-Institutional | 661200 | 26.84 | 0 |
| BNII | 326400 | 13.25 | 0 |
| SNII | 163200 | 6.62 | 0 |
| Retail Investors | 1140000 | 46.27 | 0 |
| Total | 2463600 | 100 | 0 |
Subscription Status ( Thu, 13 Nov 25 01:38 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 662400 | 97393200 | 147.03x |
| Non-Institutional | 661200 | 99541200 | 150.55x |
| Retail Investors | 1140000 | 127274400 | 111.64x |
| Total | 2463600 | 324208800 | 131.6x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Workmates Core2Cloud Solution Ltd | 10 | 0.00 | 13.91 | 13.91 | 60.85 | 22.86 |
| Persistent System Ltd | 5 | 63.10 | 91.22 | 90.24 | 24.80 | 405.46 |
| Orient Technologies Ltd | 10 | 27.64 | 12.85 | 12.85 | 20.00 | 79.17 |
| LTIMindtree Ltd | 10 | 33.10 | 155.29 | 155.00 | 21.50 | 767.28 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | 244,800.00 |
| Retail (Max) | 2 | 1,200 | 244,800.00 |
| S-HNI (Min) | 3 | 1,800 | 367,200.00 |
| S-HNI (Max) | 8 | 4,800 | 979,200.00 |
| B-HNI (Min) | 9 | 5,400 | 1,101,600.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Horizon Management Private Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Workmates Core2Cloud IPO is a Book-building IPO worth ₹69.84 crores. The price band is ₹200 to 204 per share. The IPO opens on Tue, Nov 11, 2025 and closes on Thu, Nov 13, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Workmates Core2Cloud IPO opens on Tue, Nov 11, 2025 and closes on Thu, Nov 13, 2025
Workmates Core2Cloud IPO Price Band is ₹200 to 204.
Workmates Core2Cloud IPO lot size is 600, and the minimum amount required for application is ₹244800.
The minimum investment for Workmates Core2Cloud IPO is approximately ₹244800 based on the upper price band.
To apply for the Workmates Core2Cloud IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Nov 13, 2025. After submission, funds are blocked until the basis of allotment of Workmates Core2Cloud IPO is finalised.
Workmates Core2Cloud IPO issue size is ₹69.84 crores.
Workmates Core2Cloud IPO allotment date is Sat, Jun 27, 2026.
The registrar for Workmates Core2Cloud IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Workmates Core2Cloud IPO through their official website or helpline.
The Workmates Core2Cloud IPO GMP (Grey Market Premium) is ₹88 as of Tue, Nov 18, 2025. Based on the upper price band of ₹204 per share, the estimated Workmates Core2Cloud IPO listing price is ₹292, indicating a potential listing gain of approximately 31% over the issue price.