Workmates Core2Cloud IPO
GMP, Subscription, Price, Dates & Financial Details
It - Networking
Workmates Core2Cloud Solution LimitedHeadquarters: Kolkata, India Founded: 2018 Status: AWS Premier Consulting PartnerOverview: Workmates Core2Cloud Solution Limited is a leading AWS Premier Consulting Partner based in Kolkata, India, renowned for delivering scalable, secure, and innovative cloud…
Open Date
Tue, 11 Nov 2025
Close Date
Thu, 13 Nov 2025
Price Band
₹ 200 – 204
Lot Size
600
Issue Size
₹ 69.84 Cr
Minimum Investment
₹ 244,800 (1200 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
Workmates Core2Cloud IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹69.84 Crore, comprising a fresh issue of 27.37 Lakh equity shares aggregating to ₹55.84 Crore and an offer for sale (OFS) of 5.15 Lakh equity shares aggregating to ₹10.50 Crore by the existing shareholders.
The Workmates Core2Cloud IPO remained open for subscription from November 11, 2025, to November 13, 2025. The basis of allotment was finalized on November 14, 2025, and the company's shares were listed on BSE SME Platform on November 18, 2025.
The company had fixed the price band at ₹200 to ₹204 per share, with a lot size of 600 shares. Retail investors were required to make a minimum investment of ₹244,800 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Horizon Management Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Workmates Core2Cloud Solution Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Workmates Core2Cloud IPO Timeline (Tentative)
- IPO Open Date
- Tue, 11 Nov 25
- IPO Close Date
- Thu, 13 Nov 25
- Basis of Allotment
- Fri, 14 Nov 25
- Initiation of Refunds
- Mon, 17 Nov 25
- Credit of Shares to Demat
- Mon, 17 Nov 25
- Listing Date
- Tue, 18 Nov 25 — NSE & BSE
Open Date
11 November 2025
Close Date
13 November 2025
Basis Of Allotment
14 November 2025
Listing Date
18 November 2025
IPO Subscription
Check Live Subscription →The Workmates Core2Cloud IPO has received bids for 32,42,08,800 shares against 24,63,600 shares offered, resulting in an overall subscription of 131.6x. the NII category is subscribed 150.55x, Retail Investors 111.64x, and QIBs 147.03x.
QIB
147.03x
NII
150.55x
RII
111.64x
Total
131.6x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 11,40,000 shares, representing 46.27% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 6,62,400 shares (26.89%), while Non-Institutional Investors (NIIs) receive 6,61,200 shares (26.84%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 662,400 | 26.89% |
| Non-Institutional | 661,200 | 26.84% |
| BNII | 326,400 | 13.25% |
| SNII | 163,200 | 6.62% |
| Retail Investors | 1,140,000 | 46.27% |
| Total | 2,463,600 | 100% |
Financials Details(₹ 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 |
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.
Workmates Core2Cloud Solution Limited KPI Information
| 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 |
| Pat Margin % | 12.85 | 9.99 | 6.38 |
Peers Comparison
| 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 |
About Workmates Core2Cloud Solution Limited
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.
Workmates Core2Cloud IPO 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%
Workmates Core2Cloud IPO Objective
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
Workmates Core2Cloud Solution Limited Address / Contact Details
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
Workmates Core2Cloud IPO Lot Size
The Workmates Core2Cloud IPO has a lot size of 600 shares. Retail investors require a minimum investment of ₹2,44,800 by applying for 2 lot (1,200 shares). The maximum application allowed for the retail category is 2 lots (1,200 shares), requiring an investment of ₹2,44,800.
| 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 |
Issue Reservation
- QIB — 26.89%
- NII — 26.84%
- RII — 46.27%
Book Running Lead Managers
- Horizon Management Private 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 Workmates Core2Cloud IPO?
Workmates Core2Cloud IPO is a Book-building IPO with a total issue size of ₹69.84 crore. The Workmates Core2Cloud IPO price band is ₹200 to 204 per share. The Workmates Core2Cloud IPO subscription opens on Tue, Nov 11, 2025, and closes on Thu, Nov 13, 2025. The Workmates Core2Cloud IPO will be listed on the BSE. MUFG Intime India Private Limited is the registrar for the Workmates Core2Cloud IPO.
When will the Workmates Core2Cloud IPO open for subscription?
The Workmates Core2Cloud IPO opens on Tue, Nov 11, 2025 and closes on Thu, Nov 13, 2025
What is Workmates Core2Cloud IPO Price Band?
Workmates Core2Cloud IPO Price Band is ₹200 to 204 per share.
What is Workmates Core2Cloud IPO Lot Size?
Workmates Core2Cloud IPO lot size is 600 shares, Retail investors need a minimum investment of ₹244800 based on the upper price band
What is the minimum investment for Workmates Core2Cloud IPO?
The minimum investment for Workmates Core2Cloud IPO is ₹244800, based on one lot of 600 shares at the upper price band of ₹204 per share.
How to apply for Workmates Core2Cloud IPO?
Investors can apply for the Workmates Core2Cloud 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 Thu, Nov 13, 2025. The application amount remains blocked until the Workmates Core2Cloud IPO allotment is finalized.
What is Workmates Core2Cloud IPO Issue Size?
Workmates Core2Cloud IPO issue size is ₹69.84 crores.
What is the Workmates Core2Cloud IPO Allotment Date?
Workmates Core2Cloud IPO allotment date is Fri, Nov 14, 2025.
Who is the Workmates Core2Cloud IPO Registrar?
The registrar for Workmates Core2Cloud IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Workmates Core2Cloud IPO allotment status, refund processing, and other IPO-related information.
What is the Workmates Core2Cloud IPO GMP?
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 43.14% over the issue price.
Who is the Workmates Core2Cloud IPO Lead Manager?
The book-running lead managers (BRLMs) for the Workmates Core2Cloud IPO are Horizon Management Private 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 Workmates Core2Cloud IPO Red Herring Prospectus (RHP).