Smartworks Coworking IPO Opens Today with ₹582.56 Crore Offer: Here’s What You Need to Know

Mumbai, 10 July 2025: Smartworks Coworking Spaces Limited has officially launched its Initial Public Offering (IPO) today, opening the gates for investors to participate in a ₹582.56 crore public issue. The IPO, structured as a mix of fresh equity and an offer for sale, will remain open for bidding until 14 July 2025. The company, known for its tech-enabled, managed workspaces, is now aiming to expand its footprint with the capital raised.

Public Issue Worth ₹582.56 Crores Launched to Fuel Business Growth

Smartworks’ IPO comprises a fresh issue of 1.09 crore equity shares amounting to ₹445.00 crores, alongside an offer for sale (OFS) of 0.34 crore shares worth ₹137.56 crores.

• IPO subscription window: 10 July to 14 July 2025
• Tentative allotment date: 15 July 2025
• Expected listing: 17 July 2025 on BSE and NSE

Price Band and Investment Lot Structure 

The price band for the IPO has been set between ₹387 and ₹407 per equity share. For retail investors, the minimum investment requires a single lot of 36 shares, which amounts to ₹13,932. For High Net-worth Individuals (HNIs), the structure is tiered:

• sNII (Small NII): 14 lots (504 shares) — ₹2,05,128
• bNII (Big NII): 69 lots (2,484 shares) — ₹10,10,988

A special discount of ₹37 per share has been offered to eligible employees.

Anchor Investors Infuse ₹173.64 Crores

On 9 July 2025, Smartworks secured ₹173.64 crores through its anchor book. A total of 42,66,378 shares were allocated to anchor investors ahead of the IPO opening, indicating robust institutional interest.

• 50% of these shares will be under lock-in until 14 August 2025
• Remaining 50% will be locked-in until 13 October 2025

Investor Reservation Ensures Wide Participation Across Segments

Smartworks has structured its IPO to cater to diverse investor groups. Allocation is as follows:

• Qualified Institutional Buyers (QIBs): Up to 50%
• Retail Individual Investors (RIIs): Up to 35%
• Non-Institutional Investors (NIIs): Up to 15%

The application limits are clearly defined to ensure fair access:

• Retail: Up to ₹2 lakhs (cut-off bidding allowed)
• sNII: ₹2 lakhs to ₹10 lakhs (cut-off bidding not allowed)
• bNII: Above ₹10 lakhs (cut-off bidding not allowed)
• Employees: Up to ₹5 lakhs (eligible for discount and cut-off bidding)

Tentative Schedule Offers Clarity on Refunds, Credit, and Listing

Smartworks has released a well-defined timeline for its IPO process:

• Bidding Ends: 14 July 2025
• Allotment Finalisation: 15 July 2025
• Refund Initiation & Credit to Demat: 16 July 2025
• Listing Date: 17 July 2025
• UPI Cut-off Time: 5 PM on 14 July 2025

IPO Promoters and Pre/Post Issue Shareholding Figures Disclosed

Promoters of Smartworks include Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP, and Aryadeep Realstates Pvt. Ltd.

• Pre-issue shareholding: 65.19%
• Post-issue shareholding: 58.25%

A Rapidly Growing Office Solutions Company with a Strong Enterprise Client Base

Founded in 2015, Smartworks Coworking Spaces Limited focuses on providing fully serviced, tech-enabled office spaces for large enterprises, MNCs, Indian corporates, and startups. Their managed workspaces are designed to promote employee well-being through modern amenities such as cafeterias, gyms, crèches, and medical centres.

Strategic Ecosystem Backed by Strong Business Model

Smartworks has created a collaborative ecosystem involving four major stakeholders:

• Clients: Offers customisable, tech-led, cost-efficient solutions
• Landlords: Transforms spaces into managed campuses with rental assurance
• Employees: Enhances work environments through premium on-site facilities
• Service Partners: Includes brands like Chaipoint and ClearTax for added services

Proceeds Will Be Utilised for Strategic Expansion and Debt Reduction

The company plans to channel the IPO proceeds towards the following objectives:

• ₹114 crore for partial/full repayment or redemption of existing borrowings
• ₹225.84 crore for capital expenditure related to new centre fit-outs and security deposits
• Remaining funds for general corporate purposes

Smartworks Coworking Spaces’ IPO launch comes at a time when demand for flexible, enterprise-grade workspace solutions is on the rise. With strong backing from anchor investors, clear use-of-proceeds, and a growth-centric business model, the public issue presents an opportunity for investors keen on tapping into India’s evolving office infrastructure landscape.

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