Smartworks Coworking Spaces Limited IPO
Smartworks Coworking Spaces Limited IPO
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Smartworks Coworking Spaces Limited's achieved publicly listed status following its IPO debut on 17-07-2025 at the NSE, BSE platform. The offering successfully mobilized 1,43,13,401 Shares, with 1,09,33,661 Shares allocated to corporate growth initiatives and ₹137.56 Cr providing liquidity to existing shareholders.
Investment participation occurred within the established price band of ₹387 to ₹407, starting from minimum lots of 36 shares. The subscription window from 10-07-2025 through 14-07-2025 enabled investor participation across market segments.
Share allocation was completed on 15-07-2025, determining ownership distribution among successful applicants. The listing represents a milestone achievement, transitioning the company to regulated public market status with associated responsibilities and opportunities.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Smartworks Coworking IPO About Company
Incorporated in 2015, the company offers customized, fully serviced, and technology-enabled managed office spaces tailored for mid-to-large enterprises, multinational corporations, startups, and Indian corporates. As of March 31, 2024, it has expanded to a leased area of 8 million square feet, catering to 618 clients with a total of 149,660 seats, out of which 8,691 remain unoccupied. One of its key assets includes the Vaishnavi Tech Park in Bengaluru, which spans 0.7 million square feet. The company employs 651 permanent staff members. Its business model revolves around multiple stakeholders. For clients, it delivers customizable workspaces equipped with advanced technology and wellness amenities. For landlords, it transforms their properties into Smartworks campuses, providing long-term lease or rental stability. For employees of client companies, the focus is on wellness-centric work environments that feature cafeterias, gyms, crèches, and medical centers. Additionally, the company enhances its value proposition through service partnerships with well-known brands such as Chaipoint and ClearTax.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Smartworks Coworking IPO Strength Factors
- Market Leadership & Scale: One of the largest managed workspace providers with 8 million sq. ft. under management
- Campus Transformation Capability: Skilled in converting large properties into branded, amenity-rich Smartworks campuses
- Enterprise-Focused Growth: Strong demand from large and mid-sized enterprises ensures long-term scalability
Smartworks Coworking IPO Risk Factors
- Geographical Concentration: Over 80% of rental revenue comes from just four cities, increasing regional risk
- Client Dependence: Heavily reliant on large clients needing 300+ seats, making cash flow vulnerable if they exit
- Location & Lease Risk: Growth depends on getting the right properties at good terms—failure can affect profitability
Smartworks Coworking IPO Lead Manager(s)
- Bob Capital Markets Limited
- IIFL Securities Limited
- Jm Financial Limited
- Kotak Mahindra Capital Company Limited
Smartworks Coworking IPO Promoter(s)
- Neetish Sarda
- Harsh Binani
- Saumya Binani
- NS Niketan LLP
- SNS Infrareality LLP
- Aryadeep Realstates Private Limited
Smartworks Coworking IPO FAQs
Smartworks Coworking Spaces Limited IPO subscribed 13.46 times. The public issue subscribed 3.67 times in the retail category,24.92times in QIB, and 28.21 times in the HNI (10+) category byNovember 24, 2025 10:34:32 AM (Day 24).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Smartworks Coworking IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Smartworks Coworking IPO FAQs
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