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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Smartworks Coworking Spaces Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹407
Per ShareLot Size
36 Shares
Minimum Investment
₹14,652
Issue Size
₹582.56 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
65.19%
Promoter Holding (Post-Issue)
58.25%
Issue Type
Book Building
ISIN
INE0NAZ01010
The Company is an office experience and managed campus platform. As of March 31, 2024, the company was the largest managed campus operator, amongst the benchmarked operators in terms of total stock, with a lease signed portfolio of 8.0 million square feet. The Company has leased, and it manages a total super built-up area of 8.99 million square feet as of March 31, 2025. The Company typically focuses on leasing entire/ large, bare shell properties in prime locations from Landlords and transform them into fully serviced, aesthetically pleasing and tech-enabled Campuses with daily-life and aspirational amenities. The Company equips its Campuses with modern and aesthetically pleasing designs using its extensive design library, integrated proprietary technology solutions and amenities such as cafeterias, sport zones, Smart Convenience Stores, gymnasiums, crèches and medical centres. Its Centres offer Clients' employees a modern, attractive and aesthetically pleasing work environment. The Company caters to the Clients' needs of all team sizes, from under 50 to over 6,300 Seats, with a specific focus on mid-to-large Enterprises having a requirement of over 300 Seats.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 14,321,474 equity shares of face value of Rs. 10 each ("Equity Shares") of Smartworks Coworking Spaces Limited ("Company") for cash at a price of Rs. 407 per equity share (including a premium of Rs. 397 per equity share) ("Offer Price") aggregating to Rs. 582.56 crores^ (the "Offer") comprising a fresh issue of 10,941,734 equity shares of face value of Rs. 10 each aggregating to Rs. 445.00 crores (the "Fresh Issue") and an offer for sale of 3,379,740 equity shares of face value of Rs. 10 each aggregating to Rs. 137.56 crores (the "Offer for Sale"), consisting of an offer for sale of 490,000 equity shares of face value of Rs. 10 each aggregating to Rs. 19.94 crores by NS Niketan llp, 310,000 equity shares of face value of Rs. 10 each aggregating to Rs. 12.62 crores by SNS Infrarealty LLP and 2,579,740 equity shares of face value of Rs. 10 each aggregating to Rs. 105.00 crores by Space Solutions India Pte. Ltd. (formerly Lisbrine Pte Limited) (collectively, the "Selling Shareholders" and such equity shares, the "Offered Shares"). The offer included a reservation of 101,351 equity shares aggregating up to Rs. 3.75 crores^, for subscription by eligible employees (as defined hereinafter) (the "Employee Reservation Portion"). Pursuant to finalization of basis of allotment 88,812 equity shares were allotted to under the employee reservation portion. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 12.55% and 12.47% of its post offer paid-up equity share capital, respectively. The company, in consultation with the book running lead managers, offered a discount of up to 9.09% (equivalent of Rs.37 per equity share) to the offer price to eligible employees bidding under the employee reservation portion ("Employee Discount"). ^ A discount of Rs.37 per equity share was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
India's commercial office1 stock stands at an estimated 883 million square feet as at March 31, 2025. It is forecasted to grow at a CAGR of 6.7% to 1,072 million square feet by the end of 2027 (Basis the graph in "Industry Overview- Evolution of Office Stock in India" on page 201). Flexible workspace solutions are becoming an integral part of the modern work culture, catering to diverse working styles and introducing flexibility to the commercial office market. The total flexible workspace stock ranging between 82 - 86 million square feet by the end of CY2024, is forecasted to grow to approximately 140 - 144 million square feet across Tier 1 cities by end of CY2027 with a CAGR of approximately 18 - 20%. The total addressable market ("TAM") for the flexible workspace operators represents a sizeable opportunity of 280 - 300 million square feet (in terms of area) and Rs.730 - 960 Bn* (in terms of value) by 2027.
Smartworks Coworking Spaces Limited was originally incorporated as "Smart Work Business Centre Private Limited" at Kolkata as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 17, 2015, issued by the Registrar of Companies, West Bengal at Kolkata. Pursuant to a special resolution dated October 29, 2018 passed by the Shareholders, the name of the Company was changed from "Smart Work Business Centre Private Limited" to "Smartworks Coworking Spaces Private Limited" to reflect the nature of business and activities of the Company and a fresh certificate of incorporation dated December 20, 2018, was issued by the RoC. Thereafter, the Company was converted into a public limited company pursuant to a special resolution dated June 28, 2024, passed in the extraordinary general meeting of the Shareholders, and consequently the name of the Company was changed to its present name i.e., "Smartworks Coworking Spaces Limited" and a fresh certificate of incorporation dated July 25, 2024.
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.