Smartworks Coworking Spaces' ₹583 crore IPO to open on July 10: From price band to lot size, key things to know

Smartworks Coworking Spaces IPO: The initial share sale of Smartworks Coworking Spaces Ltd will be open from July 10 to July 14. The price band has been fixed at ₹387 to ₹407 per share.

The bidding for anchor investors would take place on July 9.

The company has decreased its IPO size. The fresh issue component has been cut to ₹445 crore from ₹550 crore earlier, while the offer for sale (OFS) has been reduced from 67.59 lakh shares to 33.79 lakh shares.

The money raised to the tune of ₹226 crore will be utilised for capital expenditure requirements related to the fit-outs in new centres and security deposits for these new centres, ₹114 crore for debt repayment, and general corporate purposes.

Smartworks Coworking Spaces IPO: Lot size

A lot consists of 36 equity shares.

Smartworks Coworking IPO key dates: Allotment and listing date

Smartworks Coworking IPO allotment status is likely to be finalised on July 15, while the listing on the BSE and the NSE will take place on July 17.

Smartworks Coworking Spaces is a leading platform for office experiences and managed campuses, specialising in leasing large properties in prime spots and modifying them into fully serviced, technology-enabled campuses with the latest amenities.

These campuses come with cafeterias, gyms, sports zones, medical centres, etc. It focuses on mid-to-large firms that need more than 300 seats in cities like Mumbai Metropolitan Region, Bengaluru, Hyderabad, Chennai and Gurugram.

Between the financial year 2022-23 (FY23) and FY25, the company expanded its operations by adding 2.83 million square feet of space under management, translating to a CAGR (compound annual growth rate) of 20.80%.

BOB Capital Markets Ltd, JM Financial Ltd, Kotak Mahindra Capital Company Ltd, and IIFL Securities Ltd are managing the company's IPO process. MUFG Intime India is the registrar.