Smartworks Coworking Spaces Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹387 - ₹407
- Lot size
- 36 shares
- Issue amount
- ₹582.56 cr
- Total subscription
- 13.46×
- Opens
- 10 Jul 2025
- Closes
- 14 Jul 2025
- Allotment
- 15 Jul 2025
- Listing
- 17 Jul 2025
Offer at a glance
Issue overview
- Issue size
- 1,43,13,401 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,932
- Fresh issue
- ₹445 cr
- Offer for sale
- ₹137.56 cr
- Registrar
- Link Intime India Private Ltd
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,652
- Issue type
- Bookbuilding IPO
- Shares before issue
- 10,31,89,592
- Shares after issue
- 11,41,23,252
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 36 | ₹14,652 |
| sHNI | 14 | 504 | ₹2,05,128 |
| bHNI | 69 | 2,484 | ₹10,10,988 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,38,262 | 5,07,549 |
| HNIs(10L +) | 2,822 | 79,588 |
| HNIs (2-10L) | 1,411 | 20,624 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 115.76 | 2,884.65 |
| RETAIL | 202.58 | 743.66 |
| HNIs 2+ | 28.94 | 423.05 |
| HNIs 10+ | 57.88 | 1,632.58 |
| EMPLOYEES | 4.12 | 10.37 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | -6.18 | -5.18 | -10.57 |
| ROE | 0 | 0 | 0 |
| ROCE | 42.3 | 28.12 | 11.9 |
| RONW | -58.76 | -99.9 | -321.13 |
| PRE IPO(PE) | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in 2015, the company offers customized, fully serviced, and technology-enabled managed office spaces tailored for mid-to-large enterprises, multinational corporations, startups, and Indian corporates. As of March 31, 2024, it has expanded to a leased area of 8 million square feet, catering to 618 clients with a total of 149,660 seats, out of which 8,691 remain unoccupied. One of its key assets includes the Vaishnavi Tech Park in Bengaluru, which spans 0.7 million square feet. The company employs 651 permanent staff members. Its business model revolves around multiple stakeholders. For clients, it delivers customizable workspaces equipped with advanced technology and wellness amenities. For landlords, it transforms their properties into Smartworks campuses, providing long-term lease or rental stability. For employees of client companies, the focus is on wellness-centric work environments that feature cafeterias, gyms, crèches, and medical centers. Additionally, the company enhances its value proposition through service partnerships with well-known brands such as Chaipoint and ClearTax.
Strengths
- Market Leadership & Scale: One of the largest managed workspace providers with 8 million sq. ft. under management
- Campus Transformation Capability: Skilled in converting large properties into branded, amenity-rich Smartworks campuses
- Enterprise-Focused Growth: Strong demand from large and mid-sized enterprises ensures long-term scalability
Risk factors
- Geographical Concentration: Over 80% of rental revenue comes from just four cities, increasing regional risk
- Client Dependence: Heavily reliant on large clients needing 300+ seats, making cash flow vulnerable if they exit
- Location & Lease Risk: Growth depends on getting the right properties at good terms—failure can affect profitability
Promoters
Neetish Sarda
Harsh Binani
Saumya Binani
NS Niketan LLP
SNS Infrareality LLP
Aryadeep Realstates Private Limited
Registrar & documents
Lead manager
Bob Capital Markets Limited, IIFL Capital Services Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited
Registrar & contacts
Link Intime India Private Ltd
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Unit No. 305-310, Plot No 9, 10 and 11, Vardhman Trade Centre, Nehru Place, South Delhi, Delhi, New Delhi, 110019
+91 83840 62876
[email protected]Understanding SMARTWORKS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.