Smartworks Coworking Spaces IPO: 10 key points to consider before ₹583 crore offer opening

Smartworks Coworking Spaces IPO: The mainboard initial public offering of Smartworks Coworking Spaces will open for public subscription on Thursday, July 10. The price band has been set at ₹387 to ₹407 per share. The company's equity shares will hit the secondary market on July 17.

Smartworks Coworking Spaces IPO: 10 key points to know

1. Smartworks Coworking Spaces IPO subscription period: The initial share sale will be open from July 10 to July 14.
2. IPO offer structure: It 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.
3. Smartworks Coworking IPO price band: The price range of the offer is fixed at ₹387-₹407 per share.
4. Smartworks Coworking IPO lot size: A lot consists of 36 shares.
5. Objectives: The firm 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.
6. Book-running lead manager: JM Financial, BoB Capital Markets, Kotak Mahindra Capital and IIFL Capital Services are the issue's book-running lead managers.
7. Registrar: MUFG Intime India Private Limited (formerly Link Intime) is the registrar.
8. Allotment date: The basis of allotment of Smartworks Coworking Spaces IPO will likely be finalised on July 15.
9. Smartworks Coworking IPO listing date: The listing on the BSE and the NSE will occur on July 17.
10. Smartworks Coworking revenue and net loss: Revenue from operations increased 26.64% year-on-year (YoY) to ₹1,409.67 crore, and net loss stood at ₹63.18 crore in the financial year 2024-25.

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

As of March 2025, the firm has served 738 clients with 152,619 seats.