Smartworks Coworking IPO subscription status: The initial public offering (IPO) of Smartworks Coworking concluded on Monday, July 14. The issue closed with healthy subscription at the end of the bidding period, led by strong demand from qualified institutional buyers (QIBs).
Following the closure of the Smartworks Coworking IPO, investor focus will shift to its allotment. Smartworks Coworking IPO allotment date is July 15, 2025. Investors can check the IPO allotment on the BSE, NSE websites.
The mainboard IPO, which opened on July 10, saw a decline in its grey market premium (GMP) as the issue progressed.
Smartworks Coworking IPO Subscription Status
Smartworks Coworking IPO was subscribed 13.45 times on the last day of the book-building process. The retail portion was subscribed 3.53 times, while the NII portion was booked as much as 22.78 times. The qualified institutional buyers portion was booked 24.41 times on the last day, and the employee portion was booked 2.38 times.
Smartworks Coworking IPO GMP
Smartworks Coworking IPO GMP on its closing day is ₹14, ₹6 lower than Smartworks Coworking IPO GMP on the previous day. At the prevailing GMP, the company shares could list at ₹421, a 3.44% premium.
However, investors must note that GMPs are subject to change and should not be the only factor determining their investment choice. They should also consider company fundamentals and risk appetite before investing.
Smartworks Coworking IPO Details
Smartworks, which is India’s largest managed campus operator, launched its IPO last week, looking to raise ₹ 582.6 crore.
Smartworks Coworking IPO is a mix of a fresh issue of ₹455 crore and an offer for sale of ₹137.6 crore. The company’s IPO price band was set at ₹387 to ₹407 per share. The investors could place a bid lot for a minimum of 36 shares and in multiples thereof. For retail investors, the minimum application price is ₹14,652 based on the upper end of the price band.
The IPO proceeds will be used for partial pre-payment of certain borrowings, capital expenditure for fit-outs in the new centres and for security deposits of the new centres, and general corporate purposes.
Financial Snapshot
In terms of financial performance, Smartworks’ revenue from operations grew at a CAGR of 38.9% from ₹711 crore to ₹1,374 crore between FY23-FY25.
This growth was driven by aggressive office space expansion and continuous demand from enterprise clients. EBITDA grew from ₹424 crore to ₹857 crore between the same period.
Over the past three years, the company has reported losses at the Profit after Tax (PAT) level due to heavy depreciation and other non-cash items, despite generating positive operating cash flows. It has a net debt of ₹299 crore.
