Smartworks Coworking Spaces IPO
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Schedule of Smartworks Coworking Spaces
| Issue open date | 10 Jul 2025 |
| Issue close date | 14 Jul 2025 |
| UPI mandate deadline | 14 Jul 2025 (5 PM) |
| Allotment finalization | 15 Jul 2025 |
| Refund initiation | 16 Jul 2025 |
| Share credit | 16 Jul 2025 |
| Listing date | 17 Jul 2025 |
| Mandate end date | 29 Jul 2025 |
| Lock-in end date for anchor investors (50%) | 14 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 13 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Smartworks Coworking Spaces
Smartworks helps deliver customised workspace solutions designed to meet the specific needs of Corporates by providing modern coworking and managed office spaces, focused on creating dynamic, tech-enabled work environments for businesses of all sizes, especially mid-to-large enterprises. With a presence across major Indian cities, Smartworks transforms large, empty properties into fully equipped office campuses featuring amenities like cafeterias, gyms, crèches, medical rooms, and advanced tech infrastructure.
Financials of Smartworks Coworking Spaces
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹582.56 crores |
| Fresh Issue | ₹450 crores |
| Offer for sale | ₹137.56 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment/prepayment/redemption, in full or in part, of certain borrowings. | 114 (25.6%) |
| Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres. | 225.84 (50.7%) |
| General corporate purposes | – |
Strengths
- Ability to lease and develop large, amenity-rich campuses.
- Focus on high-ticket enterprise clients and growing mid-to-large businesses.
- Strong execution driven by cost efficiency, processes, and tech infrastructure.
- Capital efficiency through sound financial and strategic execution.
- Risk mitigation ensures a financially stable business model.
- Committed, experienced leadership and management team.
Risks
- High rental revenue concentration in key metro markets.
- Lease renewals and terms subject to landlord discretion.
- Client acquisition challenges may impact rental obligations.
- Pending ongoing legal proceedings can impact business operations.
- The company does not own its centres, and any title defects or legal non-compliance by landlords may affect operations and financials.
Subscription Figures for Smartworks Coworking Spaces
Subscription numbers as of 5:00 PM on 11 July 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 28.44 | 18.33 | 0.64x |
| NII | 21.33 | 39.75 | 1.86x |
| Retail | 49.77 | 61.34 | 1.23x |
| Employees | 1.01 | 1.08 | 1.07x |
| Total | 100.56 | 120.52 | 1.20x |