Smartworks Coworking Spaces IPO: Issue subscribed 30% so far on first day bidding
Published on 10/07/2025 02:25 PM
The initial public offering (IPO) of Smartworks Coworking Spaces, which opened for subscription on July 10, 2025, and will close on July 14, 2025, was subscribed 30 per cent by 2 pm on the first day of bidding.
According to data from the BSE, the issue received bids for 31,17,672 shares against the total offer size of 1,04,01,828 shares.
The non-institutional investors (NIIs) led the subscription activity, bidding for 11,73,996 shares, translating to 53 per cent of the allotted 22,17,233 shares, while the retail investors applied for 19,02,456 shares against the reserved 51,73,543 shares, reflecting a subscription of 37 per cent.
The employee quota saw a 35 per cent subscription, with bids for 37,728 shares out of 1,07,142 shares. Meanwhile, the qualified institutional buyers (QIBs) showed minimal interest with only 3,492 shares bid for out of the 29,03,910 shares reserved, marking 0 per cent subscription in this segment so far.
Smartworks aims to raise Rs 582.56 crore through the issue of 1,43,13,400 equity shares. Of this, Rs 445 crore (1,09,33,660 shares) will be raised via a fresh issue, and the remaining 33,79,740 shares (worth Rs 137.56 crore) will be offered through an offer for sale (OFS).
The price band has been fixed between Rs 387 and Rs 407 per share. Investors can bid for a minimum of 36 shares per lot, requiring an investment of at least Rs 13,932 in the retail category.
The net proceeds from the IPO will be used as follows:
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50 per cent reserved for Qualified Institutional Buyers (QIBs)
35 per cent for retail investors
15 per cent for non-institutional investors (NIIs) or HNIs
The IPO is being managed by JM Financial, BOB Capital Markets, IIFL Securities, and Kotak Mahindra Capital Company and MUFG Intime India is appointed as the registrar.
Smartworks Coworking Spaces is a leading provider of flexible office spaces and managed campuses. The company leases large bare-shell properties in key urban centres and transforms them into fully serviced, tech-enabled workspaces with amenities such as cafeterias, gyms, sports zones, and medical centres. Smartworks has a strong presence in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram, and Chennai.
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