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SME

Workmates Core2cloud Solution Ltd

Workmates Core2cloud Solution Ltd IPO Details

Listing Date

18 Nov 2025

Bid Price

₹200 - ₹204

Lot Size

1200 Shares

Minimum Investment

₹2,44,800 / 2 Lots

Issue Size

₹69.84 Crores

Schedule

    Here are the important dates you need to know in order to participate in this IPO

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Bidding starts

11th Nov

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Bidding ends

13th Nov

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Allotment of shares

14th Nov

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Initiation of refund

14th Nov

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Credit of shares to Demat account

17th Nov

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Listing date

18th Nov

About Workmates Core2cloud Solution Ltd IPO

Workmates Core2Cloud Solution Limited, headquartered in Kolkata, is an AWS Premier Consulting Partner that provides a wide range of scalable and innovative cloud services across India. Established in 2018, the company has completed more than 350 projects for over 200 clients across industries such as finance, healthcare, retail, e-commerce, and media. Its core service areas include cloud migration, managed services, DevOps, automation, cybersecurity, analytics, and application development. The firm also supports SAP infrastructure and works with emerging technologies like IoT, Blockchain, AI/ML, VR, and AR. As of March 31, 2025, it employed 129 professionals across various departments, contributing to its strong technical and operational base.
 

Over the years, Workmates has evolved from a startup into a recognised AWS Premier Tier Partner — a title earned by only a few global firms. The company’s focus on digital transformation has enabled enterprises to modernise, secure, and scale their IT infrastructure effectively. Entirely bootstrapped, Workmates has been guided by a forward-thinking leadership team whose efforts recently earned it the AWS Consulting Partner of the Year 2025 recognition. The organisation’s mission centres on empowering businesses with dependable and innovative cloud solutions, while its vision is to grow as a trusted and transformative partner in the evolving cloud computing ecosystem.

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 98.1% 72.03%
Public Group 1.9% 27.97%

Workmates Core2cloud Solution Ltd IPO Reservation

QIB Shares Offered 6,62,400 (19.35%)
NII (HNI) Shares Offered 4,89,600 (14.3%)
Retail Shares Offered 11,40,000 (33.3%)
Anchor Investor Shares Offered 9,60,000 (28.04%)
Total Shares Offered 34,23,600
Total Shares With Anchor Investor 34,23,600

Workmates Core2cloud Solution Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 1,200 ₹2,44,800
Retail (Max) 2 1,200 ₹2,44,800
S HNI (Min) 3 1,800 ₹3,67,200
S HNI (Max) 8 4,800 ₹9,79,200
B HNI (MIN) 9 5,400 ₹11,01,600

Workmates Core2cloud Solution Ltd IPO Anchor Investor Details

Bid Date November 10, 2025

Workmates Core2cloud Solution Ltd IPO registrar

MUFG Intime India Pvt Ltd
Phone Number +91 81081 14949
Email Id workmatescore.smeipo@in.mpms.mufg.com
Website www.linkintime.co.in

Workmates Core2cloud Solution Ltd IPO Lead Manager

1. Horizon Management Private Limited

Workmates Core2cloud Solution Ltd Financial Information

March 31, 2024 March 31, 2023 March 31, 2022
Net Worth ₹8.96 cr ₹3.61 cr ₹1.75 cr
Reserves and Surplus ₹8.95 cr ₹3.6 cr ₹1.74 cr
Total Borrowing ₹0 cr ₹0 cr ₹0 cr

Workmates Core2cloud Solution Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 0 0 0
Non Institutional Investors (NIIs) 0 0 0
NII(Bid amount of more than Ten Lakh Rupees) 0 0 0
NII(Bid amount of more than 2 Lakh < 10 Rupees) 0 0 0
Retail Individual Investors (RIIs) 0 0 0
Total 0 0 0

Strength of Workmates Core2cloud Solution Ltd

  • Recognized as one of the fastest-growing AWS Premier Consulting Partners in India, specializing in managed services, cloud migration, and implementation of value-added services on the cloud.
  • All infrastructure team members are AWS certified and industry experts, ensuring high-quality service delivery.
  • Offers round-the-clock support to clients, ensuring continuous assistance and problem resolution.
  • Focuses on innovation, providing services in emerging technologies like AI, IoT, VR, and AR, transforming businesses through advanced solutions.
  • Emphasizes understanding client business needs deeply, ensuring tailored solutions that align with their objectives.

Risks Involved

  • The company is dependent on a few customers for a major part of its revenues. Further the company does not have any long-term commitments from customers and any failures to continue the company existing arrangements could adversely affect its business and results of operations.
  • The company is primarily dependent on few key suppliers for procurement of products and services. Any delay, interruption or reduction in the supply of products and services may adversely affect its business, results of operations, cash flows and financial conditions.
  • Its operations are heavily dependent on the company technology partnership.
  • The company is dependent on its ability to develop new services and products, and enhance the company existing services and products. If its products and services does not gain market acceptance, its operating results may be negatively affected.
  • Failures to obtain or renew approvals, licenses, registrations and permits to operate the company business in a timely manner, or at all, may adversely affect its business, financial condition, results of operations and cash flows.
  • Its ability to anticipate changes in consumer preference, and industry trends and to meet customers' demands is a significant factor to remain competitive, any failures to identify and understand the trends may materially adversely affect its business.
  • The length of its sales cycle may fluctuate significantly and depends on several external factors which may result in significant fluctuations in the company revenues.
  • Its lenders have charge over our movable and immovable properties in respect of finance availed by it.
  • The Company's success depends largely upon its skilled professionals and its ability to attract and retain these personnel. The industry where the Company operates is a highly skilled and technical employee intensive industry.
  • The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
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Industry Outlook of Workmates Core2cloud Solution IPO

  • The global cloud computing market is projected to reach USD 0.79 trillion in 2025 and USD 1.69 trillion by 2030, with a CAGR of 16.4% during 2025–2030.

  • Growth in this market is supported by the expansion of big data, artificial intelligence (AI), and machine learning (ML) technologies.

  • The rising adoption of customer-centric applications aimed at improving user experience further drives demand.

  • Cloud infrastructure enables flexible, on-demand access to computing resources, helping organisations deploy digital business solutions efficiently.

  • It plays a vital role in areas such as enterprise resource planning (ERP), online transaction processing (OLTP), and supply chain management (SCM) across multiple industries.

  • In FY23, the Indian IT industry contributed 7.5% to the national GDP.

  • Projections indicate it could reach USD 350 billion by 2026, contributing 10% of India’s GDP.

  • The industry generated 290,000 new jobs in FY23, increasing the total workforce to around 5 million.


Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Workmates Core2cloud Solution IPO.

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Frequently Asked Questions

What is Workmates Core2cloud Solution Ltd IPO?

Answer Field

Workmates Core2cloud Solution Ltd IPO is a SME IPO of 34,23,600 equity shares of a face value of ₹10 aggregating up to ₹69.84 Crores. The issue is priced at ₹200 to ₹204 per share. The minimum order quantity is 1200 Shares. The IPO opens on November 11, 2025, and closes on November 13, 2025. MUFG Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE-SME.

When Workmates Core2cloud Solution Ltd IPO will open?

Answer Field

The Workmates Core2cloud Solution Ltd IPO opens on November 11, 2025 and closes on November 13, 2025.

What is the lot size of Workmates Core2cloud Solution Ltd?

Answer Field

Workmates Core2cloud Solution Ltd lot size is 1200 shares, and the minimum amount required is ₹2,44,800.

How to apply for Workmates Core2cloud Solution Ltd IPO?

Answer Field

You can apply in Workmates Core2cloud Solution Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Workmates Core2cloud Solution Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Workmates Core2cloud Solution Ltd IPO will be done on November 14, 2025, and the allotted shares will be credited to your demat account by November 17, 2025.

When is Workmates Core2cloud Solution Ltd IPO listing date?

Answer Field

The Workmates Core2cloud Solution Ltd listing date is November 18, 2025.

Who is the registrar of Workmates Core2cloud Solution Ltd IPO?

Answer Field

The registrar of Workmates Core2cloud Solution Ltd IPO is MUFG Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Horizon Management Private Limited will be the book-running lead manager of this IPO.

What is the fresh issue of Workmates Core2cloud Solution Ltd IPO?

Answer Field

The fresh issue size is ₹59.34 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Workmates Core2cloud Solution Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 1200 shares and ₹2,44,800 amount.

How can I approve the UPI mandate request for Workmates Core2cloud Solution Ltd IPO?

Answer Field

To apply for Workmates Core2cloud Solution Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Workmates Core2cloud Solution Ltd?

Answer Field

The price of each Workmates Core2cloud Solution Ltd share will be ranging in between ₹200 to ₹204 per share.

What is the cut-off time for the UPI mandate for Workmates Core2cloud Solution Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, November 13, 2025.

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