Smartworks IPO closes with 1.9 times oversubscription
Smartworks Coworking Spaces's IPO wrapped up with strong interest, getting bids for 1.97 crore shares—almost double the 1.04 crore shares available.
Non-institutional investors led the charge, subscribing 3.76 times, while retail investors also showed up, subscribing 1.82 times at mostly the cut-off price.
India's largest managed workspace provider
Founded in 2015, Smartworks is India's largest managed workspace provider by leased area.
The company runs almost nine million sq ft of coworking spaces across 50 centers in 15 cities, catering to startups, SMEs, and big companies riding the hybrid work wave.
Price band, revenue, and net loss
The IPO ran from July 10 to July 14 and was priced between ₹387-₹407 per share. Share allotment happens on July 15 and listing is set for July 17, 2025.
Ahead of launch, Smartworks raised ₹173.6 crore from anchor investors.
For FY25, it posted revenue of ₹1,374.05 crore but reported a net loss of ₹63.17 crore.