Smartworks Coworking Spaces IPO
IPO Listing Details
- Listing Date
17 Jul 2025
- Listing Price
₹436.10
- Listing Change
7.15%
- Last Traded Price
₹455.00
Smartworks Coworking Spaces IPO Details
-
Open Date
10 Jul 2025
-
Close Date
14 Jul 2025
-
Listing Date
17 Jul 2025
- IPO Price Range
₹ 387 to ₹407
- IPO Size
₹ 582.56 Cr
- Listing Exchange
BSE NSE
Smartworks Coworking Spaces IPO Timeline
Smartworks Coworking Spaces IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 10-Jul-25 | 0.00 | 1.04 | 0.60 | 0.52 |
| 11-Jul-25 | 0.64 | 1.86 | 1.23 | 1.20 |
| 14-Jul-25 | 24.92 | 23.68 | 3.69 | 13.92 |
Last Updated: 14 July 2025 6:13 PM by 5paisa
Smartworks Coworking Spaces Ltd is launching a ₹582.56 crore IPO. The company offers fully managed, tech-enabled office spaces tailored for mid-to-large enterprises, including MNCs and startups. Its campuses feature modern design and employee-centric amenities like cafeterias, gyms, crèches, and medical centres. As of March 2025, Smartworks managed 169,541 seats across 728 clients and operates four of India’s five largest leased centres, including Bengaluru’s 0.7 million sq. ft. Vaishnavi Tech Park.
Established in: 2015
Managing Director: Mr. Neetish Sarda
Peers
Awfis Space Solutions Limited
Table Space Technologies Private Limited
WeWork India Management Limited
Smartworks Coworking Spaces Objectives
Repayment/prepayment/redemption of certain borrowings
Capital expenditure and security deposits for new centres
General corporate purposes
Smartworks Coworking Spaces IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹582.56 Cr |
| Offer For Sale | ₹137.56 Cr |
| Fresh Issue | ₹445.00 Cr |
Smartworks Coworking Spaces IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹13,932 |
| Retail (Max) | 13 | 468 | ₹1,81,116 |
| S-HNI (Min) | 14 | 504 | ₹1,95,048 |
| S-HNI (MAX) | 68 | 2448 | ₹9,47,376 |
| B-HNI (Min) | 69 | 2484 | ₹9,61,308 |
Smartworks Coworking Spaces IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB | 24.92 | 28,44,254 | 7,08,75,864 | 2,884.65 |
| NII (HNI) | 23.68 | 21,33,190 | 5,05,06,848 | 2,055.63 |
| bNII (bids above ₹10L) | 28.21 | 14,22,126 | 4,01,12,460 | 1,632.58 |
| sNII (bids below ₹10L) | 14.62 | 7,11,063 | 1,03,94,388 | 423.05 |
| Retail | 3.69 | 49,77,442 | 1,83,80,880 | 748.10 |
| Total** | 13.92 | 1,00,56,237 | 14,00,18,436 | 5,698.75 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Smartworks Coworking Spaces IPO Anchor Allocation
| Anchor Bid Date | July 9, 2025 |
| Shares Offered | 42,66,378 |
| Anchor portion Size (In ₹ Cr.) | 173.64 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 13, 2025 |
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 744.07 | 1113.11 | 1409.67 |
| EBITDA | 424.00 | 659.67 | 857.26 |
| PAT | -101.05 | -49.96 | -63.18 |
| Particulars (in Rs. Crores)] | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 4473.50 | 4147.08 | 4650.85 |
| Share Capital | 77.69 | 79.01 | 103.19 |
| Total Borrowings | 515.39 | 427.35 | 397.77 |
| Particulars (in Rs. Crores | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 531.83 | 743.30 | 928.52 |
| Net Cash Generated From / (used in) investing activities | -306.63 | -192.16 | -276.08 |
| Net Cash Generated From / (used in) financing activities | -170.58 | -577.18 | -637.71 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 54.62 | -26.04 | 14.73 |
Strengths
1. Market leader with scale, strong brand, and steady growth across key Indian clusters.
2. Transforms large properties into tech-enabled, amenity-rich Smartworks campuses.
3. Focus on acquiring enterprise clients with higher seat requirements.
4. Strong execution backed by cost efficiency and tech-driven processes.
Weaknesses
1. Rising debt-to-equity ratio over the past three fiscal years.
2. Reliance on third-party vendors for key operational services.
3. Delays in fit-outs and landlord issues impact new centre openings.
4. Vulnerable to reputational risks from service or safety lapses.
Opportunities
1. Expanding demand for managed workspaces among Indian corporates and MNCs.
2. Potential to grow alongside mid-to-large emerging enterprises.
3. Rising preference for flexible, tech-enabled office spaces post-pandemic.
4. Untapped Tier-II and Tier-III markets offer further growth avenues.
Threats
1. Leveraged capital structure increases financial risk.
2. Persistent net losses due to lease-related accounting.
3. Expansion depends on timely landlord and contractor performance.
4. Rising interest rates could impact borrowing costs and profitability.
1. Smartworks is a market leader with 728+ enterprise clients and major leased office centres.
2. The company has shown strong revenue growth from ₹744 Cr in FY23 to ₹1,410 Cr in FY25.
3. India's flex-space sector is expanding rapidly, driven by hybrid work and Tier-II/III demand.
4. IPO funds will be used to reduce debt and support capital-efficient business expansion.
1. India’s flex‑space leasing surged 65% YoY in Q2 2025 to 4.3 million sq ft, with tech sector using 50%.
2. Flexible office supply across top six metros expected to reach 125 million sq ft by March 2027 from 80 million in Dec 2024 .
3. Market value hit USD 2.08 billion in 2025, projected USD 2.91 billion by 2030 (CAGR ~7%).
4. Growth propelled by hybrid work trends, startup boom, Tier‑2/3 expansion, and tech-based amenities .
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FAQs
Smartworks Coworking Spaces IPO opens from July 10, 2025 to July 14, 2025.
The size of Smartworks Coworking Spaces IPO is ₹582.56 Cr.
To apply for Smartworks Coworking Spaces IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Smartworks Coworking Spaces IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Smartworks Coworking Spaces IPO is 36 shares and the investment required is ₹13,932.
The share allotment date of Smartworks Coworking Spaces IPO is July 15, 2025.
The Smartworks Coworking Spaces IPO will likely be listed on July 17, 2025.
JM Financial Ltd. is the book running lead manager for Smartworks Coworking Spaces IPO.
Smartworks Coworking Spaces plans to utilise the raised capital from the IPO for:
- Awfis Space Solutions Limited
- Table Space Technologies Private Limited
- WeWork India Management Limited
Smartworks Coworking Spaces Contact Details
Smartworks Coworking Spaces Ltd.
Unit No. 305-310,
Plot No 9, 10 and 11, Vardhman Trade Centre,
Nehru Place, South Delhi,
Delhi, New Delhi, 110019
Phone: +91 83840 62876
Email: companysecretary@sworks.co.in
Website: https://www.smartworksoffice.com/home/
Smartworks Coworking Spaces IPO Register
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: smartwork.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Smartworks Coworking Spaces IPO Lead Manager
Jm Financial Limited
Bob Capital Markets Limited
IIFL Capital Services Limited
Kotak Mahindra Capital Company Limited