by Suman Gupta
RHP Link: https://www.jmfl.com/Common/getFile/5079
https://d14ooopotgqw8y.cloudfront.net/uploads/Red_Herring_Prospectus_66339dd6b5.pdf
MUMBAI, 7 JULY, 2025 : Smartworks Coworking Spaces Limited IPO will open for subscription on Thursday, July 10, 2025 and will close on Monday, July 14, 2025. The price band has been fixed in the range of Rs. 387 to Rs. 407 per equity share of the face value of Rs. 10. The Smartworks Coworking IPO date of The allocation to anchor investors for the Smartworks Coworking Spaces IPO is scheduled one day prior on Wednesday, July 9, 2025.
The floor price is 38.7 times of the face value and the cap price is 40.7 times of the face value of the equity shares. Investors can bid for a minimum of 36 shares and in multiples thereof.
Smartworks Coworking Spaces IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employees of the firm have been reserved equity shares worth ₹37.50 million.
Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP and Aryadeep Realstates Private Limited are the promoters of the company.
Nearly 50% of the offer will be allocated to qualified institutional buyers, 15% to non-institutional bidders, and the remaining 35% to retail investors.
The fresh issue has been reduced to Rs. 445 crore from the earlier planned Rs. 550 crore, while the offer for sale (OFS) by promoters has been cut to 33.79 lakh shares from 67.59 lakh share
About Rs. 226 crore from the total proceeds will be utilised for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs. 114 crore will be allocated for the payment of loans, and the remaining funds will be utilised for general corporate purposes.
The implied market capitalisation after listing could be between Rs. 4,394 crore and Rs. 4,645 crore at the upper end.
Tentatively, Smartworks Coworking IPO basis of allotment of shares will be finalised on Tuesday, July 15 and the company will initiate refunds on Wednesday, July 16 while the shares will be credited to the demat account of allottees on the same day following refund. Smartworks Coworking share price is likely to be listed on BSE and NSE on Thursday, July 17.
Smartworks Coworking Spaces is engaged in the business of customised managed workspace solutions, offering fully serviced, tech-enabled office environments with aesthetic designs and essential amenities to meet the specific needs of enterprises and their employees.
It specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern amenities.
These campuses include cafeterias, sports zones, gyms, medical centres, and more, offering a modern and attractive work environment. The company cater to businesses of all sizes, with a focus on mid-to-large companies that need over 300 seats.
The company is concentrated in various cities, including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and Chennai.
Between FY23 and FY25, Smartworks expanded its operations by adding 2.83 million square feet of space under management, achieving a CAGR (compound annual growth rate) of 20.80 percent.
JM Financial is the book-running lead manager of the Smartworks Coworking IPO, while MUFG Intime India (Link Intime) is the registrar for the issue.
