IPO

Workmates Core2Cloud Solution Limited IPO

BSE SME

Listed On: Nov 18, 2025 at ₹ 387.6

₹ 244800 /1200 Shares
*Min Investment

Check Allotment

11 Nov, 2025

Open Date

13 Nov, 2025

Close Date

14 Nov, 2025

Allotment Date

18 Nov, 2025

Listing Date
Workmates Core2Cloud Solution IPO Live Subscription Details
View Subscription Details
QIB 147.03x
Individual 111.64x
NIIs 203.31x
BHNI 245.41x
SHNI 119.11x
Individual 111.64x
Total 141.45x
Last updated: 13 Nov 2025, 06:57 PM
Workmates Core2Cloud Solution IPO Issue Details
  • Issue Price ₹200-204 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 34,23,600 shares(aggregating up to ₹69.84 crore)
  • Fresh Share 29,08,800 shares(aggregating up to ₹59.34 crore)
  • Offer For Sale 5,14,800 shares(aggregating up to ₹10.5 crore)
  • Listing at BSE SME
  • List Price 387.6
  • Listing Date 2025-11-18
  • Lead Manager Horizon Financial Pvt.Ltd
  • Registrar MUFG Intime India Pvt.Ltd
Market Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Individual (min) 2 1200 ₹244800
Individual(max) 2 1200 ₹244800
SHNI(min) 3 1800 ₹367200
SHNI(max) 8 4800 ₹979200
BHNI(min) 9 5400 ₹1101600
Workmates Core2Cloud Solution IPO Reservation

Workmates Core2Cloud Solution IPO offers total 34,23,600 shares. Out of which 6,62,400 (19.35%) allocated to QIB, 4,89,600 (14.3%) allocated to NII,11,40,000 (33.3%) allocated to RII, NA (NA%) allocated to employees and 9,60,000 (28.04%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 9,60,000 (28.04%)
Market Maker Shares Offered 1,71,600 (5.01%)
QIB Shares Offered 6,62,400 (19.35%)
NII (HNI) Shares Offered 4,89,600 (14.3%)
bNII > ₹10L 3,26,400 (9.53%)
sNII < ₹10L 1,63,200 (4.77%)
Individual Shares Offered 11,40,000 (33.3%)
Total Shares Offered 34,23,600 (100%)
Workmates Core2Cloud Solution IPO Documents
DRHP
RHP
ANCHOR
Workmates Core2Cloud Solution IPO Details


Workmates Core2Cloud Solution Limited IPO is an SME IPO, priced at ₹200-204 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 34,23,600 equity shares, aggregating up to ₹69.84 crores..

The IPO bidding window is open from Nov 11, 2025 to Nov 13, 2025. The allotment is expected to be finalized on Nov 14, 2025, and the tentative listing date is Nov 18, 2025.

The minimum lot size for Individual investors is 1200 shares, with a minimum investment of ₹244800.

Horizon Financial Pvt.Ltd is acting as the lead manager to the issue. The registrar of the IPO is MUFG Intime India Pvt.Ltd, and

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Workmates Core2Cloud Solution IPO Subscription Analysis And Details
Retail
111.64x
Total
141.45x
As on QIB / NII Individual Total
Shares Offered / Reserved 6,62,400 / 4,89,600 11,40,000 22,92,000
Day 1 11-11-25 06:00 PM
0.00 / 3.63 x 1.72 x 1.63 x
Day 2 12-11-25 06:00 PM
1.48 / 13.58 x 10.19 x 8.40 x
Day 3 13-11-25 06:00 PM
147.03 / 203.31 x 111.64 x 141.45 x
Total No of Applications
1,29,473
Subscription on the basis of Applications
Ind:111.64x BHNI:75.04x SHNI:106.62x
Workmates Core2Cloud Solution Valuations
EPS Pre IPO ₹13.91/-
EPS Post IPO ₹13.41/-
P/E Pre IPO 14.66
P/E Post IPO 15.21
ROE 67.44%
ROCE 64.61%
Debt/Equity 0.38
RoNW 60.85%
PAT Margin 12.85%
Price to Book Value 8.92
Market Cap. 263.54 Cr.
Workmates Core2Cloud Solution Company Financials
In Crs.
In Cr.
31-Aug-25 31-Mar-25 31-Mar-24 31-Mar-23
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 30.10 22.89 8.96 3.61
Reserves & Surplus 20.09 22.88 8.95 3.60
Total Borrowing 8.68 8.79 N/A N/A
About Workmates Core2Cloud Solution Company

Workmates Core2Cloud Solution Limited, a Kolkata-based AWS Premier Consulting Partner, has earned its name for scalable and innovative cloud solutions across India. It has grown rapidly since its inception in 2018 and has successfully completed over 350 projects for more than 200 clients across industries like finance, healthcare, retail, e-commerce, and media.

Workmates Core2Cloud specialises in a comprehensive range of cloud services:
Cloud Migration & Managed Services: Seamless transition and management of applications on AWS, ensuring optimized performance and cost-efficiency.
DevOps & Automation: Implementation of CI/CD pipelines and infrastructure automation using tools like AWS CloudFormation.
Cybersecurity & Analytics: Robust security solutions for cloud and hybrid environments, coupled with data analytics services.
SAP Infrastructure Support: Expertise in migrating and managing SAP workloads on AWS.
Emerging Technologies: Services include IoT, Blockchain, AI/ML, VR, and AR.

As of March 31, 2025, the company had a total strength of 129 in various departments.

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Workmates Core2Cloud Solution - Promoter(s)

Debasish Sarkar

Prajnashree Mohapatra

Shilpa Mohta

Anindya Sen

Anjali Awasthi

Anirban Dasgupta

Kamal Nath

Pre Issue Share Holding : 98.10%

Post Issue Share Holding : %

Workmates Core2Cloud Solution IPO - Issue Objectives
1

Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions

2

Funding of Working Capital requirement of the company.

3

General Corporate Purposes

Contact Details

Workmates Core2Cloud Solution

Flat 7, 3rd Floor, 3A Rammohan Mullick Garden Lane Kolkata, West Bengal, 700010

+91 33 450 8492

cs@cloudworkmates.com

http://www.cloudworkmates.com/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

workmatescore.smeipo@in.mpms.mufg.com

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