Smartworks Coworking IPO

Smartworks Coworking IPO: Check IPO Date, Live Subscription and Key Details

Smartworks Coworking Spaces Limited is an office experience and managed campus platform, and one of the largest managed campus operators in terms of total stock. The company offers fully serviced, tech-enabled office environments with modern designs and amenities such as cafeterias, sport zones, smart convenience stores, gyms, and medical centers. Smartworks focuses on mid-to-large enterprises, including Indian corporates, MNCs operating in India, and startups.

Min Investment
₹14652
Price Range
₹387.00-407.00
Issue Size
₹582.56 Cr
IPO Type
Mainboard

Key Metrics

Check Live GMP

Face Value
₹10
EPS
-5.54
P/E Ratio
0
RoNW
-58.76%
ROE
0%
Debt to Equity
2.9

Timeline

IPO Opens

10 Jul

IPO Closes

14 Jul

Allotment

15 Jul

Listing

17 Jul

IPO Objectives

  • Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company (₹114.00 Cr)
  • Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres (₹225.84 Cr)
  • General Corporate Purposes.

Strengths

  • Largest managed campus operator in India based on total stock, with a lease-signed portfolio of 8.99 million square feet across 50 centers and 15 cities as of March 31, 2025.
  • Ability to lease and transform entire/large properties into fully serviced, tech-enabled Smartworks campuses with amenities.
  • Focus on mid-to-large enterprises with higher seat requirements, leading to longer client lock-ins and stable revenue.
  • Strong execution capabilities backed by cost efficiencies and proprietary technology infrastructure (e.g., BuildX, CRM tools), enabling streamlined operations and faster delivery.
  • Experienced promoters and management team with deep industry knowledge, driving strategic diversification and growth.

Weaknesses

  • The company has reported net losses for the past three fiscal years, making its path to consistent profitability a key area for investor scrutiny.
  • Revenue concentration: Approximately 75% of revenue (FY25) is derived from centers in four regions (Pune, Bengaluru, Hyderabad, and Mumbai).
  • Significant dependence on the performance of the commercial real estate market in India; downturns in this sector could adversely impact business.
  • Lease renewal risks: A substantial portion of operations is conducted on leased premises, and inability to renew agreements on favorable terms could disrupt operations and increase costs.

Financial Performance

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)4650.854147.084473.5
Revenue (₹ Cr.)1409.671113.11744.07
PAT (₹ Cr.)-63.18-49.96-101.05
Net Worth (₹ Cr.)107.5150.0131.47

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Smartworks Coworking Spaces Limited38.580-58.76107.51
Awfis Space Solutions Limited9.963.189.38251

Subscription Details

Daily Bids Status

DateDay 1Day 2Day 3
QIB0.00x0.64x24.92x
NII1.04x1.86x23.64x
S-HNI0.64x1.55x14.50x
B-HNI1.24x2.02x28.21x
RII0.60x1.23x3.61x
EMP0.50x1.07x2.49x
Total0.52x1.20x13.88x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB28,44,2547,08,75,8642,884.65
NII21,33,1905,04,23,1842,052.22
Small NII7,11,0631,03,10,724419.65
Big NII14,22,1264,01,12,4601,632.58
RII49,77,4421,79,91,720732.26
EMP1,01,3512,52,82810.29
Total1,00,56,23713,95,43,5965,679.42

Company Details

Registrar Details