Latest news with #SmartworksCoworkingSpaces'
Mint
3 days ago
- Business
- Mint
Smartworks Coworking Spaces IPO Day 3 Live: Issue subscribed 1.15x so far. Check GMP, key dates, more. Apply or not?
Smartworks Coworking Spaces IPO Day 3 Live: Smartworks Coworking Spaces' initial public offering, which is set to conclude today, Monday, July 14 has seen respectable subscription levels, primarily driven by Non-Institutional Investors (NIIs) and followed by retail investors. Smartworks Coworking Spaces IPO was available for public subscription on Thursday, July 10. Smartworks Coworking Spaces IPO price band has been set between ₹ 387 and ₹ 407 per share, with a face value of ₹ 10. The company has indicated that 50% of the total offering is allocated for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. The basis of share allotment for the Smartworks Coworking Spaces IPO is expected to be formalized on Tuesday, July 15. Refunds are scheduled to begin on Wednesday, July 16 and shares will be credited to the demat accounts of those who are successful in securing allotments on the same day as the refunds. The shares of Smartworks Coworking Spaces are likely to debut on the BSE and NSE on Thursday, July 17. Smartworks Coworking Spaces Limited focuses on delivering customized managed workspace solutions, offering fully serviced office environments that are enhanced with technology, appealing designs, and essential amenities tailored to meet the specific needs of businesses and their employees. The company serves mid-to-large enterprises, including Indian firms, multinational corporations, and startups, providing modern campuses that feature design, technology, and amenities such as cafeterias, fitness centers, childcare services, and healthcare facilities to support employee well-being. Smartworks Coworking Spaces IPO subscription status was 1.15 on day 2. The retail portion was subscribed 1.18 times, and NII portion has been booked 1.79 times, Qualified Institutional Buyers (QIBs) portion has received 63% bids. The employee portion has been booked 1.01 times. The company has received bids for 1,20,00,600 shares against 1,04,01,828 shares on offer, according to data on BSE.
Economic Times
6 days ago
- Business
- Economic Times
Smartworks Coworking IPO subscribed 73% so far on Day 2; GMP at 7%. Check details
Smartworks Coworking Spaces' IPO has seen 73% subscription on Day 2, driven by strong NII interest. The IPO aims to raise between Rs 576 crore and Rs 583 crore, with proceeds allocated for expansion and debt repayment. While analysts offer mixed recommendations, citing growth potential versus profitability concerns, the company's strong revenue growth and market position are key factors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) The initial public offering (IPO) of Smartworks Coworking Spaces, which opened for subscription on July 10, has been subscribed 73% so far on Day 2 of the bidding process, driven by strong interest from non-institutional investors (NIIs).As of 12:14 pm today, NIIs had subscribed to the issue 1.36 times, applying for 30,21,372 shares against the 22,17,233 shares reserved for them. This was followed by retail investors, who subscribed to 86% of their allotted quota. Qualified institutional buyers (QIBs), however, bid for just 5,724 shares were trading at a premium of Rs 30–32 in the grey market, up from Rs 25–27 before the IPO launch. This reflects a grey market premium (GMP) of about 7.4%, compared to around 6% company is aiming to raise between Rs 576 crore and Rs 583 crore through a mix of a fresh issue and an offer for sale. The IPO is open for subscription until July 14, with the listing scheduled for July 17 on the BSE and issue includes a fresh equity issue worth Rs 445 crore and an offer for sale of 33.79 lakh shares. The price band has been set at Rs 387–407 per share, with an employee discount of Rs 37. Investors can bid in lots of 36 shares and in multiples the net proceeds, Rs 225.8 crore will be used for fit-outs and security deposits at new centres, while Rs 114 crore has been allocated for debt repayment. The remainder will be used for general corporate in 2015, Smartworks is India's largest managed workspace operator by leased area, with over 8.99 million sq ft spread across 50 centres in 15 cities as of March 31, 2025. It also operates two centres in company primarily caters to mid-to-large enterprises across sectors such as IT, BFSI, and startups. Operating on a straight lease model, Smartworks is gradually incorporating variable rental agreements to enhance cost has demonstrated robust revenue growth, with operational income nearly doubling from Rs 711.39 crore in FY23 to Rs 1,374.05 crore in FY25. EBITDA improved significantly to Rs 857.26 crore in FY25. However, the company remains loss-making, reporting a net loss of Rs 63.17 crore in FY25, although margins have been of March 2025, the company had an occupancy rate of 83.1%, catering to 738 enterprise clients across a total seating capacity exceeding 2 addition to its core offerings, Smartworks provides value-added services such as wellness zones, convenience stores, and design-build (FaaS) solutions to strengthen its enterprise-focused IPO is being managed by JM Financial , BOB Capital Markets, IIFL Securities , and Kotak Mahindra You Subscribe? Analysts at Anand Rathi believe the IPO is fully priced and have assigned a 'Subscribe – Long Term' rating. The brokerage notes that at the upper price band, the company is valued at a price-to-sales (P/S) ratio of 3.3x, with an EV/EBITDA of 9.7x and a post-issue market cap of Rs 46,448 Securities, on the other hand, has issued an 'Avoid' rating for the IPO. The firm believes that other players like Awfis Space Solutions offer better investment opportunities in the coworking space, as Awfis is currently profitable and trades at a FY25 EV/Adjusted EBITDA multiple of Broking has recommended a 'Subscribe for Long Term' rating, citing Smartworks' position as a leading provider of office experience and managed campus platforms, with a focus on long-term contracts with the company has shown strong top-line growth and positive cash EBITDA at the gross level, it continues to report net losses due to provisioning under new accounting standards. Smartworks operates with high lease liabilities under fixed-cost agreements across centres, leading to significant interest and depreciation expenses under Ind AS 116. This accounting treatment boosts EBITDA but exerts pressure on net profitability.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hans India
07-07-2025
- Business
- Hans India
IPO-bound Smartworks' losses swell 21 pc to over Rs 63 crore in FY25
Mumbai: Smartworks Coworking Spaces' losses widened to Rs 63.17 crore in FY25, a rise of Rs 13.22 crore against FY24 losses, the company said in its red herring documents on Monday ahead of its initial public offering (IPO). The co-working space provider's net loss stood at Rs 49.95 crore in the preceding 2023-24 financial year. The IPO opens for public subscription on July 10 and concludes on July 14. The price band has been fixed at Rs 387-407, and investors had to buy a lot of 36 shares to place a bid, according to the red herring prospectus. The shares allocation to anchor investors will take place on July 9. The IPO is a combination of fresh shares worth Rs 445 crore and an offer for sale of 3,379,740 equity shares. Earlier, Smartworks had planned to raise over Rs 550 crore through selling fresh shares, but they reduced it to Rs 445 crore. Similarly, the offer-for-sale (OFS) portion has been cut to 33.79 shares from 67.59 shares. NS Niketan LLP, SNS Infrarealty LLP and Space Solutions India Pte. Ltd are likely to offload their stake through OFS. Of the total funds raised, about Rs 226 crore will go toward capital expenditures for security deposits and fit-outs in new centres, Rs 114 crore will go toward loan repayments, and the remaining sum will be used for general business needs. Meanwhile, according to the company's RHP, operating revenue increased to Rs 1,374.05 crore in the last financial year as compared to Rs 1,039.36 crore in FY24. The Gurugram-based company presently operates in 48 locations with a combined seating capacity of over 1.9 lakh. JM Financial, BOB Capital Markets Limited, IIFL Capital Services, and Kotak Mahindra Capital Company Limited are the running lead managers for the Smartworks IPO, while MUFG Intime India Pvt Ltd is the registrar.
