BSE SME Workmates Core2Cloud Solution blasts off with a cloud-high debut

Workmates Core2Cloud Solution traded at Rs 368.25 on the BSE, a premium of 80.51% compared with the issue price of Rs 204.

The scrip was listed at Rs 387.60, a premium of 90% over the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 405 and a low of Rs 368.25. About 13.88 lakh shares of the company changed hands at the counter.

Workmates Core2cloud Solution's IPO was subscribed 131.60 times. The issue opened for bidding on 11 November 2025 and it closed on 13 November 2025. The price of the IPO was fixed between Rs 200 to Rs 204 per share.

The IPO comprised 34,32,600 equity shares, including a fresh issue of 29,08,800 equity shares and offer for sale (OFS) of 5,14,800 equity shares.

The company intends to utilize the net proceeds for prepayment or repayment of secured loan availed by company from banks, funding of working capital requirements of company and for general corporate purposes.

Ahead of the IPO, Workmates Core2cloud Solution on 10 November 2025, raised Rs 19.58 crore from anchor investors. The board allotted 9.60 lakh shares at Rs 204 each to 5 anchor investors.

Kolkata-based Workmates Core2Cloud Solution is an AWS Premier Consulting Partner specializing in scalable and innovative cloud solutions across India. The company has completed over 350 projects for 200+ clients spanning finance, healthcare, retail, e-commerce, and media sectors. Its core services include cloud migration and managed services, DevOps and automation, cybersecurity and analytics, custom application development, and SAP infrastructure support. Additionally, Workmates Core2Cloud leverages emerging technologies such as IoT, Blockchain, AI/ML, VR, and AR to drive digital transformation. Known for its AWS expertise and customer-focused approach, the company helps organizations enhance efficiency, security, and innovation through the cloud. As of 31 August 2025, the company had 168 employees on its payroll.

The company recorded revenue from operations of Rs 59.38 crore and net profit of Rs 7.22 crore for the period ended 31 August 2025.

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