The Smartworks Coworking IPO is a highly anticipated mainboard public issue worth ₹582.56 crore, set to open for subscription from July 10 to July 14, 2025. This IPO comprises a fresh issue of ₹445 crore and an offer for sale (OFS) of ₹137.56 crore, aiming to raise capital for business expansion and provide partial exits to existing shareholders. The Smartworks Coworking IPO comes with a face value of ₹10 per share, and the price band is fixed between ₹387 to ₹407 per share.
Retail investors looking to participate in the Smartworks Coworking IPO can apply for a minimum of one lot (36 shares), which requires an investment of ₹14,652. The tentative listing date on NSE and BSE is July 17, 2025.
Founded as one of India’s fastest-growing managed workspace providers, Smartworks has carved a niche in the flexible office space segment, catering to large enterprises and Fortune 500 companies. Investors and analysts are closely watching the Smartworks Coworking IPO for its growth potential, sectoral relevance, and valuation.
🔔 Follow this page for daily updates on Smartworks Coworking IPO including company overview, financials, subscription status, GMP trends, allotment updates, and listing price predictions.
Smartworks Coworking IPO Details
| General | Detail |
|---|---|
| IPO Issue Opening Date: | 10th Jul 2025 |
| IPO Issue Closing Date: | 14th Jul 2025 |
| IPO Issue Price: | ₹387.00-407.00 Per Share |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not more than 35% of the Net Offer |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹582.56 Cr |
| Offer for Sale: | ₹137.56 Cr |
| Fresh Issue: | ₹445.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | Emplopee:37.00 |
| Promoter Holding Pre IPO: | 65.19 |
| Promoter Holding Post IPO: | 58.25 |
Smartworks Coworking IPO Lots
| IPO Activity | Date |
|---|---|
| Issue Price | ₹387.00-407.00 |
| Market Lot: | 36 Shares |
| Retail Min: | ₹14,652 |
| Min Small HNI Lots(2-10 Lakh): | 504 shares (14 lots) – ₹2,05,128 |
| Min Big HNI Lots(10+ Lakh): | 2484 shares (69 lots) – ₹10,10,988 |
Smartworks Coworking IPO Important Dates
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 15th Jul 2025 |
| Refunds Initiation* | 16th Jul 2025 |
| Credit of Shares to Demat* | 16th Jul 2025 |
| IPO Listing Date* | 17th Jul 2025 |
Smartworks Coworking IPO Objective
The Company Smartworks Coworking IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company | 114.00 |
| 2 | Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres | 225.84 |
| 3 | General corporate purposes |
About Smartworks Coworking IPO
Founded in 2016 by Neetish Sarda, Smartworks Coworking Spaces Limited is India’s largest provider of enterprise-focused managed office spaces. Headquartered in Gurgaon, the company specializes in transforming conventional commercial real estate into tech-enabled, fully serviced office campuses tailored to the needs of mid- to large-sized enterprises.
As of March 2025, Smartworks operates across 15 Indian cities with over 50 centres, covering more than 10 million sq. ft. of managed space and serving 728+ enterprise clients. The company’s client base includes several Fortune 500 and Forbes 2000 companies, such as Microsoft, Amazon, EY, and Jaguar Land Rover.
Unlike traditional coworking firms that cater to freelancers or small startups, Smartworks focuses on custom-built workspaces for large corporations, typically catering to teams of 300 or more seats. Their campuses are designed to enhance employee experience by offering modern amenities, smart technology, and wellness-focused infrastructure.
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Backed by marquee investors like Keppel Land and Ananta Capital, Smartworks has scaled rapidly, with revenues growing from ₹711 crore in FY23 to over ₹1,370 crore in FY25. The company’s asset-light, tech-first model allows it to achieve faster rollouts (45–60 days) and maintain high occupancy across mature centres, often exceeding 85–90%.
With a strong foothold in India and early expansion into Singapore, Smartworks is well-positioned to tap into the global demand for flexible, enterprise-grade workspaces, especially in the post-pandemic hybrid work era.
Products & Services
- Managed Office Campuses (custom-built for large teams)
- Enterprise Coworking Spaces (private, secure areas within larger centres)
- Tech-Integrated Infrastructure:
- Mobile App Access
- Facial Recognition Entry
- RFID Parking & Visitor Management
- Smart Meeting Room Booking
- Fully Furnished Office Fit-outs
- On-Campus Amenities:
- Cafeterias & Snack Lounges
- Recreational Zones & Event Spaces
- Wellness Rooms, Gyms & Crèches
- Smart Convenience Stores & Medical Rooms
- Value-Added Services:
- Concierge & Front Desk Services
- Networking & Corporate Events (e.g., SmartWeekendays)
- Wellness Programs (e.g., yoga, therapy dogs, mental health workshops)
- Business Continuity Support
Company Strengths (Smartworks Coworking IPO)
- Enterprise-First Focus: Targets large corporations, ensuring long-term contracts and lower churn.
- Pan-India Presence: Active in 15 cities with 50+ centres and expanding to international markets.
- Rapid Scale-Up Capability: New centres launched within 45–60 days using modular setups.
- Strong Financial Growth: FY23–FY25 CAGR of ~38.9% in revenue and over 117% in EBITDA.
- Tech-Driven Experience: Proprietary software and automation enhance scalability and efficiency.
- High Occupancy Levels: Mature centres consistently run at 85–90% occupancy.
- Cost-Efficient Model: Low capex per sq. ft. and asset-light operations improve margins.
- Strong Client Portfolio: Includes Fortune 500 & top-tier multinational companies.
- Backed by Renowned Investors: Keppel, Ananta Capital, and other strategic backers.
- Customisation & Flexibility: Office design and layout tailored to each client’s specific needs.
Company Financial
Smartworks Coworking Spaces Limited Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 4,650.85 | 4,147.08 | 4,473.50 |
| Revenue | 1,409.67 | 1,113.11 | 744.07 |
| Profit After Tax | -63.18 | -49.96 | –101.05 |
| EBITDA | 857.26 | 659.67 | 424.00 |
| Net Worth | 107.51 | 50.01 | 31.47 |
| Reserves and Surplus | 4.69 | 29.01 | -46.23 |
| Total Borrowing | 397.77 | 427.35 | 515.39 |
| Amount in ₹ Crore | |||
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE: | -% |
| ROCE: | 42.30% |
| EBITDA Margin: | 62.39% |
| PAT Margin: | -% |
| Debt to equity ratio: | 2.90 |
| Earning Per Share (EPS): | ₹(6.18) (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | (58.76)% |
| Net Asset Value (NAV): | ₹10.55 |
Smartworks Coworking IPO Peer Comparison
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Smartworks Coworking Spaces Limited | -6.18 | -6.18 | 10.55 | -58.76 | ||
| Awfis Space Solutions Limited | 9.75 | 9.67 | 65.97 | 63.18 | 14.78 | Consolidated |
IPO Bidding Live Updates from BSE, NSE
The table below is live update of IPO bidding details from BSE, NSE.
- Qualified Institutional Buyers: 28,44,254.00 Shares (28.28%)
- Non-Institutional Investors: 21,33,190 Shares (21.21%)
- Small NII (SNII- Bid below ₹10L): 7,11,063 Shares (7.07%)
- Big NII (BNII- Bid above ₹10L): 14,22,126 Shares (14.14%)
- Retail Individual Investor: 49,77,442 Shares (49.50%)
- Employees Quota: 1,01,351 Shares (1.01%)
| Day | QIB | NII | SNII (Below ₹10L) | BNII(Above ₹10L) | RII | EMP | Total | |
|---|---|---|---|---|---|---|---|---|
| # of Share Offered | 28,44,254 | 21,33,190 | 7,11,063 | 14,22,126 | 49,77,442 | 1,01,351 | 1,00,56,237 | |
| Number of Lots Offered | 79007 | 59255 | 19752 | 39504 | 138262 | 2815 | 279340 | |
| 1 | 10th Jul 2025 17:06 | 0.00x | 1.04x | 0.64x | 1.24x | 0.60x | 0.50x | 0.52x |
| 2 | 11th Jul 2025 17:06 | 0.64x | 1.86x | 1.55x | 2.02x | 1.23x | 1.07x | 1.20x |
Smartworks Coworking IPO| Company Address
Company Address
- Smartworks Coworking Spaces Ltd.
- Unit No. 305-310,
- Plot No 9, 10 and 11, Vardhman Trade Centre,
- Nehru Place
- Delhi,New Delhi-110019
- India
- Website: https://www.smartworksoffice.com/home/
- Phone: +91 83840 62876
- Email: companysecretary@sworks.co.in
– Includes ₹445 crore fresh issue and ₹137.56 crore offer for sale
– Closes: July 14, 2025
– Tentative Listing: July 17, 2025 (on NSE & BSE)
– Lot Size: 36 shares per lot
– Minimum Investment: ₹14,652 for retail investors
– Focuses on large enterprises and Fortune 500 clients
– Operates across 15 Indian cities with over 50 centers
– He is the key promoter and strategic leader
– Investors should check daily GMP trends for updates
– Backed by institutional investors and high occupancy levels
– Review RHP and consult a financial advisor before investing
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