Advertisement
Smartworks Coworking Spaces will launch its INR 583 crore IPO on July 10, with a price band of INR 387-407 per share. The IPO closes on July 14, with anchor bidding on July 9. The fresh issue has been trimmed to INR 445 crore and the offer for sale reduced to 33.79 lakh shares. Proceeds will fund fit-outs, security deposits, loan repayments, and general corporate needs. Specialising in large, tech-enabled office campuses, Smartworks serves mid-to-large companies across cities like Bengaluru, Gurugram, and Mumbai. From FY23 to FY25, it added 2.83 million sq ft of space and recorded 38.98% CAGR in revenue. JM Financial and others are managing the offering.
Smartworks Coworking Spaces is set to launch its initial share sale for public subscription on July 10. The company has fixed a price band of Rs 387-407 per share for its Rs 583 crore Initial Public Offering (IPO). The initial public offering (IPO) will conclude on July 14, and the bidding for anchor investors is scheduled to open for a day on July 9, according to the red herring prospectus (RHP). Advertisement
The company has revised its IPO size downward. The fresh issue has been reduced to Rs 445 crore from the earlier planned Rs 550 crore, while the offer for sale (OFS) has been cut to 33.79 lakh shares from 67.59 lakh shares. Rs 226 crore from the total proceeds will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs 114 crore will be allocated for the payment of loans, and the remaining funds will be utilised for general corporate purposes.
Smartworks Coworking Spaces Ltd is a leading platform for office experiences and managed campuses.It specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern amenities. These campuses include cafeterias, sports zones, gyms, medical centres, and more, offering a modern and attractive work environment. The company caters to businesses of all sizes, with a focus on mid-to-large companies that need over 300 seats. The company is concentrated in various cities, including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and Chennai.
Between FY23 and FY25, Smartworks expanded its operations by adding 2.83 million sq ft of space under management, achieving a CAGR (compound annual growth rate) of 20.80 per cent. Its strong pan-India presence, competitive pricing, and ability to lease entire or large properties make it a preferred partner for mid-to-large enterprises. This is reflected in the 20.80 per cent CAGR in space managed and a 38.98 per cent CAGR in revenue from operations during the same period.
JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd and Kotak Mahindra Capital Company Ltd are managing the company's IPO process.
Source: PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
