Smartworks Coworking IPO
GMP, Subscription, Price, Dates & Financial Details
Incorporated in 2015, Smartworks is India's largest managed campus operator (by leased portfolio as of March 31, 2024), offering tech-enabled, fully serviced office spaces for mid-to-large enterprises. The company provides customized, modern workspaces with a strong focus on employee experience and…
Open Date
Thu, 10 Jul 2025
Close Date
Mon, 14 Jul 2025
Price Band
₹ 387 – 407
Lot Size
36
Issue Size
₹ 582.56 Cr
Minimum Investment
₹ 14,652 (36 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Smartworks Coworking IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹582.56 Crore, comprising a fresh issue of 1.09 Crore equity shares aggregating to ₹445.00 Crore and an offer for sale (OFS) of 33.80 Lakh equity shares aggregating to ₹137.56 Crore by the existing shareholders.
The Smartworks Coworking IPO remained open for subscription from July 10, 2025, to July 14, 2025. The basis of allotment was finalized on July 15, 2025, and the company's shares were listed on the NSE and BSE on July 17, 2025.
The company had fixed the price band at ₹387 to ₹407 per share, with a lot size of 36 shares. Retail investors were required to make a minimum investment of ₹14,652 (based on the upper price band) to apply for one lot.
The IPO also included a reservation of 107,142 equity shares for eligible employees, who received a discount of ₹37 per share.
MUFG Intime India Private Limited served as the registrar to the issue. IIFL Capital Services Limited, Bob Capital Markets Limited, JM Financial Limited, and Kotak Mahindra Capital Company Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Smartworks Coworking Spaces Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Smartworks Coworking IPO Timeline (Tentative)
- IPO Open Date
- Thu, 10 Jul 25
- IPO Close Date
- Mon, 14 Jul 25
- Basis of Allotment
- Tue, 15 Jul 25
- Initiation of Refunds
- Wed, 16 Jul 25
- Credit of Shares to Demat
- Wed, 16 Jul 25
- Listing Date
- Thu, 17 Jul 25 — NSE & BSE
Open Date
10 July 2025
Close Date
14 July 2025
Basis Of Allotment
15 July 2025
Listing Date
17 July 2025
IPO Subscription
Check Live Subscription →The Smartworks Coworking IPO has received bids for 13,99,09,320 shares against 1,04,01,828 shares offered, resulting in an overall subscription of 13.45x. the NII category is subscribed 22.78x, Retail Investors 3.53x, Employees 2.38x, and QIBs 24.41x. Within the NII category, BNII is subscribed 27.14x, while SNII is subscribed 14.06x.
QIB
24.41x
NII
22.78x
BNII
27.14x
SNII
14.06x
RII
3.53x
EMP
2.38x
Total
13.45x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 51,73,543 shares, representing 0% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 29,03,910 shares (0%), while Non-Institutional Investors (NIIs) receive 22,17,233 shares (0%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 2,903,910 | 0% |
| Non-Institutional | 2,217,233 | 0% |
| BNII | 1,478,156 | 0% |
| SNII | 739,077 | 0% |
| Retail Investors | 5,173,543 | 0% |
| Employees | 107,142 | 0% |
| Total | 10,401,828 | 0% |
Financials Details(₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 4650.85 | 4147.08 | 4473.5 |
| Revenue | 1409.67 | 1113.11 | 744.07 |
| Profit After Tax | -63.18 | -49.83 | -101.02 |
| Net Worth | 107.51 | 50.01 | 31.47 |
| Reserve & Surplus | 4.69 | 36.89 | -46.23 |
| Total Borrowings | 397.77 | 427.35 | 515.39 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Smartworks Coworking Spaces Limited KPI Information
| Particular | KPI as of Mon, Mar 31, 2025. |
|---|---|
| ROCE % | 42.3 |
| Debt / Equity | 2.9 |
| RoNW % | -58.76 |
Peers Comparison
No Peer Comparision Available
About Smartworks Coworking Spaces Limited
Incorporated in 2015, Smartworks is India's largest managed campus operator (by leased portfolio as of March 31, 2024), offering tech-enabled, fully serviced office spaces for mid-to-large enterprises. The company provides customized, modern workspaces with a strong focus on employee experience and operational efficiency.
Key Metrics (as of March 31, 2025 unless stated otherwise):
- Total Leased Area (SBA): 8.99 million sq. ft.
- Active Clients: 728
- Active Seats: 169,541 (with ~12,000 yet to be occupied)
- Average Centre Size: 0.18 million sq. ft.
- Employees: 651 permanent staff
- International Presence: 2 centers in Singapore (35,036 sq. ft., 83 clients)
- Largest Center: Vaishnavi Tech Park, Bengaluru (0.7 million sq. ft.)
Business Model:
A Managed Campus Platform connecting:
- Clients: Offers customizable, tech-integrated, cost-efficient workspaces with amenities to boost productivity.
- Landlords: Transforms bare shell properties into Smartworks-branded campuses with long-term lease benefits.
- Employees: Provides access to cafeterias, gyms, crèches, medical centers, and collaborative spaces.
- Service Partners: Collaborates with brands like Chaipoint and ClearTax to enrich service offerings.
Competitive Strengths:
- Market Leadership in the managed office space segment
- Ability to lease and transform large campuses in key urban clusters
- Enterprise-focused client acquisition strategy
- Operational efficiency through tech integration and process standardization
- Financial discipline enabling capital-efficient growth
- Risk mitigation strategy ensuring financial stability
Smartworks Coworking IPO Promoters
- Neetish Sarda
- Harsh Binani
- Saumya Binani
- NS Niketan LLP
- SNS Infrareality LLP
- Aryadeep Realstates Private Limited
Promoters Holding
Holding Pre Issue
69.19%
Holding Post Issue
58.25%
Smartworks Coworking IPO Objective
The Company intends to utilize the net proceeds of the Offer in the following objects:
- Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company.
- Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres (“Capex”)
- General corporate purposes.
Smartworks Coworking Spaces Limited Address / Contact Details
Smartworks Coworking Spaces Limited
Unit No. 305-310, Plot No 9, 10
and 11, Vardhman Trade Centre
Nehru Place, South Delhi,
Delhi – 110 019, India
Phone: +91 83840 62876
Email: companysecretary@sworks.co.in
Website: https://www.smartworksoffice.com/home/
IPO Snapshot
Smartworks Coworking IPO Lot Size
The Smartworks Coworking IPO has a lot size of 36 shares. Retail investors require a minimum investment of ₹14,652 by applying for 1 lot (36 shares). The maximum application allowed for the retail category is 13 lots (468 shares), requiring an investment of ₹1,90,476.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 36 | 14,652.00 |
| Retail (Max) | 13 | 468 | 190,476.00 |
| S-HNI (Min) | 14 | 504 | 205,128.00 |
| S-HNI (Max) | 68 | 2,448 | 996,336.00 |
| B-HNI (Min) | 69 | 2,484 | 1,010,988.00 |
Issue Reservation
Book Running Lead Managers
- IIFL Capital Services Limited
- Bob Capital Markets Limited
- JM Financial Limited
- Kotak Mahindra Capital Company Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Smartworks Coworking IPO?
Smartworks Coworking IPO is a Book-building IPO with a total issue size of ₹582.56 crore. The Smartworks Coworking IPO price band is ₹387 to 407 per share. The Smartworks Coworking IPO subscription opens on Thu, Jul 10, 2025, and closes on Mon, Jul 14, 2025. The Smartworks Coworking IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Smartworks Coworking IPO.
When will the Smartworks Coworking IPO open for subscription?
The Smartworks Coworking IPO opens on Thu, Jul 10, 2025 and closes on Mon, Jul 14, 2025
What is Smartworks Coworking IPO Price Band?
Smartworks Coworking IPO Price Band is ₹387 to 407 per share.
What is Smartworks Coworking IPO Lot Size?
Smartworks Coworking IPO lot size is 36 shares, Retail investors need a minimum investment of ₹14652 based on the upper price band
What is the minimum investment for Smartworks Coworking IPO?
The minimum investment for Smartworks Coworking IPO is ₹14652, based on one lot of 36 shares at the upper price band of ₹407 per share.
How to apply for Smartworks Coworking IPO?
Investors can apply for the Smartworks Coworking IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Mon, Jul 14, 2025. The application amount remains blocked until the Smartworks Coworking IPO allotment is finalized.
What is Smartworks Coworking IPO Issue Size?
Smartworks Coworking IPO issue size is ₹582.56 crores.
What is the Smartworks Coworking IPO Allotment Date?
Smartworks Coworking IPO allotment date is Tue, Jul 15, 2025.
Who is the Smartworks Coworking IPO Registrar?
The registrar for Smartworks Coworking IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Smartworks Coworking IPO allotment status, refund processing, and other IPO-related information.
What is the Smartworks Coworking IPO GMP?
The Smartworks Coworking IPO GMP (Grey Market Premium) is ₹25 as of Thu, Jul 17, 2025. Based on the upper price band of ₹407 per share, the estimated Smartworks Coworking IPO listing price is ₹432, indicating a potential listing gain of approximately 6.14% over the issue price.
Who is the Smartworks Coworking IPO Lead Manager?
The book-running lead managers (BRLMs) for the Smartworks Coworking IPO are IIFL Capital Services Limited, Bob Capital Markets Limited, JM Financial Limited, and Kotak Mahindra Capital Company Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Smartworks Coworking IPO Red Herring Prospectus (RHP).