Smartworks Coworking Spaces Limited IPO (Smartworks Coworking IPO)

Smartworks Coworking Limited IPO
Upcoming Smartworks Coworking IPO | New Smartworks Coworking IPO

Smartworks Coworking Spaces Limited is India’s largest platform for customized managed workspaces—designed not for freelancers, but for the giants: enterprises, MNCs, and high-growth startups.

Built for enterprises, MNCs, and fast-growing startups, Smartworks offers fully-managed, tech-enabled workspaces that feel more like campuses than offices. Think: cafeterias, gyms, medical rooms, crèches — all under one roof, designed for well-being, productivity, and collaboration.

🧩 The Smartworks Ecosystem

At the core of Smartworks is a powerful ecosystem model that connects four key stakeholders:

  • Clients (Enterprises): Offered flexible, tech-enabled office spaces across major Indian cities, designed to enhance productivity and reduce costs.
  • Landlords: Collaborates with non-institutional property owners to transform vacant buildings into Smartworks campuses — offering them rental assurance and long-term value.
  • Employees of Clients: Get access to an environment that encourages wellness and community — with services like cafés, lounges, breakout zones, gyms, and even daycare centers.
  • Service Partners: Brands like Chaipoint, ClearTax, and more plug into Smartworks’ campuses to offer their services — gaining access to a high-density, premium customer base.

📊 Scale That Speaks

As of March 31, 2025, Smartworks had:

  • 169,541 total seats
  • 728 active clients
  • 12,044 seats still available for occupancy

With a team of 794+ employees, Smartworks is not just creating office spaces — it’s building the future of how India works.

Smartworks Coworking IPO

Smartworks Coworking IPO – Details

IPO Opening Date10 July 2025
IPO Closing Date14 July 2025
Issue TypeBook Built Issue IPO
Issue SizeTotal Issue Size: 1,43,13,400 Shares Worth ₹582.56 Crore
Fresh Issue: 1,09,33,660 Shares Worth ₹445.00 Crore
Offer For Sale: 33,79,740 Shares Worth ₹137.56 Crore
Face Value₹10 per equity share
IPO Price₹387 – ₹407 per share
Market Lot36 Shares
Min Order36 Shares [ 1 LOT ]
Employee Discount₹37
Listing AtBSE, NSE
RegisterMUFG Intime India Private Limited (Link Intime)
QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Smartworks Coworking IPO – Date Schedule

IPO Open Date10 July 2025
IPO Close Date14 July 2025
Basis of Allotment15 July 2025
Initiation of Refund16 July 2025
Credit of Shares to Demat Account16 July 2025
IPO Listing Date17 July 2025
Cut-off time for UPI mandate confirmation5 PM on July 14, 2025

Smartworks Coworking IPO – Lots Size & Price

ApplicationLotsSharesAmount
Retail (Min)136₹14,652
Retail (Max)13468₹1,90,476
S-HNI (Min)14504₹2,05,128
S-HNI (Max)682,448₹9,96,336
B-HNI (Min)692,484₹10,10,988

Competitive Strength

  • Their market leadership backed by scale and steady growth.
  • Their ability to lease and transform entire/ large properties across India’s key clusters into amenities rich ‘Smartworks’ branded Campuses.
  • Their focus is on acquiring Enterprise Clients with higher Seat requirements as well as emerging mid-to-large Enterprises and growing with them.
  • Their execution capabilities are backed by cost efficiencies, effective processes, and technology infrastructure.
  • Their financial acumen and strategic execution abilities make us capital efficient, resulting in saving our equity on capital expenditure and working capital.
  • Their risk-mitigating strategy allows us to build a financially stable business model.

Company Promoters

  • Neetish Sarda
  • Harsh Binani
  • Saumya Binani
  • NS Niketan LLP
  • SNS Infrareality LLP
  • Aryadeep Realstates Private Limited 

Company Financials

ParticularsTotal RevenueTotal ExpenseProfit After TaxTotal Borrowing
31 March 2023₹744.07 Cr₹880.30 Cr-₹101.05 Cr₹515.39 Cr
31 March 2024₹1,113.11 Cr₹1,180.73 Cr-₹49.96 Cr₹427.35 Cr
31 March 2025₹1,409.67 Cr₹1,489.13 Cr-₹63.18 Cr₹397.77 Cr
Amount in ₹ Crore

Key Performance Indicator

KPIValues
ROCE42.30%
Debt/Equity2.90
RoNW-58.76%
EBITDA Margin62.39%
Price to Book Value38.58
Pre IPOPost IPO
EPS (₹)-6.12-5.54
P/E (x)

Object Of The Issue

Objects of the IssueExpected Amount (₹ in crores)
Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company114.00
Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres225.84
General corporate purposes
Smartworks Coworking IPO
Object of the Issues

Smartworks Coworking IPO Peer Comparison

S. No.Face ValueCompany NameP/E
210Awfis Space Solutions Ltd63.18
32Jubilant FoodWorks Ltd205.81
41Devyani International Ltd2,097.13
52Sapphire Foods India Ltd548.00
62Westlife Foodworld Ltd955.26
710Restaurant Brands Asia Ltd

✅Strengths

  • Largest managed office campus operator in India.
  • Operates in 14 Indian cities and Singapore.
  • Converts full buildings into serviced tech-enabled campuses.
  • Focus on large enterprises with long-term contracts.
  • Uses client deposits and lease rentals for funding.
  • Diversified clients and built-in rental safeguards.

⚠️Risks

  • Consistent losses over the last three years.
  • Depends on availability of large commercial spaces.
  • Negative cash flows from investing and financing.
  • Limited experience in international markets.
  • High depreciation and finance costs.

Smartworks Coworking IPO Promoter Holding

Pre Issue Share Holding65.19%
Post Issue Share Holding58.25%

Smartworks Coworking IPO Prospectus

Company Contact Information

Smartworks Coworking Spaces Limited

Unit No. 305-310,
Plot No 9, 10 and 11, Vardhman Trade Centre,
Nehru Place, South Delhi,
Delhi, New Delhi, 110019

Phone: +91 83840 62876
Email: companysecretary@sworks.co.in
Websitehttps://www.smartworksoffice.com/home/

Smartworks Coworking IPO Registrar

MUFG Intime India Private Limited (Link Intime)

Phone: +91-22-4918 6270
Email: smartwork.ipo@in.mpms.mufg.com
Websitehttps://linkintime.co.in/Initial_Offer/public-issues.html

Smartworks Coworking IPO Lead Manager(s)

1. JM Financial Limited
2. IIFL Securities Limited
3. BOB Capital Markets Limited
4. Kotak Mahindra Capital Company Limited

Smartworks Coworking IPO FAQs

Smartworks Coworking IPO FAQs
What is Smartworks Coworking IPO?

Smartworks Coworking IPO is a main-board IPO. The issue is priced at ₹387 to ₹407 per equity share. The IPO is to be listed on BSE & NSE.
When Smartworks Coworking IPO will open?

The IPO is to open on 10 July 2025 for QIB, NII, and Retail Investors.
What is Smartworks Coworking IPO Investors Portion?

The investors’ portion for QIB – 50%NII – 15%, and Retail – 35%.
How to Apply the Smartworks Coworking IPO?

You can apply Smartworks Coworking IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
How to Apply the Smartworks Coworking IPO through Angle One?

Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Smartworks Coworking IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One.
How to Apply the Smartworks Coworking IPO through 5 Paisa?

Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Smartworks Coworking IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa.
How to Apply the Smartworks Coworking IPO through Upstox?

Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Smartworks Coworking IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.
How to Apply the Smartworks Coworking IPO through IIFL?

Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Smartworks Coworking IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL.
What is Smartworks Coworking IPO Size?

Smartworks Coworking IPO size is ₹582.56 Crore.
What is the Smartworks Coworking IPO Price Band?

Smartworks Coworking IPO Price Band is ₹387 to ₹407.
What is Smartworks Coworking IPO Minimum and Maximum Lot Size for Retail?

The minimum bid is 36 Shares with ₹14,652 while the maximum bid is 468 Shares with ₹1,90,476.
What is the Smartworks Coworking IPO Allotment Date?

Smartworks Coworking IPO allotment date is  15 July 2025.
What is the Smartworks Coworking IPO Listing Date?

Smartworks Coworking IPO listing date is  17 July 2025. The IPO is to be listed on BSE and NSE.
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