Smartworks Coworking IPO & GMP – Comprehensive Overview
Company Snapshot
Smartworks Coworking Spaces Ltd. is one of India’s leading managed workspace providers. Incorporated in 2015, the company leases and transforms large vacant commercial spaces into fully serviced, tech-enabled office environments. With over 50 centers across 15 cities and 10 million sq ft under management, Smartworks primarily serves mid-to-large enterprise clients from sectors like IT, BFSI, and startups. It offers flexible leasing and value-added facility management services, giving it a strong edge in the growing flexible workspace market.
IPO Highlights
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IPO Type: Book-built Issue (Mainboard IPO)
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Issue Size: ₹582.56 crore
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Fresh Issue: ₹445 crore
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Offer For Sale (OFS): ₹137.56 crore
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Price Band: ₹387 – ₹407 per share
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Face Value: ₹10 per share
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Lot Size: 36 shares
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Minimum Investment (Retail): ₹14,652
IPO Timeline
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Opening Date: 10 July 2025
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Closing Date: 14 July 2025
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Allotment Date: 15 July 2025
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Refund Initiation: 16 July 2025
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Credit to Demat Accounts: 16 July 2025
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Listing Date: 17 July 2025 (BSE & NSE)
Subscription Status
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Day 1 (10 July):
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Subscription: ~23%
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Retail and NII saw steady participation
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Day 2 (11 July):
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Overall subscription reached ~72%
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Retail: ~86%
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NII: Fully subscribed
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QIB: Minimal bids observed
Smartworks Coworking IPO GMP Trends
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Before IPO Opening: GMP around ₹28–₹30
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Day 1: GMP rose to ₹30–₹32
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Day 2: GMP trending at ₹32–₹34
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Estimated Listing Price: ₹437–₹441 based on GMP over the upper band
The strong grey market premium shows positive investor sentiment toward the IPO.
Use of IPO Proceeds
Funds raised through the IPO will be used for:
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Setting up new workspaces, including fit-outs and deposits
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Repayment/prepayment of certain borrowings
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General corporate purposes
Lead Managers & Registrar
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Book Running Lead Managers:
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JM Financial
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BOB Capital Markets
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IIFL Securities
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Kotak Mahindra Capital Company
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Registrar:
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KFin Technologies Ltd
Summary Table
Conclusion
The Smartworks Coworking IPO has caught the attention of investors with a strong business model in the managed office space sector. Backed by solid demand from institutional clients and an expanding footprint across Indian metros, the company is well-positioned for future growth. Moreover, the rising Smartworks Coworking IPO GMP indicates strong market interest, making this IPO one to watch.
However, investors should also consider the capital-intensive nature of the business and delayed profitability. Still, for those seeking to invest in India’s growing flex-space industry, this IPO could be a strategic entry point.
Frequently Asked Questions about Smartworks Coworkings IPO GMP (FAQs)
1. What is the Smartworks Coworking IPO?
Smartworks Coworking IPO is a book-built issue worth ₹582.56 crore. It includes a fresh issue of ₹445 crore and an offer for sale (OFS) of ₹137.56 crore. The IPO aims to raise funds for expansion, debt repayment, and general corporate purposes.
2. What is the price band for Smartworks Coworking IPO?
The price band for the Smartworks Coworking IPO is set between ₹387 to ₹407 per equity share.
3. What is the lot size for Smartworks Coworking IPO?
The lot size is 36 shares. Retail investors can apply for a minimum of 1 lot, which amounts to ₹14,652.
4. What is the Smartworks Coworking IPO GMP today?
As of the second day of IPO bidding, the Smartworks Coworking IPO GMP (Grey Market Premium) is around ₹32–₹34, indicating a premium over the upper price band.
5. When is the allotment date for Smartworks Coworking IPO?
The allotment for the Smartworks Coworking IPO is expected to be finalized on 15 July 2025.
6. What is the expected listing date of Smartworks Coworking IPO?
The IPO is expected to be listed on 17 July 2025, on both BSE and NSE.
7. How is the subscription status for Smartworks Coworking IPO?
The IPO saw a gradual increase in demand. By Day 2, overall subscription reached around 72%, with full subscription from retail and NII investors.
8. Is Smartworks Coworking IPO a good investment?
Smartworks operates in a high-growth flexible workspace industry and serves enterprise clients. Its rising GMP and demand indicate positive market sentiment, but investors should also consider business risks and financials before investing.
9. What will the IPO funds be used for?
The funds will be used for setting up new coworking centers (fit-outs, deposits), repayment/prepayment of loans, and general corporate expenses.
10. Who are the lead managers and registrar for this IPO?
The lead managers are JM Financial, BOB Capital Markets, IIFL Securities, and Kotak Mahindra Capital. The registrar is KFin Technologies Ltd.
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