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Business Standard
21 hours ago
- Business
- Business Standard
Smartworks Coworking Spaces IPO ends with 13.45x subscription
The offer received bids for 13.99 crore shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 13,99,09,320 shares as against 1,04,01,828 shares on offer. The issue was subscribed 13.45 times. The Qualified Institutional Buyers (QIBs) category was subscribed 24.41 times. The Non-Institutional Investors (NIIs) category was subscribed 22.78 times. The Retail Individual Investors (RIIs) category was subscribed 3.53 times. The issue opened for bidding on 10 July 2025 and it closed on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. The issue comprised a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33,79,740 shares including 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake. Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centres, and the balance will be used for general corporate purposes. The companys total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025. Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is Indias largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centers in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities. Its top marketsPune, Bengaluru, Hyderabad, and Mumbaiaccounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward. Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors. The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.
Business Standard
2 days ago
- Business
- Business Standard
Smartworks Coworking Spaces IPO subscribed 13.45 times
The offer received bids for 13.99 crore shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 13,99,08,852 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:30 IST on Monday (14 July 2025). The issue was subscribed 13.45 times. The issue opened for bidding on 10 July 2025 and it will close on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof. The issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33,79,740 shares including 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake. Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centres, and the balance will be used for general corporate purposes. The companys total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025. Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is Indias largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centres in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities. Its top marketsPune, Bengaluru, Hyderabad, and Mumbaiaccounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward. Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors. The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.
Business Standard
5 days ago
- Business
- Business Standard
Smartworks Coworking Spaces IPO subscribed 1.19 times
The offer received bids for 1.19 crore shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 1,19,96,496 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:00 IST on Friday (11 July 2025). The issue was subscribed 1.19 times. The issue opened for bidding on 10 July 2025 and it will close on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof. The issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33,79,740 shares including 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake. Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centres, and the balance will be used for general corporate purposes. The companys total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025. Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is Indias largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centres in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities. Its top marketsPune, Bengaluru, Hyderabad, and Mumbaiaccounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward. Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors. The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.
Business Standard
6 days ago
- Business
- Business Standard
Smartworks Coworking Spaces IPO subscribed 0.50%
The offer received bids for 52.21 lakh shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 52,21,188 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:00 IST on Thursday (10 July 2025). The issue was subscribed 0.47 times. The issue opened for bidding on 10 July 2025 and it will close on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof. The issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 3,379,740 sharesincluding 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake. Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centers, and the balance will be used for general corporate purposes. The companys total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025. Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is Indias largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centers in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities. Its top marketsPune, Bengaluru, Hyderabad, and Mumbaiaccounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward. Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors. The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.
Economic Times
6 days ago
- Business
- Economic Times
Smartworks Coworking IPO opens today. Check GMP, price band and other details
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Smartworks Coworking Spaces is set to launch its initial public offering (IPO) on July 10, aiming to raise between Rs 576 crore to Rs 583 crore through a combination of fresh issue and offer for sale. The public issue will close on July 14, with listing slated for July 17 on the BSE and IPO comprises a fresh issue of shares worth Rs 445 crore and an offer for sale of 33.79 lakh equity shares. The price band is fixed at Rs 387 to Rs 407 per share, with an employee discount of Rs 37. Investors can bid in lots of 36 shares and multiples thereof. Ahead of the issue opening, the company's GMP is around 8% over the issue incorporated in 2015, is India's largest managed campus operator by leased area, offering over 8.99 million sq ft across 50 centres in 15 Indian cities, as of March 31, also operates two centres in Singapore. The company primarily targets mid-to-large enterprises, with clients spanning IT, BFSI, and startups, and operates on a straight lease model complemented by newer variable rental contracts.A significant portion of the IPO proceeds—Rs 225.8 crore—will go towards fit-outs and security deposits for new centres, while Rs 114 crore is earmarked for debt repayment. The rest will be used for general corporate by strong promoter leadership, including founder Neetish Sarda and co-founder Harsh Binani, Smartworks has built a differentiated value proposition with its enterprise-first strategy and tech-integrated workplace financials reflect rapid growth: revenue from operations rose from Rs 711.39 crore in FY23 to Rs 1,374.05 crore in FY25, while EBITDA more than doubled to Rs 857.26 crore in the same period. However, the company remains loss-making, with a net loss of Rs 63.17 crore in FY25, though margins have of March 2025, Smartworks had an occupancy rate of 83.1% across operational centres and a client base of 738 enterprises, supported by a seat capacity of over 2 company's business model also includes value-added services like wellness zones, convenience stores, and design-build (FaaS) a growing footprint and a tilt toward capital-efficient leasing strategies, Smartworks' IPO will be closely watched by investors seeking exposure to India's fast-evolving commercial real estate and flexible workspace issue will be managed by a consortium of lead book-running managers including JM Financial , BOB Capital, IIFL Capital, and Kotak Mahindra Capital.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
