Latest news with #SmartworksCoworkingSpacesLtd
Mint
6 hours ago
- Business
- Mint
Smartworks Coworking IPO: Workspace solutions provider raises ₹173 crore from anchor investors ahead of public issue
Smartworks Coworking IPO: Workplace solutions provider Smartworks Coworking Spaces Ltd completed its anchor investors round on Wednesday, 9 July 2025. The company raised ₹ 173.64 crore from the investors ahead of the company's initial public offering (IPO). Smartworks Coworking allocated a total of 42,66,378 or 42.66 lakh equity shares to the anchor investors at the allocation price of ₹ 407 per share with a lot size of ₹ 10 apiece, the company informed BSE in an exchange filing. Tata Mutual Fund, Aditya Birla Sun Life, Baroda BNP Paribas, SBI General Insurance, Societe Generale were among the total 13 allocations for the company's anchor book round. The BSE filing showed that the three domestic mutual funds were part of the anchor round, which subscribed through a total of four schemes. As of Wednesday, 9 July 2025, the grey market premium (GMP) of Smartworks Coworking IPO stands at ₹ 30 per share. With the upper price band at ₹ 407 per share, the shares of the company are expected to be listed at ₹ 437, with a premium of 7.37%, according to data collected from Investorgain. Grey market premium (GMP) is an indicator of the investors' willingness to apply for a public issue. The GMP rose by ₹ 2 to its current level of ₹ 30 after the company's anchor book round, compared to ₹ 28 per share on 8 July 2025. Smartworks Coworking Spaces is offering a book-built issue combining a mix of a fresh issue along with an offer-for-sale (OFS) component, with the aim to raise ₹ 582.56 crore from the Indian stock market. The IPO is scheduled to open for public bidding on Thursday, 10 July 2025 and will remain open until Monday, 14 July 2025. The company has fixed the price band for the public issue in the range of ₹ 387 to ₹ 407 per equity share, with a lot size of 36 shares per lot. Smartworks Coworking plans to repay some outstanding loans of the company, and also plans to keep money aside for the New Centres and for security deposits of the New Centres. The remaining funds will be used for general corporate purposes. JM Financial Limited, BOB Capital Markets Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers to the public issue, while MUFG Intime India Private Limited (Link Intime) is the registrar to the offer. Read all stories by Anubhav Mukherjee
Mint
8 hours ago
- Business
- Mint
Smartworks Coworking IPO: Workspace solutions provider raises ₹173 crore from anchor investors ahead of public issue
Smartworks Coworking IPO: Workplace solutions provider Smartworks Coworking Spaces Ltd completed its anchor investors round on Wednesday, 9 July 2025. The company raised ₹ 173.64 crore from the investors ahead of the company's initial public offering (IPO). Smartworks Coworking allocated a total of 42,66,378 or 42.66 lakh equity shares to the anchor investors at the allocation price of ₹ 407 per share with a lot size of ₹ 10 apiece, the company informed BSE in an exchange filing. Tata Mutual Fund, Aditya Birla Sun Life, Baroda BNP Paribas, SBI General Insurance, Societe Generale were among the total 13 allocations for the company's anchor book round. The BSE filing showed that the three domestic mutual funds were part of the anchor round, which subscribed through a total of four schemes. As of Wednesday, 9 July 2025, the grey market premium (GMP) of Smartworks Coworking IPO stands at ₹ 30 per share. With the upper price band at ₹ 407 per share, the shares of the company are expected to be listed at ₹ 437, with a premium of 7.37%, according to data collected from Investorgain. Grey market premium (GMP) is an indicator of the investors' willingness to apply for a public issue. The GMP rose by ₹ 2 to its current level of ₹ 30 after the company's anchor book round, compared to ₹ 28 per share on 8 July 2025. Smartworks Coworking Spaces is offering a book-built issue combining a mix of a fresh issue along with an offer-for-sale (OFS) component, with the aim to raise ₹ 582.56 crore from the Indian stock market. The IPO is scheduled to open for public bidding on Thursday, 10 July 2025 and will remain open until Monday, 14 July 2025. The company has fixed the price band for the public issue in the range of ₹ 387 to ₹ 407 per equity share, with a lot size of 36 shares per lot. Smartworks Coworking plans to repay some outstanding loans of the company, and also plans to keep money aside for the New Centres and for security deposits of the New Centres. The remaining funds will be used for general corporate purposes. JM Financial Limited, BOB Capital Markets Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers to the public issue, while MUFG Intime India Private Limited (Link Intime) is the registrar to the offer. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
17 hours ago
- Business
- Mint
Smartworks Coworking IPO opens tomorrow. GMP, review, other details in 10 points
Smartworks Coworking IPO: The initial public offering (IPO) of Smartworks Coworking Spaces Ltd will hit the Indian primary market on 10 July 2025, i.e. tomorrow. The public offer will remain open for bidders until 14 July 2025. This means the initial offer will remain open for bidders from Thursday this week to Monday next week. The company has declared the Smartworks Coworking IPO price band at ₹ 387 to ₹ 407 per equity share. The company aims to raise ₹ 582.56 crore, of which ₹ 137.56 crore is reserved for offer-for-sale (OFS). The remaining ₹ 445 crore is expected through the issuance of fresh shares. Smartworks Coworking IPO is proposed for listing on the BSE and the NSE. Ahead of the Smartworks Coworking IPO opening, company shares have debuted in the grey market. According to the market observers, Smartworks Coworking Spaces Ltd shares are available at a premium of ₹ 29 in the grey market today. 1] Smartworks Coworking IPO GMP today: According to the market observers, Smartworks Coworking Spaces Ltd shares are available at a premium of ₹ 29 in the grey market today. 2] Smartworks Coworking IPO subscription date: The public issue will open on 10 July 2025 and remain open until 14 July 2025. 3] Smartworks Coworking IPO price: The company has declared an IPO price band of ₹ 387 to ₹ 407 per equity share. 4] Smartworks Coworking IPO size: The public issue aims to raise ₹ 582.56 crore, a mix of fresh shares and OFS. 5] Smartworks Coworking IPO lot size: A bidder can apply in lots, and one lot of the public offer comprises 36 company shares. 6] Smartworks Coworking IPO allotment date: The most likely date for share allocation is 15 July 2025, which is Tuesday next week. 7] Smartworks Coworking IPO registrar: MUFG Intime India Private Limited (Link Intime) has been appointed registrar of the public issue. 8] Smartworks Coworking IPO lead managers: JM Financial, BoB Capital Markets, IIFL Capital Services, and Kotak Mahindra Capital have been appointed lead managers of the public issue. 9] Smartworks Coworking IPO listing date: The public issue is proposed for listing on the BSE and the NSE. Most likely date for share listing is 17 July 2025. 10] Smartworks Coworking IPO review: The market capitalisation of Smartworks Coworking Spaces IPO is ₹ 4644.82 crore. By the end of FY25, the company's ROCE was 42.30%, and the EBITDA Margin stood at 62.39%. The company's price-to-book is ₹ 38.58 per equity share. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Smartworks to retire high-cost debt, fund expansion with IPO proceeds
Bengaluru: Smartworks Coworking Spaces Ltd plans to retire high-cost debt and fund its expansion with the money it raises from its upcoming initial public offering of shares, top company executives said. The Gurugram-based flexible workspace operator is preparing to launch its ₹ 583-crore IPO on 10 July. The IPO will be a combination of a fresh issue of shares aggregating to ₹ 445 crore and an offer for sale (OFS) amounting to ₹ 137.56 crore. (No fresh shares will be issued as part of the OFS; the money will flow to investors selling the shares, not to the company.) Smartworks plans to use proceeds from the IPO, which will conclude on 14 July, for capital expenditure related to fit-outs and security deposits for its new centres, loan repayment, and general corporate purposes, managing director Neetish Sarda said in an interview. 'Post IPO, our net debt, which is around ₹ 299 crore, will reduce to ₹ 175 crore. The aim is to repay the high-cost debt, while the low-cost debt continues. Around ₹ 225 crore will be used to fund expansion,' Sarda said. Smartworks is among the largest managed workspace companies in India, with 41 centres in 14 cities. It is the second flexible office operator to go for a public listing in India after Awfis Space Solutions Ltd, which made its public market debut in May last year. The company plans to increase its portfolio from 10 million to 11.5 While Smartworks is present in all major cities in India and a number of smaller cities, about 45% of its portfolio is in western India, across Mumbai, Pune and Ahmedabad. Last year, Smartworks also entered Coimbatore. 'Smartworks has significantly expanded in the last 2-3 years and will continue to grow,' said executive director Harsh Binani. 'While we will continue to focus on our core managed workspace business, we think there is a good opportunity to also grow certain ancillary businesses since we take care of over 700 clients with nearly one lakh (100,000) employees.' India's total stock of flexible workspaces hit 74 million across the top seven cities in 2024. Property advisory JLL India in February estimated that the operational footprint of flexible workspaces across the top seven cities will surpass 100 million by 2026, underscoring the sector's pivotal role in shaping the country's evolving office landscape. Smartworks's net loss widened to ₹ 63.17 crore in 2024-25 from a loss of ₹ 49.95 crore in the preceding year. Revenue from operations rose to ₹ 1,374.05 crore in FY25 from ₹ 1,039.36 crore in the preceding year, as per the company's red herring prospectus for its IPO.
Deccan Herald
3 days ago
- Business
- Deccan Herald
Smartworks Coworking Spaces sets IPO price band at Rs 387 to Rs 407 per share
New Delhi, Smartworks Coworking Spaces Ltd on Monday fixed a price band of Rs 387-407 per share for its Rs 583 crore Initial Public Offering (IPO)..The IPO is scheduled to open for public subscription on July 10 and conclude on July 14, and the bidding for anchor investors would open for a day on July 9, the company company has revised its IPO size downward. The fresh issue has been reduced to Rs 445 crore from the earlier planned Rs 550 crore, while the Offer for Sale (OFS) has been cut to 33.79 lakh shares from 67.59 lakh the upper end of the price band, now the company's IPO size is estimated at Rs 583 crore, with a market valuation of about Rs 4,645 from the fresh issue to the tune of Rs 226 crore will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs 114 crore will be allocated for payment of loans, and the remaining funds will be utilised for general corporate Coworking Spaces Ltd is a leading platform for office experiences and managed specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern campuses include cafeterias, sports zones, gyms, medical centres, and more, offering a modern and attractive work environment. The company cater to businesses of all sizes, with a focus on mid-to-large companies that need over 300 company is concentrated in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and FY23 and FY25, Smartworks expanded its operations by adding 2.83 million sq ft of space under management, achieving a CAGR (compound annual growth rate) of 20.80 per strong pan-India presence, competitive pricing, and ability to lease entire or large properties make it a preferred partner for mid-to-large enterprises. This is reflected in the 20.80 per cent CAGR in space managed and a 38.98 per cent CAGR in revenue from operations during the same of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd and Kotak Mahindra Capital Company Ltd are responsible for managing the company's IPO process. The company shares are expected to be listed on July 17 on the BSE and NSE.
