Smartworks Coworking share price Live: Stock extends gain post decent listing, up over 6%

Smartworks Coworking share price made a positive debut on the bourses today. On NSE, Smartworks Coworking share price opened at ₹435 per share, 6.88% higher than the issue price of ₹407. On BSE, Smartworks Coworking share price today opened at ₹436.10 apiece, up 7.15% than the issue price.

Shares of Smartworks Coworking Spaces Limited will make its debut in the Indian stock market today. Smartworks Coworking IPO listing is scheduled at 10:00 IST on the bourses today (Thursday, July 17). Smartworks Coworking shares will be a part of Special Pre-open Session (SPOS), as per BSE notice. Experts predicted that the Smartworks Coworking IPO expected listing price is likely to see slight gains compared to its issue price. Smartworks Coworking IPO allotment status was finalised on Tuesday, July 15.

Smartworks Coworking Spaces IPO opened for subscription on Thursday, July 10 and closed on Monday, July 14. Smartworks Coworking IPO subscription status on the last bidding day was 13.45 times. The company fixed a price band of ₹387 to ₹407 per share for its IPO.

Smartworks Coworking Spaces Limited, a leading provider of managed flexible office spaces located in Gurugram, operates 48 co-working centers with a combined seating capacity of over 190,000. The company caters to mid-to-large enterprises, including Indian companies, multinational corporations, and startups, by offering contemporary campuses equipped with design, technology, and amenities such as cafeterias, gyms, crèches, and healthcare facilities for enhancing employee well-being.

According to Smartworks Coworking Spaces Limited is engaged in the business of customized managed workspace solutions,offering fully serviced, tech-enabled office environments with aesthetic designs and essential amenities to meet the specific needs of enterprises and their employees.

The company made a quiet in-line to positive debut on the stock market with a listing gain of approximately 7%, getting listed at around ₹435. The company has posted growth in its top lines with cash EBITDA at gross levels. Its thrust on MNC customers with long-term contracts has yielded desired benefits. Knowledgeable investors might park modest sums of money for the medium to long term, while others might take profits.

According to Jickson Sajee, Research Analyst, INVasset PMS, Smartworks isn’t just another coworking startup chasing millennial buzz—it’s India’s largest managed office space provider by area under management, clocking over 8 million sq. ft. across 13 cities and 41 centers. With a business model that blends long-term leases from landlords with customized workspace solutions for enterprises, it’s positioned closer to a B2B asset-light operator than a traditional coworking firm. Over 90% of its revenue comes from enterprise clients, reducing volatility tied to freelancers or startups.

Jickson Sajee believes valuation-wise, Smartworks is being offered at a market cap of ~ ₹4,645 crore, implying a P/S ratio of ~3.4x and P/B of ~8.4x. While peer Awfis trades at slightly richer multiples with a lower revenue base, its improving margin profile puts pressure on Smartworks to deliver similar profitability soon. EFC Ltd, another competitor, operates on a smaller scale but follows a more asset-heavy model. In essence, Smartworks offers scale and visibility—but the next leg of rerating hinges on margin expansion and break-even visibility.

Smartworks Coworking IPO allotment was finalised on Tuesday, July 15. The crediting of shares to demat accounts for individuals who have been granted shares took place on Wednesday, July 16. Further, on Wednesday it also marked the completion of the process of returning shares to individuals who have not yet received them. With strong support from qualified institutional buyers (QIBs), and non institutional investors (NIIS), Smartworks Coworking IPO subscription status was 13.45 times on the final day of bidding on Monday, July 14 as per BSE data.

According to a notice from BSE, trading members of the exchange are hereby notified that starting Thursday, July 17, 2025, the equity shares of Smartworks Coworking Spaces Limited will be listed and permitted for trading on the Exchange within the 'B' Group of Securities.

Mahesh M. Ojha, AVP Research & Business Development,Hensex Securities Pvt. Ltd, said that Smartworks Coworking IPO looks fairly priced . Ojha believes that one can see limited listing gain of 3-5%. Investor who have applied for listing gain they can book profit. Investor who have long-term horizon can hold the stock. Further, the industry outlook is positive.

Smartworks Coworking IPO GMP today is +25. This indicates Smartworks Coworking share price was trading at a premium of ₹25 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Smartworks Coworking share price was indicated at ₹432 apiece, which is 6.14% higher than the IPO price of ₹407.

According to the grey market activities from the past 13 sessions, today's IPO GMP is showing an upward trend, suggesting a robust listing. The minimum GMP recorded is ₹0.00, while the maximum GMP is ₹32, as per experts from investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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