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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Workmates Core2cloud Solution 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
₹204
Per ShareLot Size
600 Shares
Minimum Investment
₹1,22,400
Issue Size
₹69.84 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
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)
98.1%
Promoter Holding (Post-Issue)
72.03%
Issue Type
Book Building - SME
ISIN
INE1I1301016
Workmates is a cloud and digital transformation company, dedicated to helping enterprises modernize, secure, and scale their digital core. In just six years, we have grown from a startup to a Premier Tier AWS Partner a distinction recognised for only a select group globally by AWS. This status reflects our deep technical expertise, proven customer success, and our ability to deliver complex cloud projects at scale. Completely bootstrapped and built with unwavering passion and grit, Workmates is led by a dynamic and visionary team of co-founders and professionals who have successfully steered the company to date. We were recently recognized as the AWS Consulting Partner of the Year 2025, a testament to our excellence in delivery, innovation, and customer satisfaction.
The Cloud Computing Market size is estimated to reach USD 0.79 trillion in 2025, and is expected to reach USD 1.69 trillion by 2030, at a CAGR of 16.4% during the forecast period (2025-2030). The increasing global demand for cloud computing is driven by emerging technologies such as big data, artificial intelligence (AI), and machine learning (ML). The growing focus on customer-centric applications to enhance consumer satisfaction also contributes to these technologies' rise. Cloud-based infrastructure provides flexible and on-demand resource access, supporting new digital business solutions. This technology is beneficial for enterprise resource planning (ERP), online transaction processing (OLTP), and supply chain management (SCM) across various sectors. As of FY23, the IT industry contributed 7.5% to India's GDP, with projections indicating it could reach US$ 350 billion by 2026, accounting for 10% of the country's GDP. The industry added 290,000 new jobs in FY23, bringing the total workforce to 5.4 million people. In FY22, India's IT sector generated US$ 227 billion in revenue, a 15.5% year-on-year growth, and is estimated to have reached US$ 245 billion in FY23. According to a 2021 AWS survey, India is expected to see a ninefold increase in digitally skilled workers by 2025, requiring approximately 3.9 billion digital skill training sessions. By 2026, India will need 30 million digitally skilled professionals. The Indian software product industry is expected to reach US$ 100 billion by 2025. Indian companies are focusing on expanding their international presence by investing globally and enhancing their global delivery centers. In this context, Tata Consultancy Services (TCS) announced in February 2021 that it would hire 1,500 technology employees in the UK over the next year, a move aimed at improving TCS's ability to serve UK customers efficiently.
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 offer of 34,23,600 equity shares of face value of Rs. 10/- each ("equity shares") of the company at an offer price of Rs. 204/- per equity share (including a share premium of Rs. 194/- per equity share) for cash, aggregating Rs. 69.84 crores ("public offer") comprising a fresh offer of 29,08,800 equity shares of face value of Rs. 10/- each aggregating to Rs. 59.34 crores (the "fresh offer") and an offer for sale of 5,14,800 equity shares of face value of Rs. 10/- each comprising of 1,25,452, 1,25,452, 62,974, 1,00,461, 1,00,461 equity shares of face value of Rs. 10/- each by Debasish Sarkar, Prajnashree Mohapatra , Shilpa Mohta, Anindya Sen and Anirban Dasgupta ("selling shareholders) respectively "offer for sale" aggregating to Rs. 10.50 crores. out of public offer 1,71,600 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 204/- per equity share for cash, aggregating Rs. 3.50 crores will be reserved for subscription by the market maker to the offer (the "market maker reservation portion"). The public offer less market maker reservation portion i.e. offer of 32,52,000 equity shares of face value of Rs.10/- each, at an offer price of Rs. 204/- per equity share for cash, aggregating up to Rs. 66.34 crores is hereinafter referred to as the "net offer". The public offer and net offer will constitute 26.50% and 25.17% respectively of the post-offer paid-up equity share capital of the company.
*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
Our Company was originally formed as a Private Limited company under the provisions of the Companies Act, 2013 vide certificate of incorporation dated November 14, 2018, issued by the Central Registration Centre, West Bengal. Our Company was converted from a Private Limited company to a Public Limited company pursuant to the board resolution dated December 12, 2024 and special resolution passed by the Shareholders at the EOGM dated December 16, 2024. Consequently, the name of the company was changed from "Workmates Core2Cloud solution Private Limited" to `Workmates Core2Cloud Solution Limited` and a fresh certificate of incorporation consequent upon conversion to Public Company dated January 16, 2025 was issued by the Registrar of Companies, Central Processing Centre.
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.