The offer was obtained for 11.64 lakh shares against the total issue of Rs 1.04 crore. Demand was led by non-institutional investors (NIIS), who subscribed 18% of their allotted quota, followed by retail investors at 15%. The employee reserved part was also subscribed to 18%. However, no bid has been seen in the qualified institutional buyer (QIB) segment.
Smart Works Co -worker IPO GMP
Meanwhile, in the gray market, Smart Works shares were trading at a premium of Rs 30-32, which is more than Rs 25-27 than the IPO launch. This translates to a gray market premium (GMP) of about 7% compared to about 6%.
Smartworks co -worker IPO details
Smart Works will provide Rs. Wanted to increase between 576 crore and 583 crore. The IPO will be open for subscription until July 14, with BSE and NSE listed on July 17.
In this issue, Rs. There is a new equity issue of Rs 445 crore and offer for sale of 33.79 lakh shares. Price band share Rs. 387–407 has been fixed, with an employee’s discount of 37 37. Speaking is available in many stocks and in subsequent multiplication.
Overview of the company
Established in 2015, Smartworks is India’s largest operated workspace operator by leased area, with more than 8.99 million square feet in 50 centers in 15 Indian cities by March 31, 2025. The company also has two operational centers in Singapore.
Smart works mainly serve mid-to-big enterprises in areas such as IT, BFSI and startups. It works directly on the lease model, and is gradually adopting a variable rental agreement to improve cost efficiency.
Income use
From net income, Rs. 225.8 crore will be used for fit-out and security deposits at new centers, while Rs. 114 crore has been kept for payment of debt. The remaining funds will be used for general corporate purposes.
Financial
Smart works have shown strong top line growth. Revenue from the operation has almost doubled from 711.39 crore in FY 23, Rs. 1,374.05 crore. The EBITDA also saw a significant improvement, which is Rs 857.26 crore in FY 25. However, the company will pay Rs. Posts a net loss of Rs 63.17 crore, though the margin has steadily improved.
As of March 2025, the company’s business rate was 83.1%, which serves 738 enterprise customers at over 2 lakh seating capacity.
Ings of smart works include wellness zones, convenience stores and design-build (FAAS) solutions, such as Wellness Zone, Facility Stores and Design-Build (FAAS) Solutions for the purpose of enhancing its enterprise-first positioning.
Book lead managers
IPO is being managed by JM Financial, Bob Capital Markets, IIFL Securities and Kotak Mahindra Capital.
(Connection: The recommendations, suggestions, opinions and opinions provided by experts have their own. This does not represent opinions of economic time)
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