Smartworks : IPO Launch Set for July 10 with Revised Offer Size

Smartworks' IPO is back in focus as the company prepares for its Initial Public Offering, scheduled to open on July 10. With a newly defined price band and a trimmed-down offer size, this IPO has caught the attention of investors tracking the coworking space segment.

Market Performance

While Smartworks is yet to make its stock market debut, the buzz around the Smartworks IPO stems from its unique business model in the rapidly expanding coworking industry. The company plans to get listed on both BSE and NSE with a tentative listing date of July 17.

Main News: IPO Details at a Glance

• IPO Open Date: July 10, 2025
• IPO Close Date: July 14, 2025
• Price Band: ₹387 – ₹407 per share
• Lot Size: Minimum 36 shares and in multiples thereof
• Implied Market Capitalization: ₹4,394 Crore to ₹4,645 Crore (upper band)

The company has revised its IPO size downward:

• Fresh Issue Reduced To: ₹445 Crore (previously ₹550 Crore)
• Offer For Sale (OFS): 33.79 lakh shares (down from 67.59 lakh shares)

Allotment & Listing Timeline

• IPO Allotment Date: July 15, 2025
• Tentative Listing Date: July 17, 2025
• Registrar: MUFG Intime India (Link Intime)
• Lead Manager: JM Financial

Company Details: What Smartworks Brings to the Table

Smartworks Coworking Spaces specializes in customised managed workspaces, offering tech-enabled, fully serviced office environments. The workspaces are designed with:

• Cafeterias
• Gyms
• Sports zones
• Medical centres
• High-end tech infrastructure

These modern campuses are leased to mid-to-large enterprises, primarily those requiring 300 or more seats. Their strategy focuses on:

• Leasing large bare-shell properties
• Converting them into modern, serviced offices
• Serving growing corporate demand in India's top commercial cities

Geographic Footprint

Smartworks operates in:

• Bengaluru
• Mumbai Metropolitan Region
• Hyderabad
• Gurugram
• Chennai

Growth Trajectory

Between FY23 and FY25, Smartworks added 2.83 million sq. ft. of managed space. This reflects a CAGR of 20.80%, underscoring its aggressive expansion.

Financial Breakdown of the IPO

Revenue Utilization

From the proceeds of the IPO:

• ₹226 Crore will be allocated toward capital expenditure, specifically for fit-outs and security deposits for new centres.
• ₹114 Crore will be used to repay existing debt.
• The remaining amount will be utilised for general corporate purposes.

Summary of the Article

• Smartworks' share price is tied to an upcoming IPO with a price band of ₹387–₹407 per share.
• The IPO opens on July 10 and closes on July 14.
• The total offer size has been reduced, with lower fresh issue and OFS volumes.
• Funds raised will be allocated to expansion, debt repayment, and general corporate needs.
• The listing is expected on July 17 on the NSE and BSE.
• The company's modern, tech-enabled campuses cater to large corporate clients across India's key commercial hubs.