Smartworks Coworking Spaces share price: Stock lists at 7% premium on NSE; here's how much investors gained

Smartworks Coworking Spaces share price: Shares of offer space solutions provider Smartworks Coworking Spaces made their debut at ₹435 apiece on the National Stock Exchange (NSE). This reflects a premium of 6.88% over the IPO issue price of ₹407 per unit.

On the BSE (formerly Bombay Stock Exchange), the stock started trading at ₹436.1, up 7.15%.

Smartworks Coworking Spaces share price: Here's how much investors gained

The ₹582.56 crore initial public offer, with a price range of ₹387-₹407 per equity share, was a combination of fresh issuance shares valued at ₹445 crore and an offer for sale, or OFS, of ₹137.56 crore.

The funds generated will be utilised to repay debt, cover capital expenditure needs for fit-out in new centres and security deposits. A part will also be used for general corporate purposes.

The IPO was subscribed to 13.45 times, with bids for 13,99,09,320 shares compared to 1,04,01,828 shares on offer.

The qualified institutional buyers (QIBs) quota fetched 24.41 times the subscription as they applied for 7,08,75,864 shares as against 29,03,910 shares on offer.

The portion for non-institutional investors (NIIs) was subscribed to 22.78 times. They submitted bids for 5,05,06,848 compared to 22,17,233 shares reserved.

The retail individual investors part secured 3.53 times the subscription, as they applied to 1,82,71,764 shares compared to 51,73,543 shares offered.

It serves mid-to-large enterprises, including Indian corporates, multinational companies, and startups, providing modern campuses with design, technology, and amenities such as cafeterias, crèches, gyms, and medical centres to support employee well-being.

JM Financial Ltd, IIFL Capital Services Ltd, and BOB Capital Markets Ltd were the issue's book-running lead managers, while MUFG Intime India was the registrar.