Workmates Core2Cloud IPO
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Workmates Core2Cloud IPO details
Schedule of Workmates Core2Cloud
| Issue open date | 11 Nov 2025 |
| Issue close date | 13 Nov 2025 |
| UPI mandate deadline | 13 Nov 2025 (5 PM) |
| Allotment finalization | 14 Nov 2025 |
| Refund initiation | 17 Nov 2025 |
| Share credit | 17 Nov 2025 |
| Listing date | 18 Nov 2025 |
| Mandate end date | 28 Nov 2025 |
| Lock-in end date for anchor investors (50%) | 14 Dec 2025 |
| Lock-in end date for anchor investors (remaining) | 12 Feb 2026 |
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 Workmates Core2Cloud
Workmates Core2Cloud Solution Limited was incorporated in 2018 and has rapidly grown into a trusted cloud and digital transformation partner for enterprises across India. In just six years, the company has evolved from a bootstrapped startup to an AWS Premier Tier Services Partner, a distinction held by only a select few globally. Headquartered in West Bengal and led by a visionary founding team, Workmates focuses on cloud modernisation, managed services, cybersecurity integrations, and AI-led solutions.
The company delivers end-to-end cloud services, from workload assessment and seamless migration to application modernisation and ongoing managed support. With seven AWS Competencies and deep expertise in industries like IT/ITES, BFSI, manufacturing, and e-commerce, Workmates helps clients unlock efficiency, scale securely, and drive innovation with cloud-native and generative AI solutions. Its strength lies in combining AWS capabilities with leading third-party tools to offer secure, scalable, and industry-specific cloud strategies.
Financials of Workmates Core2Cloud
Issue size
| Category | Funds Raised (₹ crores) |
| Total issue size | 69.84 |
| Fresh Issue – Proceeds go to the company | 55.84 |
| Offer for sale – Proceeds go to the existing investors | 10.50 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Prepayment or repayment of secured loan | 8.60 (15.4%) |
| Funding of working capital requirements | 29.20 (52.3%) |
| General corporate purposes | 18.04 (32.3%) |
Strengths
- Leading provider of integrated facility management and staffing services.
- Experienced promoters with over 20 years in workforce and facilities solutions.
- Pan-India presence serving 300+ clients across diverse sectors.
- Asset-light business model enabling scalable operations and low capex.
- Strong employee training systems ensuring service quality and client retention.
Risks
- High reliance on contract-based workforce exposes company to attrition risks.
- Delayed payments from clients could strain working capital.
- Regulatory changes in labour laws may impact margins and compliance.
- Dependence on a few large clients for significant portion of revenue.
- Competitive industry with pricing pressure from large and regional players.
Allotment Status for Workmates Core2Cloud
To check your IPO allotment status:
- Visit the MUFG Intime India IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.