Smartworks IPO Opens GMP ₹32, Subscribed 0.04x

 

Mumbai, July 10, 2025 – Smartworks Coworking Spaces Ltd launched its ₹582.56 crore IPO today, marking India's largest managed office space provider's market debut. The issue opened for public subscription and will close on July 14, with shares tentatively listing on July 17.

IPO Key Details:

Price Band: ₹387-₹407 per share

Minimum Investment: ₹13,932 (36 shares)

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Breakdown:

Fresh issue: ₹445 crore (1.09 crore shares)

OFS: ₹137.56 crore (0.34 crore shares)

Lead Managers: JM Financial, Kotak Mahindra Capital, IIFL Capital, BOB Capital

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Day 1 Subscription (10:15 AM):

Overall: 0.04x

Retail: 0.05x

NII: 0.05x

QIB: 0.00x

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Grey Market & Listing Outlook:

Current GMP: ₹32 (per Business Standard)

Expected Listing Price: ₹439 (~7.8% premium)
Disclaimer: GMP is an unofficial indicator; investors should research independently.

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Business & Financials:

Operations: 50 centres across 15 cities (8.99 mn sq ft)

Clients: 800+ enterprises

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Revenue Growth:

FY23: ₹711 Cr → FY24: ₹1,039 Cr → FY25: ₹1,374 Cr

Fund Utilization:

Repay borrowings

Fit-outs & security deposits for new centres

General corporate purposes

Lead manager: Link Intime

Source: Business Standard (July 10, 2025)

Disclaimer: The content on PulseNext is for informational purposes only and not investment advice. Stock market investments carry risks, including loss of capital. Always do your own research or consult a financial advisor before investing.