Mumbai: Smartworks Coworking Spaces Limited, India’s leading provider of managed office solutions, has announced the launch of its initial public offering with a price band of ₹387 to ₹407 per equity share (Smartworks Coworking Spaces IPO).
The Smartworks Coworking Spaces IPO will open for subscription on Thursday, July 10, 2025, and close on Monday, July 14, 2025. The Anchor Investor bidding window will open and close on July 9, 2025.
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Smartworks Coworking Spaces IPO comprises:
- A fresh issue of equity shares aggregating ₹445 crore
- An offer for sale (OFS) of 3,379,740 shares by existing shareholders, including NS Niketan LLP, SNS Infrarealty LLP, and Space Solutions India Pte. Ltd.
- Eligible employees bidding under the Employee Reservation Portion will enjoy a discount of ₹37 per share.
Key IPO Details:
- Price Band: ₹387–₹407 per equity share (Face Value: ₹10)
- Minimum Bid: 36 shares and multiples thereof
- Employee Discount: ₹37 per share
- Listing Exchanges: NSE (Designated Stock Exchange) and BSE
Use of Proceeds:
- ₹114 crore for repayment/prepayment of borrowings
- ₹225.84 crore for capex on new centre fit-outs and security deposits
- Remaining funds for general corporate purposes
“This IPO marks a significant milestone in Smartworks’ journey as a workspace innovator,” said a company spokesperson. “The funds will further fuel our pan-India growth, technology expansion, and service excellence.”
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Book Running Lead Managers:
- JM Financial
- BOB Capital Markets
- IIFL Capital Services
- Kotak Mahindra Capital
Smartworks Coworking Spaces IPO is being made through the book-building process under SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and 35% for Retail Individual Investors (RIIs). A portion of QIB allocation is reserved for domestic mutual funds.
Investors can participate via the ASBA (Application Supported by Blocked Amount) mechanism, with UPI mandatory for retail applicants.
The equity shares are proposed to be listed on BSE and NSE, offering public investors an opportunity to participate in the future of India’s growing flexible workspace sector.
For full details, refer to the Red Herring Prospectus available at: Smartworks RHP
