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Business Standard
2 hours ago
- Business
- Business Standard
Smartworks Coworking ₹582-cr IPO kicks off today; should you apply or not?
Smartworks Coworking IPO: Gurugram-based Smartworks Coworking Spaces, a workspace solutions company, is set to launch its initial public offering (IPO) today, July 10, 2025. At the upper end of the price band of ₹387 to ₹407, the company aims to raise ₹582.56 crore. Ahead of the opening of the issue, Smartworks raised around ₹174 crore from anchor investors. The company allotted 4.27 million equity shares at the upper price band of ₹407 per share with a face value of ₹10 per share to 13 anchor investors, according to the exchange filing. Out of the total allocation, 32.04 per cent was allocated to three domestic mutual funds, including Tata Mutual Fund, Baroda BNP Paribas and Trust Mutual Fund, which have applied through a total of four schemes. 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 IPO GMP The unlisted shares of Smartworks were trading at ₹439 in the grey market, up ₹32 or 7.8 per cent from the upper end price, according to sources tracking unofficial market activities. Check Travel Food Services IPO allotment status Smartworks Coworking IPO: Should you subscribe or not? Anand Rathi Research - Subscribe for long term According to analysts at Anand Rathi Research, Smartworks runs a cost-efficient and scalable model with fit-out and operating costs significantly lower than industry benchmarks. The company is also shifting to an asset-light strategy through variable rental and management contracts, improving capital efficiency. Additional revenue streams like value-added services and Fit-out-as-a-Service further strengthen its business. "At the upper price band, the company is valued at P/S of 3.3x with EV/Ebitda of 9.7x and market cap of ₹4,644.8 crore post issue of equity shares," the brokerage said in a research note. Analysts believe that the IPO is fully priced and recommend a 'Subscribe- Long term' rating to the IPO. Smartworks Coworking IPO details Smartworks Coworking is a book-built issue comprising a fresh issue of 10.9 million equity shares aggregating to ₹455 crore and an offer for sale (OFS) of 3.4 million shares aggregating to ₹137.56 crore. NS Niketan, SNS Infrarealty and Space Solutions India are the selling shareholders. Investors can bid for a minimum of one lot or 36 shares of Smartworks and in multiples thereof. According to the red herring prospectus (RHP), the company intends to utilise the net fresh issue proceeds to repay debt and capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres. The remaining funds will be used for general corporate purposes. The three-day subscription window to bid for the issue will conclude on Monday, July 14, 2025. Following the closure of the subscription window, the basis of allotment of shares is likely to take place on Tuesday, July 15, 2025. Shares of Smartworks are scheduled to make their D-street debut on Thursday, July 17, 2025, by listing on the BSE and NSE.
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Business Standard
5 hours ago
- Business
- Business Standard
Smartworks Coworking ₹582 crore IPO kicks of today; should you apply or not
Smartworks Coworking IPO: Gurugram-based Smartworks Coworking Spaces, a workspace solutions company, is set to launch its initial public offering (IPO) today, July 10, 2025. At the upper end price, the company aims to raise ₹582.56 crore. Ahead of the opening of the issue, Smartworks raised around ₹174 crore from anchor investors. The company allotted 4.27 million equity shares at the upper price band of ₹407 per share with a face value of ₹10 per share to 13 anchor investors, according to the exchange filing. Out of the total allocation, 32.04 per cent was allocated to three domestic mutual funds, including Tata Mutual Fund, Baroda BNP Paribas and Trust Mutual Fund, which have applied through a total of four schemes. 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 IPO GMP The unlisted shares of Smartworks were trading at ₹439 in the grey market, up ₹32 or 7.8 per cent from the upper end price, according to sources tracking unofficial market activities. Smartworks Coworking IPO: Should you subscribe or not? Anand Rathi Research - Subscribe for long term According to analysts at Anand Rathi Research, Smartworks runs a cost-efficient and scalable model with fit-out and operating costs significantly lower than industry benchmarks. The company is also shifting to an asset-light strategy through variable rental and management contracts, improving capital efficiency. Additional revenue streams like value-added services and Fit-out-as-a-Service further strengthen its business. "At the upper price band, the company is valued at P/S of 3.3x with EV/Ebitda of 9.7x and market cap of ₹4,644.8 crore post issue of equity shares," the brokerage said in a research note. Analysts believe that the IPO is fully priced and recommend a 'Subscribe- Long term' rating to the IPO. Smartworks Coworking IPO details Smartworks Coworking is a book-built issue comprising a fresh issue of 10.9 million equity shares aggregating to ₹455 crore and an offer for sale (OFS) of 3.4 million shares aggregating to ₹137.56 crore. NS Niketan, SNS Infrarealty and Space Solutions India are the selling shareholders. Smartworks IPO is available at a price band of ₹387-407 per share, with a lot size of 36 shares. Accordingly, investors can bid for a minimum of one lot or 36 shares of Smartworks and in multiples thereof. According to the red herring prospectus (RHP), the company intends to utilise the net fresh issue proceeds to repay debt and capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres. The remaining funds will be used for general corporate purposes. The three-day subscription window to bid for the issue will conclude on Monday, July 14, 2025. Following the closure of the subscription window, the basis of allotment of shares is likely to take place on Tuesday, July 15, 2025. Shares of Smartworks are scheduled to make their D-street debut on Thursday, July 17, 2025, by listing on the BSE and NSE. MUFG Intime India, formerly Link Intime, is the registrar for the issue. JM Financial, BOB Capital Markets, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers.
Mint
26-06-2025
- Business
- Mint
Anand Rathi sees 40% rally in multibagger healthcare stock despite 600% rise in five years
Stock Market Today: Anand Rathi sees a 40% rally in a Multibagger healthcare stock. This is despite a 600% rise in five years in the Indraprastha Medical Corporation Ltd. share price. Check details Anand Rathi remains positive on the Multibagger healthcare stock Indraprastha Medical Corporation, maintaining it as a top pick, and expects about 40% upside to the target price of ₹ 590. The Indraprastha Medical Corporation share price has risen more than 69% in a year. while it has grown almost 4-fold in the last two years. The Indraprastha Medical Corporation share price is up almost 613% in the last 5 years and has given Multibagger returns to the investors. The primary re-rating trigger, as per Anand Rathi Research, is the Delhi government's stake sale expectation in the company As per Anand Rathi, referring to their interaction with the management, they say that it was revealed that the promoters are negotiating to purchase all or a portion of the Delhi government's 26% stake, which they currently hold. Although the timeline is uncertain, as per Anand Rathi Research, they think that if the deal proceeds, it will create more room for expansion in both emerging and existing regions, including the NCR. Indraprastha is expanding its bed capacity from the present 802 beds. The expansions at its current location in Sarita Vihar (Delhi) are in accordance with the industry's expansion of bed capacity, with 350 beds anticipated to be added by mid-CY28. The projected cost of this is ₹ 580 crore. About 40% of the project's cost is anticipated to be spent in FY26, with the remaining amount falling in FY27 and FY28. Because the corporation is spending about Rs1.8 billion to create two underground floors for parking (about 1,300 automobiles and 350+ two-wheelers), the cost per bed is greater for this site. The goal is to increase the number of beds to approximately 1,800 at one location, which would likely be the largest number of beds at one location. Anand Rathi research says that, further, with the new government coming in, Delhi should augur well for the company as it can expedite the Delhi government's stake sale to the promoters (can be an option value). They have broadly maintained their estimates for FY26 and FY27. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
26-06-2025
- Business
- Business Standard
Indogulf Cropsciences IPO opens today: GMP at 10%, should you subscribe?
Indogulf Cropsciences IPO: The initial public offering (IPO) of Delhi-based agrochemical company, Indogulf Cropsciences, will open for public subscription today, June 26. At the upper price band, the company aims to raise ₹200 crore. Ahead of opening of the issue, Indogulf Cropsciences has raised ₹58.19 crore from anchor investors. The company allocated 5.25 million equity shares at the upper price band of ₹111 per share with a face value of ₹10 per share, according to the exchange filing. Abakkus Diversified Alpha Fund, Viney Growth Fund, Swyom India Alpha Fund, Sunrise Investment Trust, and Rajasthan Global Securities were the anchor investors who participated in the public issue. Indogulf Cropsciences IPO grey market premium (GMP) The unlisted shares of Indogulf Cropsciences were trading at ₹122 in the grey market, ₹11 or 9.9 per cent, according to sources tracking unofficial market activities. Here are the key details of the Indogulf Cropsciences IPO: Indogulf Cropsciences aims to raise ₹200 crore through a combination of fresh issue of 14.4 million equity shares, aggregating to ₹160 crore and offer-for-sale (OFS) of 3.6 million shares aggregating to ₹40 crore. Indogulf Cropsciences lot size, price band Indogulf Cropsciences IPO is available at a price band of ₹105-111 per share, with a lot size of 135 shares. To bid at least one lot of the IPO, a retail investor would require a minimum investment amount of ₹14,175. Retail investors can bid for a maximum of 14 lots or 1,890 shares, amounting to ₹1,98,450. Indogulf Cropsciences IPO allotment date, listing date The three-day subscription window to bid for the issue will close on Monday, June 30, 2025. Following the closure of the subscription window, the basis of allotment of shares is expected to be finalised on Tuesday, July 1, 2025. Shares of Indogulf Cropsciences will make their debut on the bourses, BSE and NSE, tentatively on Thursday, July 3, 2025. Indogulf Cropsciences IPO registrar, lead manager Bigshare Services is the registrar for the issue. Systematix Corporate Services is the book-running lead manager. Indogulf Cropsciences IPO objective According to the red herring prospectus (RHP), the company intends to utilise ₹65 crore from the net fresh issue proceeds for funding its working capital requirements and ₹34.12 crore for repayment or prepayment of certain outstanding borrowings. In addition, ₹14 crore will be used for setting up an in-house dry flowable (DF) plant at Barwasni, District Sonipat in Haryana. The remaining funds will be used for general corporate purposes. Should you subscribe to the Indogulf Cropsciences IPO? Anand Rathi Research - Subscribe Analysts at Anand Rathi Research believe that the issue is fairly priced as based on the annualised FY25 it seeks a PE of 24.6 times, and post-issue market cap comes at ₹701.5 crore. The company has posted stable top and bottom lines despite raw material price volatility in past years. "We believe that Indogulf Cropsciences is well placed to achieve growth in the long run with its backward integrated manufacturing facilities, focused R&D capabilities, strong distribution and sales network and diversified product portfolio," the brokerage said in a note. Furthermore, since the industry that the company caters to is cyclical, highly dependent on government initiatives, shift in consumer preference for organic production and with its fully priced scenario, Indogulf is a long-term growth story which requires timely mass initiatives for agricultural boost, increased awareness of sustainable farming, the brokerage added. About Indogulf Cropsciences Incorporated in 1993, Indogolf Cropsciences operates in the agrochemical sector, specialising in the manufacturing of crop protection products, plant nutrients, and biologicals in India. The company manufactures and markets an extensive range of products in all types of available formulations such as water dispersible granules (WDG), suspension concentrate (SC), capsule suspension (CS), ultralow volume (ULV), emulsion in water (EW), soluble granule (SG), flowable suspension (FS), etc. which can be in powder, granules and liquid form to its customers. The company's diverse product portfolio caters to various crops, including cereals, pulses and oilseeds, fibre crops, plantations, and fruits and vegetables.
India Gazette
03-06-2025
- Business
- India Gazette
Unseasonal rains have dampened consumer demand, but rural growth provides positive outlook for FMCG sector: Report
New Delhi [India], June 3 (ANI): The Indian FMCG sector is facing mixed conditions, with unseasonal rains posing a challenge to the sales of summer-centric products, while rural markets outdid urban for the fourth straight quarter, a report said on Tuesday. According to the report by Anand Rathi Research, the unseasonal rainfall in April and May has dampened consumer demand for items like soft drinks, ice creams, prickly heat talc, and skincare products. Weather disruption has affected sales of items whose demand fluctuates with seasons but the report says that impact may be limited. Most FMCG companies remain optimistic about a rebound in demand. The expectation is that rural markets, which have shown strong growth, could be further bolstered by a normal monsoon season, offsetting some of the losses in summer product sales. The report also emphasizes that the FMCG sector is demonstrating resilience. While the unseasonal rains have posed a challenge, the sector's overall outlook remains largely positive. This optimism stems from several factors, primarily the continued strength of rural markets. Rural market outperformed urban market for the fourth consecutive quarter, with rural volume growth at a rate of 8.4%, which was nearly 4 times of the urban growth. 'Most companies are seeing stronger rural traction, while urban demand is muted, but gradual recovery is expected in coming quarters,' the report said. This rural strength is expected to continue, particularly with the anticipation of a normal monsoon season, which is crucial for agricultural output and rural incomes. A favourable monsoon would further fuel consumer spending in rural areas, potentially offsetting some of the losses incurred in the summer product segment due to the unseasonal rains. FMCG companies are banking on a gradual recovery in urban demand. While currently lagging behind rural markets, urban centers are expected to regain momentum in the coming quarters, contributing to a more balanced growth trajectory for the sector. Companies are also adapting to evolving consumer behaviour, with e-commerce and quick commerce channels playing an increasingly important role in FMCG sales. (ANI)
