Smartworks sets IPO price band at ₹387-₹407
Smartworks Coworking Spaces is launching its IPO with shares priced between ₹387 and ₹407.
The subscription window runs from July 10 to 14, and the total issue size is set at ₹583 crore—this includes a fresh issue of ₹445 crore and an Offer For Sale.
Listing is expected by July 17, with the company aiming for a market cap around ₹4,645 crore.
Business model
Smartworks transforms big, empty properties in cities like Bengaluru and Mumbai into modern coworking campuses for mid-to-large companies needing over 300 seats.
Their spaces come packed with extras like cafeterias, gyms, sports zones, and medical centers—basically everything teams need under one roof.
Smartworks has been growing fast too
The IPO funds will help Smartworks open more centers (₹226 crore), pay off loans (₹114 crore), and cover other business needs.
The company's been growing fast too—adding 2.83 million sq ft of managed space between FY23-FY25, with revenue jumping nearly 39% each year in that time.