Smartworks Coworking IPO Day 2: Issue Subscribed 1.15x; Retail and NII Segments Lead the Charge

New Delhi, July 11, 2025 — The public issue of Smartworks Coworking Spaces Limited witnessed robust investor interest on the second day of bidding, closing the day with 1.20 times overall subscription, backed by strong participation from retail and high-net-worth investors. Institutional demand also picked up marginally, indicating a positive momentum heading into the final stretch of the IPO.

Day 2 Subscription Snapshot (as of 5:00 PM, July 11)

Investor Category	Shares Offered	Shares Bid For	Subscription (x)
Qualified Institutional Buyers (QIBs)	28,44,254	18,33,012	0.64
Non-Institutional Investors (NIIs)	21,33,190	39,75,948	1.86
• Bids > ₹10 lakh	14,22,126	28,71,252	2.02
• Bids ₹2–10 lakh	7,11,063	11,04,696	1.55
Retail Individual Investors (RIIs)	49,77,442	61,34,580	1.23
Employees	1,01,351	1,08,648	1.07
Total	1,00,56,237	1,20,52,188	1.20

IPO Timeline

• Issue Open: July 10, 2025
• Issue Close: July 14, 2025
• UPI Mandate Deadline: July 14, 2025, by 5:00 PM IST

Applicants using the UPI payment method must ensure their mandate status shows RC100 (amount blocked) to be considered valid under SEBI’s regulations.

About the IPO

The ₹445 crore IPO of Smartworks includes a fresh issue worth ₹582.56 crore and an Offer for Sale (OFS) of 0.34 crore shares. The price band is set at ₹387–₹407 per share, with a ₹37 discount offered to eligible employees.

Proceeds from the issue will be used for:

• Fit-out capital expenditure
• Security deposits for new centres
• Partial debt repayment

Company Overview

Founded in 2015, Smartworks Coworking Spaces Limited operates 8.99 million sq. ft. of managed office campuses across 15 Indian cities. The company focuses on enterprise clients, offering tech-enabled, full-stack workspace solutions in large-format leased campuses.

The equity shares are proposed to be listed on NSE and BSE, with NSE as the designated exchange.

With the IPO fully subscribed on Day 2 and rising QIB interest, all eyes are now on final-day institutional demand

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