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Workmates Core2Cloud Solution IPO
140.57xsubscribed

Workmates Core2Cloud Solution IPO

IT - Software
listed
₹2.40LMin. investment

Workmates Core2Cloud Solution Limited IPO Details

SectorIT - Software
Price range₹200 – ₹204
IPO type
SME
Lot size600 shares
Issue size₹69Cr
Red Herring Prospectus
Read
Market cap
₹263.54CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹107.64CrLower than sector avg
Growth rate3Y CAGR
92.82%Higher than sector avg

Workmates Core2Cloud Solution IPO Subscription Status

Date
QIB
NII
Retail
Total
11-Nov-25
0.02 times (X)
3.6 times (X)
1.72 times (X)
1.63 times (X)
12-Nov-25
0.47X
13.27X
10.19X
8.47X
13-Nov-25
5.62X
194.73X
110.28X
140.57X

As on 11-Nov-25, 5:30 PM

Workmates Core2Cloud Solution IPO Timeline

  1. Pre-apply
    10 Nov 2025
  2. Bid start
    11 Nov 2025
  3. Bid end
    13 Nov 2025
  4. Allotment
    14 Nov 2025
  5. Release of funds
    17 Nov 2025
  6. Demat transfer
    17 Nov 2025
  7. Listing
    18 Nov 2025

About Workmates Core2Cloud Solution Limited

Incorporated in 2018, Workmates Core2 Cloud Solution is a cloud and digital transformation company dedicated to helping enterprises modernise, secure, and scale their digital core. It has now become a premier tier AWS partner and was recognised as AWS consulting partner of the year 2025. The company’s services include workload assessment, seamless migration, application modernisation, and end-to-end managed services. The company has wide range of customers from different verticals. Its largest segments include IT/ITES (37.4%) and FSI/BFSI (30.4%), which shows deep engagement with technology-driven and financially regulated industries where cloud adoption is both critical and complex. The company also serves Manufacturing (8.7%), E-commerce (6.1%), Media (4.5%), and a mix of other sectors (9.3%). Regionally, revenue was led by Telangana (22.8%), followed by Karnataka (12.9%) and Maharashtra (12.6%). Exports formed 2.85% of revenue, led by the US (2.25%) as of August 2025.

Checklist

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Revenue growth
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Objectives of Workmates Core2cloud Solution Limited IPO

Working capital
49.20%
The company will use up to ₹29.20 crore for funding working capital requirements.
General corporate purposes
36.30%
Part of the IPO proceeds will be used for general corporate purposes
Repayment of loans
14.40%
The company will use up to ₹8.60 crore towards repayment of outstanding secured loans.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹107.64Cr92.82%₹13.93Cr₹263.54Cr14.660.38
This sector (avg.)₹2,461.47Cr0.05%₹373.09Cr₹14,720.51Cr148.010.31
₹2,55,324Cr---₹48,797Cr₹11,30,254Cr23.690.10
₹1,62,990Cr---₹26,750Cr₹6,63,897.8Cr24.310.09
₹1,17,055Cr---₹17,399Cr₹4,58,746.3Cr27.940.09

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Workmates Core2Cloud Solution IPO Contact Details

Company NameWorkmates Core2Cloud Solution Limited

How to apply for Workmates Core2Cloud Solution IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Workmates Core2cloud Solution Limited IPO FAQs