Smartworks Coworking Spaces IPO opens for subscription; check price band, lot size, key dates and financials

Smartworks Coworking Spaces IPO opened for subscription on Thursday, July 10. The initial public offering will end on July 14. The price band has been fixed at ₹387 to ₹407 per share.

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.

On Wednesday, the company 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 42,66,378 shares to anchor investors at ₹407 per share.

Smartworks Coworking Spaces IPO lot size

A lot consists of 36 shares.

Half of the net offer has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and the rest 15% for non-institutional investors.

Smartworks Coworking Spaces IPO allotment and listing date

Smartworks Coworking Spaces IPO allotment status is likely to be finalised on July 15, while the listing of shares on the NSE and the BSE will occur on July 17.

Smartworks sub-leases office spaces to corporates in major cities like Mumbai, Pune, Bengaluru, Gurugram, Hyderabad, Chennai and Noida. Its key clients include L&T Technology Services, Google IT Services India Pvt Ltd, Philips Global Business Services LLP, and Bridgestone India Pvt Ltd, among others.

On the financial front, the company recorded a net loss of ₹63.17 crore in the financial year 2024-25 due to higher expenses than income. Its net loss in FY24 was ₹49.95 crore.

The revenue from operations stood at ₹1,374.05 crore in FY25, up from ₹1,039.36 crore a year back.

"These losses were on account of our total income being lower than the expenses for the relevant fiscal," Smartworks said in its red herring prospectus (RHP) filed with market regulator SEBI.

Smartworks Coworking Spaces IPO GMP