Smartworks Coworking Spaces IPO subscription opens on July 10. Check price band, allotment date and more
Smartworks Coworking Spaces has raised Rs 173.64 crore from anchor investors ahead of its initial public offer (IPO). In a regulatory filing on Wednesday, Smartworks finalised the allocation of 42,66,378 equity shares to anchor investors at Rs 407 per equity share.
Out of the total allocation of 42,66,378 shares to the anchor Investors, 32.04 per cent were allocated to three domestic mutual funds, which have applied through a total of four schemes. These three domestic mutual funds are Tata Mutual Fund, Baroda BNP Paribas and Trust Mutual Fund. Other investors are Axis New Opportunities AIF – Series II, SBI General Insurance Company Ltd, Aditya Birla Sun Life Insurance Company Ltd, Buoyant Opportunities Strategy II, Societe Generale, among others.
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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