Smartworks Coworking IPO Subscribed 13.92x on Final Day; QIB Portion Soars to 24.92x
By Shishta Dutta | Updated at: Jul 14, 2025 06:32 PM IST
New Delhi, July 14, 2025 — The ₹445.00 crore initial public offering (IPO) of Smartworks Coworking Spaces Limited subscribed 13.92 times with a strong demand from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) on the final day. There was also strong participation by the retail and employee categories.
Final Subscription Status (as of 5:00 PM, July 14)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| QIBs | 28,44,254 | 7,08,75,864 | 24.92 |
| NIIs | 21,33,190 | 5,05,06,848 | 23.68 |
| • Bids > ₹10 lakh | 14,22,126 | 4,01,12,460 | 28.21 |
| • Bids ₹2–10 lakh | 7,11,063 | 1,03,94,388 | 14.62 |
| Retail Individual Investors (RIIs) | 49,77,442 | 1,83,80,880 | 3.69 |
| Employees | 1,01,351 | 2,54,844 | 2.51 |
| Anchor Investors | 42,66,378 | 42,66,378 | 1.00 |
| Total | 1,00,56,237 | 14,00,18,436 | 13.92 |
Segment-Wise Highlights
- QIBs Steal the Show: The QIB portion was subscribed 24.92x, with demand led by mutual funds, domestic financial institutions, FIIs, and others.
- NII Frenzy: The NII category recorded 23.68x subscription, with high-value investors bidding over ₹10 lakh applying for over 4 crore shares.
- Retail Participation Strong: Retail Individual Investors (RIIs) bid for over 1.83 crore shares, pushing the retail portion to 3.69x. Cut-off bids accounted for 1.52 crore shares.
- Employee Quota: The reserved employee segment was subscribed 2.51x, with bids of 2.54 lakh against an offer of 1.01 lakh shares.
About Smartworks Coworking IPO
Smartworks’ IPO consisted of a fresh issue worth ₹445 crore and an Offer for Sale (OFS) of 33.79 lakh equity shares. The company set a price band of ₹387–₹407 per share, with a ₹37 discount for eligible employees.
The proceeds from the IPO will be utilised for:
- Fit-out capex in new centres
- Security deposits for new properties
- Partial repayment of borrowings
- General corporate purposes
Company Overview
Founded in 2015, Smartworks Coworking Spaces Limited is India’s largest managed office campus platform by area, with 8.99 million sq. ft. under lease across 15 cities. It offers tech-enabled, enterprise-grade workspaces focused on mid-to-large corporates. The company will list its shares on NSE and BSE, with NSE as the designated stock exchange.
With the issue receiving a blockbuster response, especially from QIBs and HNIs, all eyes now shift to allotment and listing performance. Stay tuned for allotment updates and listing date.
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