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.
Price Range
₹387.00-407.00
Issue Size
₹582.56 Cr
Lot Size
36 shares
IPO Type
Mainboard
GMP
₹25(+6.14%)
Est. Listing Price
₹432
Estimate Profit
₹900
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
-5.54
P/E Ratio
0
RoNW
-58.76%
ROE
0%
Debt to Equity
2.9
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Timeline
IPO Opens
10 Jul
IPO Closes
14 Jul
Allotment
15 Jul
Listing
17 Jul
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 10 July 2025 | Subscription starts |
| IPO Close Date | 14 July 2025 | Subscription ends |
| Allotment Date | 15 July 2025 | Allotment |
| Listing Date | 17 July 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,652 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,90,476 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,05,128 |
SHNI (Max)Below ₹10,00,000 | 68 | ₹9,96,336 |
BHNIAbove ₹10,00,000 | 69 | ₹10,10,988 |
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.
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Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 4,650.85 | 4,147.08 | 4,473.5 |
| Revenue (₹ Cr.) | 1,409.67 | 1,113.11 | 744.07 |
| PAT (₹ Cr.) | -63.18 | -49.96 | -101.05 |
| Net Worth (₹ Cr.) | 107.51 | 50.01 | 31.47 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Smartworks Coworking Spaces Limited | 38.58 | 0 | -58.76% | 107.51 |
| Awfis Space Solutions Limited | 9.9 | 63.18 | 9.38% | 251 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0x | 0.64x | 24.92x |
| NII | 1.04x | 1.86x | 23.64x |
| S-HNI | 0.64x | 1.55x | 14.5x |
| B-HNI | 1.24x | 2.02x | 28.21x |
| RII | 0.6x | 1.23x | 3.61x |
| EMP | 0.5x | 1.07x | 2.49x |
| Total | 0.52x | 1.2x | 13.88x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 28,44,254 | 7,08,75,864 | 2,884.65 |
| NII | 21,33,190 | 5,04,23,184 | 2,052.22 |
| Small NII | 7,11,063 | 1,03,10,724 | 419.65 |
| Big NII | 14,22,126 | 4,01,12,460 | 1,632.58 |
| RII | 49,77,442 | 1,79,91,720 | 732.26 |
| EMP | 1,01,351 | 2,52,828 | 10.29 |
| Total | 1,00,56,237 | 13,95,43,596 | 5,679.42 |
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Company Details
- Smartworks Coworking Spaces Ltd.
- Unit No. 305-310, Plot No 9, 10 and 11, Vardhman Trade Centre, Nehru Place, Delhi, New Delhi-110019, India
- +91 83840 62876
- companysecretary@sworks.co.in
- https://www.smartworksoffice.com/home/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- smartwork.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html
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