Smartworks Coworking IPO debuts with modest gains
Smartworks Coworking Spaces made its stock market debut on Thursday.
The IPO was priced between ₹387 and ₹407 per share and saw high demand—subscribed nearly 14 times, with the biggest interest from big institutional investors.
Serviced office spaces for clients
Smartworks runs over 2 lakh coworking seats across 50 centers in 15 cities, serving more than 700 clients—think multinationals and startups.
They offer fully serviced, tech-enabled office spaces with perks like cafeterias, gyms, creches, and medical centers.
For FY25, revenue hit ₹1,374 crore; while they posted a net loss of ₹63 crore, their EBITDA jumped by 30% to ₹857 crore.
IPO included fresh issue, offer for sale
The IPO included a fresh issue of ₹445 crore plus an offer for sale worth ₹137.56 crore from early backers.
Anchor investors had already put in ₹174 crore before allotment wrapped up on July 15.
Refunds and share credits were sorted before today's listing.