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Smartworks Coworking Spaces Listing: After receiving an overwhelming response from investors during the initial public offering, Smartworks Coworking Spaces listed at over 7 per cent premium on its Dalal Street debut on Thursday, July 17, against its issue price. On the NSE, shares opened at a 6.88 per cent premium at Rs 435 over issue price of Rs 407, while on the BSE, shares listed at a 7.15 per cent premium at Rs 436.10.
Zee Business Managing Editor Anil Singhvi had advised investors to hold shares of Smartworks Coworking Spaces with a strict stoploss below Rs 415.
Smartworks Coworking Spaces IPO: Subscription status
Smartworks Coworking Spaces IPO, which closed on July 14, received bids for 13.99 crore shares, resulting in an overall subscription of 13.45 times against 1.04 crore shares on offer.
The demand was led by institutional investors—Qualified Institutional Buyers (QIBs) subscribed 24.41 times, followed by Non-Institutional Investors (NIIs) at 22.78 times. The Retail Individual Investors (RIIs) segment saw a healthy 3.53 times subscription, while the employee quota was subscribed 2.38 times, according to BSE data.
Smartworks Coworking Spaces IPO Details
The IPO was a Rs 582.56 crore book-built issue, comprising a fresh issue of Rs 445 crore and an offer for sale (OFS) of Rs 137.56 crore. The bidding window remained open from July 10 to July 14, with allotment finalised on Tuesday.
The IPO was priced in a band of Rs 407 per share, with a lot size of 36 shares, requiring a minimum investment of Rs 13,932 for retail investors. For NIIs, the minimum bid amounted to Rs 2,05,128 for small applicants (504 shares), and Rs 10,10,988 for large applicants (2,484 shares). The issue also included a reservation of 1,01,351 shares for employees, who received a Rs 37 discount on the issue price.
JM Financial Limited served as the book-running lead manager, while MUFG Intime India Private Limited (Link Intime) acted as the registrar.
About Smartworks Coworking Spaces
In operation since 2015, Smartworks Coworking Spaces offers tech-enabled, fully serviced office campuses for enterprises and startups. It is equipped with gyms, crèches, cafeterias, and medical rooms, aiming to serve the workloads of modern-day employees.
As of March 2025, Smartworks had over 1.69 lakh seats operational in various major Indian cities. Sprawling over 0.7 million sq. ft., its Vaishnavi Tech Park in Bengaluru comes under the largest leased office spaces in India. Despite the loss of Rs 63.18 crore in the year of finance 2024-25 due to heavy expansion activities, the company showcased a growth of 27% in revenue to touch Rs 1,409.67 crores.
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