Smartworks Coworking IPO Day 2: Issue fully subscribed; ends with 1.15 times subscription
On Friday, the Smartworks Coworking Spaces IPO got subscribed 1.15 times. The IPO received bids for 1,19,96,496 shares against 1,04,01,828 shares on offer, according to NSE data. The portion for non-institutional investors received 1.79 times subscription while the quota for retail individual investors (RIIs) got subscribed 1.18 times. The category for qualified institutional buyers (QIBs) received 63 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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