Smartworks Coworking Spaces Lists at ₹435, Marks Promising Start Post-IPO

by Priya

Posted on July 17, 2025

Smartworks Coworking Spaces: IPO Listing Highlights

Debut Performance

• Smartworks Coworking Spaces shares debuted at ₹435 on the NSE, a 6.88% premium over the IPO issue price of ₹407 per share.
• The stock also opened at ₹436.10 on the BSE, reflecting a 7.15% gain over the issue price.
• The listing aligns closely with the anticipated grey market premium, signaling a healthy market reception.

IPO Details

• Issue Price Band: ₹387 – ₹407 per equity share.
• IPO Size: ₹582–583 crore, consisting of:
  • Fresh Issue: ₹445 crore (10.9 million shares)
  • Offer for Sale (OFS): Up to ₹137.56 crore (3.4 million shares).
• Subscription: The IPO was oversubscribed 13.92 times overall.
  • Institutional (QIB): 24.92 times
  • Non-Institutional (NII): 23.68 times
  • Retail: 3.69 times.

Use of Proceeds

• The company plans to use the net proceeds from the fresh issue to:
  • Repay or prepay certain borrowings
  • Invest in capital expenditure for fit-outs in new centres
  • Cover security deposits for new centres
  • Fund general corporate purposes.

Investor Takeaways

• Smartworks is one of India’s leading managed office space providers, catering to large corporates, multinationals, and startups.
• Despite a robust operational performance (with a reported EBITDA growth of 30% YoY), the company continues to report net losses, with a net loss of ₹63 crore in FY25.
• The minimum investment for retail investors was one lot (36 shares), totaling approximately ₹13,932.
• The strong interest from investors, especially QIBs and NIIs, signals confidence in Smartworks’ business model and future prospects.

Summary Table

Smartworks Coworking Spaces’ healthy debut reflects both strong investor demand and positive market sentiment towards India’s flexible workspace sector.

Ref: Smartworks Coworking Spaces shares list at 7% premium over IPO price on NSE; should you buy, sell or hold?