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Workmates Core2cloud Solution Ltd

Workmates Core2cloud Solution Ltd IPO

  • Status: Closed
  • RHP:
  • ₹ 240,000 / 1200 shares

    Minimum Investment

Workmates Core2cloud Solution Ltd IPO Details

  • Open Date

    11 Nov 2025

  • Close Date

    13 Nov 2025

  • Listing Date

    18 Nov 2025

  • IPO Price Range

    ₹ 200 to ₹204

  • IPO Size

    ₹ 69.84 Cr

  • Listing Exchange

    BSE SME

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Workmates Core2cloud Solution Ltd IPO Timeline

Workmates Core2cloud Solution Ltd IPO Subscription Status

Last Updated: 13 November 2025 6:06 PM by 5paisa

Workmates Core2Cloud Solution Limited, incorporated on November 14, 2018, transformed from a private to a public limited company in early 2025. As a Premier Tier AWS Partner, it specialises in cloud and digital transformation, helping enterprises modernise, secure, and scale their digital infrastructure. Workmates offers comprehensive cloud services including migration, application modernisation, and managed services, collaborating strategically with Amazon Web Services. Recognised as AWS Consulting Partner of the Year 2025, it is known for technical excellence, innovation, and customer satisfaction. The company focuses on empowering businesses through reliable, innovative cloud and AI-driven solutions with precision and integrity.
Established in: 2018
Managing Director: Basanta Kumar Rana, Debasish Sarkar
 

Workmates Core2cloud Solution Ltd Objectives

•    Prepayment or repayment of secured loan availed by our Company from Banks / Financial Institutions
•    Funding of Working Capital requirements of our company Up to 4,000.00
•    General corporate purpose

Workmates Core2cloud Solution IPO Size

Types Size
Total IPO Size ₹69.84 Cr 
Offer For Sale ₹10.50 Cr
Fresh Issue ₹55.84 Cr 

Workmates Core2cloud Solution IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 1,200  ₹2,40,000 
Retail (Max) 2 1,200  ₹2,44,800 
S - HNI(Min) 3 1,800  ₹3,60,000 
S - HNI(Max) 8 4,800  ₹3,67,200 

Workmates Core2cloud Solution Reservation

Investors Category Subscription (times) Shares Offered* Shares bid for Total Amount (Cr.)*
QIB (Ex Anchor) 147.03     6,62,400     9,73,93,200    1,986.82    
Non-Institutional Buyers*** 202.96     4,89,600 9,93,69,600    2,027.14
bNII (bids above ₹10L) 244.88     3,26,400 7,99,30,200    1,630.58    
sNII (bids below ₹10L) 119.11     1,63,200 1,94,39,400    396.56    
Individual Investors (IND category bidding for 2 Lots) 111.64     11,40,000 12,72,72,000   2,596.35    
Total ** 141.38     22,92,000 32,40,34,800   6,610.31

*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.
***NII category includes both bNII and sNII investors.

Profit and Loss

Balance Sheet

Particulars (In ₹Crores.) FY24 FY23 FY22
Revenue (₹ Crores) 53.22 28.95 12.80
EBITDA (₹ Crores) 7.69 2.70 1.74
PAT (₹ Crores) 5.34 1.85 1.24
Particulars (In ₹Crores.) FY24 FY23 FY22
Total Assets (₹ Crores) 24.57 11.13 4.75
Equity Share Capital (₹ Crores) 0.01 0.01 0.01
Total Borrowings (₹ Crores) 24.57 11.13 4.75
Particulars (In ₹Crores.) FY24 FY23 FY22
Operating Activities (₹ Crores) -9.57 2.35 1.89
Investing Activities (₹ Crores) 3.91 0.18 0.38
Financing Activities (₹ Crores) - - -
Net Increase/Decrease in Cash (₹ Crores) 5.65 2.17 1.51


Strengths

•    Premier Tier AWS Partner with global recognition.
•    Comprehensive cloud and AI-focused solutions.
•    Awarded AWS Consulting Partner of the Year 2025.
•    Strong, passionate leadership and bootstrapped growth.

Weaknesses

•    No prior public market presence or trading history.
•    Reliance on AWS and key OEM partnerships.
•    Relatively smaller scale compared to large cloud providers.
•    Limited track record as a public company.

Opportunities

•    Rising demand for cloud and digital transformation services.
•    Expansion potential in Generative AI and next-gen tech.
•    Market segments in healthcare, finance, manufacturing, and media.
•    Growth via integrating emerging cloud technologies.

Threats

•    Intense competition from global and niche players.
•    Rapid tech changes requiring continuous upgrades.
•    Economic uncertainty affecting enterprise IT spending.
•    Regulatory and compliance risks in cloud services.

•    Premier AWS Partner with deep cloud and AI expertise.
•    Strong revenue and profit growth with scalable business.
•    Robust financial metrics including high ROE and low debt.
•    Positioned to capitalise on India’s expanding digital transformation market.

Workmates Core2Cloud Solution IPO taps into the fast-growing cloud and digital transformation market, driven by India’s expanding IT sector and rising AI adoption. With its Premier AWS Partner status, the company targets end-to-end cloud services, positioning for growth in India and ASEAN regions. The IPO funding supports loan repayment, working capital, and expansion initiatives, aiming for scalable, AI-enabled digital innovation.

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FAQs

Workmates Core2Cloud Solution IPO opens from November 11, 2025 to November 13, 2025.

The size of Workmates Core2Cloud Solution IPO is ₹69.84 Cr.

The price band of Workmates Core2Cloud Solution IPO is fixed at ₹200 to ₹204 per share.

To apply for Workmates Core2Cloud Solution IPO, follow the steps given below:

●    Login to your 5paisa demat 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 Workmates Core2Cloud Solution 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 Workmates Core2Cloud Solution IPO is of 1,200 shares and the investment required is ₹2,44,800.

The share allotment date of Workmates Core2Cloud Solution IPO is November 14, 2025

The Workmates Core2Cloud Solution IPO will likely be listed on November 18, 2025.

The book running lead manager for Workmates Core2Cloud Solution IPO is Horizon Management Private Ltd.

Workmates Core2Cloud Solution IPO plans to utilise the raised capital from the IPO for:

•    Prepayment or repayment of secured loan availed by our Company from Banks /Financial Institutions
•    Funding of Working Capital requirements of our company Up to 4,000.00
•    General corporate purpose