IPO

Smartworks Coworking Spaces Limited IPO

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Diversified Commercial Services

Listed On: Jul 17, 2025 at ₹ 435.0(NSE)

₹ 14652 /36 Shares

Check Allotment

10 Jul, 2025

Open Date

14 Jul, 2025

Close Date

15 Jul, 2025

Allotment Date

17 Jul, 2025

Listing Date
Price Summary

Last Closing

558.00 (37.1%)

52 Week High

617.90

52 Week Low

392.70

Last Update

24-Oct-2025 3:30 PM
Smartworks Coworking Spaces IPO Issue Details
  • Issue Price ₹387-407 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,43,13,400 shares(aggregating up to ₹582.56 crore)
  • Fresh Share 1,09,33,660 shares(aggregating up to ₹445 crore)
  • Offer For Sale 33,79,740 shares(aggregating up to ₹147.56 crore)
  • Listing at BSE, NSE
  • List Price 435.0(NSE)
  • Listing Date 2025-07-17
  • Lead Manager Jm Financial Limited
    Bob Capital Markets Limited
    IIFL Capital Services Limited
    Kotak Mahindra Capital Company Limited
  • Registrar MUFG Intime India Private Limited (Link Intime)
Market Lot Size

Investors can bid for a minimum of 36 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)136₹14,652
Retail(max)13468₹1,90,476
SHNI(min) 14504₹2,05,128
SHNI(max) 682,448₹9,96,336
BHNI(min) 692,484₹10,10,988
Smartworks Coworking Spaces IPO Reservation

Smartworks Coworking Spaces IPO offers total NA shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,NA (NA%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares OfferedNA (NA%)
QIB Shares OfferedNA (NA%)
NII (HNI) Shares OfferedNA (NA%)
bNII < ₹10LNA (NA%)
sNII < ₹10LNA (NA%)
Retail Shares OfferedNA (NA%)
Total Shares OfferedNA (NA%)
Smartworks Coworking Spaces IPO Documents
DRHP
RHP
ANCHOR
Smartworks Coworking Spaces IPO Details


Smartworks Coworking Spaces IPO is a book-built issue of ₹582.56 crores, The total issue size is ₹582.56 crores. The IPO of Smartworks Coworking Spaces is priced at ₹387-407 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Jul 10, 2025 and ends on Jul 14, 2025. The allotment for Smartworks Coworking Spaces IPO will be finalized on Jul 15, 2025. Smartworks Coworking Spaces IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jul 17, 2025. The company shall list its equity shares on the BSE, NSE. MUFG Intime India Private Limited (Link Intime) is the registrar of the issue.

Retail investors can bid for a minimum of 36 shares, extendable to 14,652. S-HNIs will be able to bid for 504 shares at ₹2,05,128, while B-HNIs can also apply for a bid of 2,484 shares at ₹10,10,988. The book-running lead manager for the IPO is/are Jm Financial Limited, Bob Capital Markets Limited, IIFL Capital Services Limited, Kotak Mahindra Capital Company Limited.

The total issue ₹582.56 crore, comprising a fresh issue of 1,09,33,660 shares ₹445 crore and having Offer for Sale (OFS) of 33,79,740 shares to mop up ₹147.56 crore.

The Smartworks Coworking Spaces IPO sets its price band at 387-407 for each share. A single application for Smartworks Coworking Spaces Limited IPO must contain at least 36 shares. Sentiment investors need to invest a minimum of 36 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,652 In order to participate in the sNII, investors must purchase at least 14 lots of 504 shares for ₹2,05,128, while the bNII requires 69 lots of 2,484 shares for an investment of ₹10,10,988.

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Smartworks Coworking Spaces IPO Subscription Analysis And Details
Retail
3.53x
QIB
24.41x
NII
22.78x
bNII
27.14x
sNII
14.06x
Total
13.45x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved71,10,63221,33,190
14,22,126    7,11,063		49,77,4421,00,56,237
Day 1 10-07-25 05:00 PM
0.00 x1.00
1.19 x   0.62 x		0.57 x0.50 x
Day 2 11-07-25 05:00 PM
0.63 x1.79
1.94 x   1.49 x		1.18 x1.15 x
Day 3 14-07-25 05:00 PM
24.41 x22.78
27.14 x   14.06 x		3.53 x13.45 x
Total No of Applications
4,52,615
Subscription on the basis of Applications
Retail:3.02x BHNI:5.4x SHNI:14x
Smartworks Coworking Spaces Valuations
EPS Pre IPO -₹6.12/-
EPS Post IPO -₹5.54/-
ROCE 42.30%
Debt/Equity 2.90
RoNW -58.76%
Price to Book Value 38.58
Smartworks Coworking Spaces Company Financials
In Crs.
In Cr.
31-Mar-2531-Mar-2431-Mar-23
Assets4,650.854,147.084,473.5
Revenue1,409.671,113.11744.07
Profit After Tax-63.18-49.96-101.02
Net Worth107.5150.0131.47
Reserves & Surplus4.6929.01-46.23
Total Borrowing397.77427.35515.39
About Smartworks Coworking Spaces Company

Incorporated in 2015, Smartworks Coworking Spaces Limited is involved in the activity of bespoke managed workspace solutions, providing fully serviced, technology-enabled office spaces with design-driven aesthetics and core amenities to suit the particular requirements of businesses and their teams.

As of March 31, 2024, the company manages 8 million square feet of leased area, providing value-based pricing and premium office experiences, reimagining buildings as fully serviced Smartworks branded campuses.The company caters to mid-to-large companies, such as Indian corporates, MNCs, and startups, providing contemporary campuses with design, technology, and facilities such as cafeterias, gyms, crèches, and medical centers to enhance the well-being of employees.

As of March 31, 2024, the company had 603 customers with 130,047 seats. Presently, it has 618 customers and 149,660 seats, with 8,691 seats to be filled.Through March 31, 2024, the company owns four of India's five largest leased centers, including the 0.7 million square feet Vaishnavi Tech Park in Bengaluru, which is larger than other campuses.

As of March 31, 2024, we have 651 permanent staff.

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Smartworks Coworking Spaces - Promoter(s)

Neetish Sarda

Harsh Binani

Saumya Binani

NS Niketan LLP

SNS Infrareality LLP

Aryadeep Realstates Private Limited

Pre Issue Share Holding : 65.19%

Post Issue Share Holding : 58.25%

Smartworks Coworking Spaces IPO - Issue Objectives
1

Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company.

2

Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres (Capex)

3

General corporate purposes.

Smartworks Coworking Spaces IPO - Anchor Investors

Anchor investors invested Rs 174 crore worth shares.
Tata Mutual Fund, Axis New Opportunities AIF, Aditya Birla Sun Life Insurance Company, Baroda BNP Paribas Mutual Fund, Sageone, SBI General Insurance Company, Trust Mutual Fund, BNP Paribas, and Societe Generale are among 12 institutional investors participated through the anchor book.

Strength
Smartworks managed 8.99 million sq. ft. across 50 centres in India
Revenue grew at a CAGR of 38.98% between FY2023 and FY2025.
Committed occupancy rate reached 89.03% as of June 30, 2025.
Serves large enterprise clients with deals up to 6,300 seats.
Weakness
75.19% of rental revenue comes from just four key cities.
Heavy dependence on large clients needing 300+ seats increases risk.
Failure to find right properties may hurt growth and profits.
Past losses and negative cash flows may continue in future.
Contact Details

Smartworks Coworking Spaces

Unit No. 305-310,Plot No 9, 10 and 11, Vardhman Trade Centre, Nehru Place, South Delhi, Delhi, New Delhi, 110019

+91 83840 62876

companysecretary@sworks.co.in

https://www.smartworksoffice.com/home/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

smartwork.ipo@linkintime.co.in

https://in.mpms.mufg.com/Initial_Offer/public-issues.html