Smartworks debuts strongly on stock exchange
Smartworks Coworking Spaces kicked off its stock market journey with shares listing at ₹436—about 7% above the issue price of ₹407 and near the top end of its price band.
The IPO was a hit, getting subscribed nearly 14 times overall, with especially high demand from big institutional and non-institutional investors.
India's largest managed office space provider
Smartworks is India's largest managed office space provider, running over 1.69 lakh seats across major cities and serving more than 700 companies as of March 2025.
They design fully serviced, tech-enabled campuses for mid-to-large enterprises—think offices with cafeterias, gyms, and even medical centers.
While net losses widened to ₹63 crore in FY25, revenue jumped to ₹1,374 crore (up from ₹1,039 crore last year), showing solid business growth.
Strong listing shows continued investor interest in coworking spaces
Money raised from the IPO will help Smartworks pay down debt and expand further.
Their managed space grew at an impressive 38% CAGR between 2020-24—faster than most in the industry.
Even with losses, EBITDA rose by 30% to ₹172 crore in FY25.
The strong listing shows investors are still excited about India's coworking sector—even when profits are a work in progress.