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Smartworks Coworking Spaces IPO

  • Status: Closed
  • RHP:
  • ₹ 13,932 / 36 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    17 Jul 2025

  • Listing Price

    ₹436.10

  • Listing Change

    7.15%

  • Last Traded Price

    ₹450.75

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

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Smartworks Coworking Spaces IPO Subscription Status

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

Profit and Loss

Balance Sheet

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