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Smartworks Coworking Spaces IPO: Things Smart Investors Need to Know

Smartworks Coworking Spaces Limited, incorporated in 2015, is engaged in providing customised managed workspace solutions across key Indian cities. The company offers tech-enabled, fully serviced office environments tailored to the needs of mid-to-large enterprises, including Indian corporates, multinational companies, and startups. These workspaces come with integrated amenities such as cafeterias, gyms, crèches, and medical centres, aimed at supporting employee comfort and productivity. As of March 31, 2025, Smartworks had 728 clients and 169,541 seats under management, with 12,044 seats remaining unoccupied.

Smartworks follows a managed campus platform model that brings together various stakeholders, including clients, landlords, employees, and service partners. It leases large bare-shell properties from landlords and transforms them into modern campuses equipped with design-led features and workplace conveniences. With a total super built-up area of 8.99 million square feet as of March 31, 2025, the company also holds four of the five largest leased centres in India, including Bengaluru’s Vaishnavi Tech Park.

For more details, visit the Smartworks Coworking Spaces IPO page.

Smartworks Coworking Spaces IPO Details and Objectives

Details

Information

IPO Date

July 10, 2025 to July 14, 2025

Issue Size

1,43,13,400 shares (aggregating up to ₹582.56 Cr)

Price Band

₹387 to ₹407 per share

Lot Size

36 shares

Listing At

BSE NSE

Purpose of the IPO

  • Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by our Company

  • Capital expenditure for fit-outs in the new centres and for security deposits of the new centres

  • General corporate purposes

Timeline of Smartworks Coworking Spaces IPO

Event

Date

IPO Open Date

Thu, Jul 10, 2025

IPO Close Date

Mon, Jul 14, 2025

Tentative Allotment

Tue, Jul 15, 2025

Initiation of Refunds

Wed, Jul 16, 2025

Credit of Shares to Demat

Wed, Jul 16, 2025

Tentative Listing Date

Thu, Jul 17, 2025

Cut-off time for UPI mandate confirmation

5 PM on July 14, 2025

Pricing & Lot Size of Smartworks Coworking Spaces IPO

Price Band for the IPO

  • ₹387 to ₹407 per share

Minimum Lot Size and Application Details

Application

Lots

Shares

Amount

        Retail (Min)

1

36

₹14,652

        Retail (Max)

13

468

₹1,90,476

        S-HNI (Min)

14

504

₹2,05,128

        S-HNI (Max)

68

2,448

₹9,96,336

        B-HNI (Min)

69

2,484

₹10,10,988

How to Apply for the Smartworks Coworking Spaces IPO?

Online Application Process

  • Log in to Your Trading Account
    Access your trading account through your broker’s platform.

  • Navigate to the IPO Section
    Go to the IPO section to view active IPO listings.

  • Select Smartworks Coworking Spaces IPO
    Find "Smartworks Coworking Spaces IPO" and click on the ‘Apply’ button.

  • Enter Application Details
    Specify the number of lots (minimum lot size: 36 shares) and the bid price within the range of ₹387 to ₹407 per share.

  • Provide Your UPI ID
    Enter your UPI ID for payment authorisation. Ensure that sufficient funds are available in your linked account.

  • Review and Submit
    Verify all the details entered before applying. Approve the UPI mandate before 5 PM on July 14, 2025, to complete your application process.

Financial Health and Performance

Key Financial Metrics

  • Total Assets: Grew from ₹4,473.50 crore in FY23 to ₹4,650.85 crore as of March 2025.

  • Revenue: Reached ₹1,409.67 crore in FY25.

  • Profit After Tax (PAT): Stood at ₹-63.18 crore for March 2025.

  • Net Worth: Recorded at ₹107.51 crore in FY25.

  • Reserves and Surplus: Recorded at ₹4.69 crore (March 2025), growing steadily over the years.

  • EBITDA: Stood at ₹857.26 crore in March 2025.

Recent Performance and Growth Prospects

  • The company has witnessed consistent growth in its total assets over recent financial years.

  • Revenue generation has shown an upward trend, indicating business expansion and operational scale-up.

  • Despite reporting a loss, the company continues to maintain a stable financial structure, reflecting controlled expenditures and potential for future improvement.

  • The recorded net worth suggests that the company has maintained a steady capital base.

  • Reserves and surplus have gradually increased, pointing towards the accumulation of retained earnings and financial consolidation.

  • The EBITDA performance reflects the company’s operational efficiency and its ability to generate earnings before interest, tax, depreciation, and amortisation.

Investment Risks and Opportunities

Potential Risks of Investing in the IPO

  • The company reported a loss in the most recent financial year, which may indicate ongoing cost pressures or slower-than-expected revenue growth.

  • A significant portion of its workspace capacity remains unoccupied, which could impact overall utilisation and revenue realisation in the short term.

Opportunities and Growth Potential

  • The company operates in a growing segment, offering tech-enabled, fully serviced workspaces that align with changing workplace preferences among enterprises.

  • Expansion plans supported by the IPO proceeds, including investment in new centres and fit-outs, may enhance market reach and improve client onboarding across major cities.

Key Performance Indicator (KPI)

KPI

Values

ROCE

42.30%

Debt/Equity

2.90

RoNW

-58.76%

EBITDA Margin

62.39%

Price to Book Value

38.58

Smartworks Coworking Spaces IPO Registrar & Lead Managers

Registrar

Lead Manager(s)

MUFG Intime India Private Limited (Link Intime)

Jm Financial Limited 

Company Address of Smartworks Coworking Spaces Ltd

Smartworks Coworking Spaces Ltd.

Unit No. 305-310,

Plot No 9, 10 and 11, Vardhman Trade Centre,

Nehru Place, South Delhi,

Delhi, New Delhi, 110019

Phone: +91 83840 62876

Email: companysecretary@sworks.co.in

Website: https://www.smartworksoffice.com/home/

Conclusion

Smartworks Coworking Spaces Limited has developed a managed campus platform focused on offering customised, tech-enabled workspaces in several key Indian cities. The company engages with various stakeholders—including enterprises, landlords, employees, and service partners—to deliver office environments equipped with amenities intended to support modern workplace requirements.

The IPO aims to address financial obligations, fund capital expenditure for new centres, and support general corporate needs. Investors reviewing the offering may consider both the company’s business model and the outlined risks and opportunities when evaluating its position within the managed workspace segment.

Interested in more opportunities? Check out our Upcoming IPO section for new listings, and don’t forget to check your IPO allotment status for the Smartworks Coworking Spaces IPO. 

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