Smartworks Coworking IPO: Issue sees over 13x subscription on last day; here's how to check allotment

According to NSE data till 5 PM, the issue was subscribed 13.45 times, with total bids received for 19,017,216 shares against the offered 10,401,828 shares.

The portion reserved for the non-institutional investors (NIIs) was subscribed 22.78 times, while the retail investors' and qualified institutional buyers' (QIBs') portions were subscribed 3.53 times and 24.41 times, respectively.

The IPO is a mix of a fresh issuance of ₹445 crore and an offer for the sale of 0.34 crore shares aggregating to ₹137.56 crore. The total issue size is ₹582.56 crore.

The company is seeking to raise ₹582.56 crore via a fresh issuance of shares valued at ₹445 crore as well as an offer for sale (OFS) of ₹137.56 crore.

The money generated will be used for capital expenditure requirements towards fit-outs in new centres and security deposits, reducing debt, and general corporate purposes. The OFS proceeds will go to promoters.

Ahead of its IPO, Smartworks had mobilised ₹173.64 crore from anchor investors, including Tata Mutual Fund, Trust Mutual Fund, Baroda BNP Paribas, Axis New Opportunities AIF - Series II, Aditya Birla Sun Life Insurance Company Ltd., SBI General Insurance Company Ltd., Societe Generale, and Buoyant Opportunities Strategy II, among others.

The firm allocated 4,266,378 shares to anchor investors at ₹407 per share.

Smartworks will utilise ₹226 crore for capital expenditure needs, ₹114 crore for loan repayments, and the remaining funds for general corporate purposes. Under the OFS, NS Niketan LLP, SNS Infrarealty LLP, and Space Solutions India Pte Ltd (formerly Lisbrine Pte Limited) will sell their stake.

The company takes office spaces on lease from landlords and then subleases them to corporates. It focuses on mid-to-large enterprises, which include Indian corporates and multinational companies (MNCs).

• Chose ‘Equity & SME IPO bid details’

• Select Smartworks Coworking from the list of IPO names

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

• Select ‘Smartworks Coworking’ as the issue type.

• From the dropdown menu, select ‘Smartworks Coworking.’ Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.