Smartworks Coworking Spaces IPO: The initial public offering (IPO) of Smartworks Coworking Spaces (SCS) is set to open on July 10, 2025, and will remain open for subscription until Monday, July 14. The company aims to raise Rs 582.56 crore for capital expenditure on fit-outs for new centres, provide security deposits, repay loans, and cover general corporate expenses. The IPO will be conducted through the book-building route.

The issue consists of a fresh issue of 1.09 crore equity shares, amounting to Rs 445 crore, and an offer for sale (OFS) of 0.34 crore shares, aggregating to Rs 137.56 crore.

The fresh issue size has been revised downward from the earlier planned Rs 550 crore, while the OFS has been reduced to 33.79 lakh shares from 67.59 lakh shares.

The price band for the issue has been set between Rs 387 and Rs 407 per share. Retail investors can apply for a minimum lot size of 36 shares, which requires a minimum investment of Rs 13,932. At the upper end of the price band, the company’s market capitalisation is estimated to be around Rs 4,645 crore.

Utilisation of proceeds

• Rs 226 crore for capital expenditure related to fit-outs and security deposits for new centres
• Rs 114 crore for loan repayment, and the remaining amount for general corporate purposes.

IPO allocation structure

The IPO allocation is structured as follows:

• 50 per cent reserved for QIBs
• 35 per cent for retailers
• 15 per cent for NIIs

Smartworks Coworking Spaces: BRLMs, registrar details

The IPO is being managed by JM Financial, BOB Capital Markets, IIFL Securities, and Kotak Mahindra Capital Company, while MUFG Intime India Private appointed as registrar.About Smartworks Coworking Spaces

About SCS

Smartworks Coworking Spaces is a leading provider of office spaces and managed campuses. The company leases large, bare-shell properties in key urban locations and transforms them into modern, fully serviced, and tech-enabled campuses. These spaces include amenities such as cafeterias, gyms, sports zones, and medical centres. It has a strong presence in cities including Bengaluru, the Mumbai Metropolitan Region, Hyderabad, Gurugram, and Chennai.