The stock market opened steady today, but one listing stood out and grabbed early attention—Workmates Core2Cloud Solution’s IPO debut on the BSE SME platform. The company entered the market with strong momentum, setting the tone for an active session in the broader stock market today.
As investors tracked the listing action closely, the debut carried the same energy that surrounded the issue during the subscription phase.
Market Performance: A Power-Packed Debut
Workmates Core2Cloud Solution began its IPO listing on a high note, opening at a sharp premium over its issue price.
However, the session didn’t stay one-sided for long, as quick profit-booking emerged soon after the first trade.
Key Listing Highlights
- Listing price: ₹387.60 on BSE SME
- Premium over issue price: 90%
- Lower price band after profit booking: ₹368.25
- Returns for IPO investors: ~80.51%
By 10:05 am, the scrip had already hit its 5% lower circuit limit, reflecting the early selling pressure despite the impressive opening.
The action-packed debut kept Workmates on the radar through the morning, as traders watched how the stock stabilised after the initial volatility.
Main News: Subscription Momentum Reflected on Listing Day
The strong debut didn’t arrive out of thin air. Workmates Core2Cloud Solution had already displayed exceptional traction during its IPO bidding window, which wrapped up earlier this month.
The company’s public issue saw overwhelming interest across every investor category, pointing to wide market participation.
IPO Subscription Breakdown
- Total bids received: 32,40,34,800 shares.
- Shares offered: 22,92,000
- Overall subscription: 141.38 times
- Qualified Institutional Buyers (QBs): 147.03 times
- Non-Institutional Investors (NIIs): 202.96 times
- Retail Investors: 111.64 times
Every category showed broad enthusiasm, with NIIs leading the charge. The strong subscription numbers set clear expectations that listing day could carry robust action—and that’s exactly how the session opened.
Company Details: What Workmates Core2Cloud Solution Does
Workmates Core2Cloud Solution operates in the cloud consulting and digital transformation space, offering modern, scalable cloud-based solutions to clients across sectors.
The company has built a strong presence since its inception, with a business model focused on cloud integration, cloud-native applications, and secure digital infrastructure.
Its customer roster spans finance, healthcare, retail, e-commerce, and media—reflecting broad demand for its cloud offerings.
IPO Structure
- Issue size: ₹70 crore
- Price band: ₹200–₹204
- Fresh issue: ₹59 crore
- Offer for sale: Nearly ₹11 crore.
Use of Fresh Issue Proceeds
- ₹8.60 crore allocated for repayment of certain loans
- ₹29.20 crore earmarked for working capital needs
- The remaining amount is to be used for general corporate purposes
These allocations underline the company’s priority to strengthen liquidity, reduce debt burden, and support its ongoing operational requirements.
Summary
Workmates Core2Cloud Solution made a strong entrance into the market with a 90% premium listing on the BSE SME platform, reflecting the heavy demand seen during the IPO.
Though the stock faced profit-booking pressure shortly after its debut, IPO investors continued to hold healthy gains.
The company’s solid subscription numbers, combined with its cloud-focused business model and diversified client base, created substantial interest ahead of listing day—and that momentum played out in today’s session.
The listing keeps Workmates in focus as market participants track how the stock stabilises in the coming days.
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