Smartworks Coworking Spaces IPO Day 1: Issue subscribed 50%
The initial public offer of Smartworks Coworking Spaces Ltd got subscribed 50 per cent on the first day of share sale. According to NSE data, IPO received bids for 52,21,188 shares against 1,04,01,828 shares on offer. The portion for non-institutional investors got fully subscribed, while the quota for Retail Individual Investors (RIIs) garnered 57 per cent subscription.
Smartworks Coworking Spaces IPO has fixed the price band at Rs 387 to Rs 407 per equity share.
MUFG Intime India Private Limited is the registrar for Smartworks Coworking Spaces IPO.
The face value and tick size of Smartworks Coworking Spaces IPO is RS 10 and Re 1, respectively.
According to the details available, the Smartworks Coworking Spaces IPO will be finalised on July 15.
Smartworks Coworking Spaces Limited's shares are proposed to be listed on NSE, and BSE. The listing will likely take place on July 17.
JM Financial Limited, BOB Capital Markets Limited, IIFL Capital Services Limited are the book running lead managers for Smartworks Coworking Spaces IPO.
Kotak Mahindra Bank Limited and HDFC Bank Limited are the Smartworks Coworking Spaces IPO.
Smartworks takes on lease office spaces from landlords and then sub-leases the areas to corporates. It has an operational portfolio of 8.31 million square feet area while 0.7 million square feet is under fit-outs. The company has taken on lease another 1.7 million square feet area from landlords, but it has not obtained possession to set up the centres. The total portfolio will cross 10 million square feet, including spaces under fit-outs and signed.
(With inputs from PTI)
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