Smartworks IPO: Subscription details
Smartworks Coworking Spaces, a customised managed workspace solutions provider, launched its ₹582.56 crore Initial Public Offering (IPO) on July 10, 2025. The issue will remain open until July 14, 2025.
Subscription Breakdown by Investor Category
The IPO received bids for 52.21 lakh equity shares against the total offering of 1.04 crore shares, achieving a 50% subscription rate according to NSE data. Non-Institutional Investors (NIIs) subscribed to 100% of their allocated quota. Retail investors subscribed to 57% of their reserved shares. Qualified Institutional Buyers (QIBs) bid for 5,220 shares against 29.04 lakh shares reserved for the category.
IPO Structure and Investment Details
The public offering comprises a fresh issue of 1.09 crore equity shares worth ₹445 crore and an Offer For Sale (OFS) of 34 lakh shares valued at ₹137.56 crore. The price band is set between ₹387-407 per share. The minimum application size is 36 shares, requiring an investment of ₹14,652.
Fund Utilisation
The company will use IPO proceeds for repayment, prepayment, or redemption of borrowings, capital expenditure for fit-outs in new centres, security deposits at new centres, and general corporate purposes.
About the business
Smartworks provides customised workspace solutions for corporates through modern coworking and managed office spaces. The company operates across major Indian cities, transforming properties into office campuses with amenities including cafeterias, gyms, crèches, medical rooms, and tech infrastructure.
IPO Timeline and Listing Information
The IPO closes on July 14, 2025, with UPI mandate deadline at 5 PM on the same date. Share allotment finalisation is scheduled for July 15, refund initiation and share crediting on July 16, and listing on July 17, 2025. Anchor investors face lock-in periods with 50% shares locked until August 14, 2025, and remaining shares until October 13, 2025.
