Smartworks Coworking Spaces IPO day 2 update: 72% subscription, GMP at 7%

Smartworks Coworking Spaces IPO: Check latest subscription status, grey market premium (GMP), review, allotment date, listing date, and other key details here

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Smartworks Coworking Spaces IPO subscription status: The initial public offering (IPO) of customised managed workspace solutions provider Smartworks Coworking Spaces entered its second day, with half of the issue size booked by investo₹on the first day of bidding. The public issue, which opened on July 10, received bids for 75,36,960 equity shares against 1,04,01,828 shares on offer, resulting in a subscription of 72 per cent till 12:01 PM on Friday, according to NSE data.

 

Among the investor categories, non-institutional investors (NIIs) have fully booked their reserved quota. Retail investors have subscribed to 86 per cent of their allocated shares, while qualified institutional buyers (QIBs) have bid for only 5,724 shares against 29,03,910 shares reserved for them. 

Smartworks Coworking Spaces IPO grey market premium (GMP) today

In the grey market, a similar sentiment was observed. Sources tracking unofficial market activity reported that the unlisted shares of Smartworks Coworking Spaces were trading at around ₹437 apiece, indicating a grey market premium (GMP) of ₹30 or 7.37 per cent over the upper end of the issue price of ₹407.

Smartworks Coworking Spaces IPO details

The Smartworks Coworking Spaces IPO consists of a fresh issue of 10.9 million equity shares worth ₹445 crore, and an offer for sale (OFS) through which promoters and investors are selling up to 3.4 million shares worth approximately ₹137.56 crore. The price band for the public issue is ₹387 to ₹407 per share, and the minimum bid is for one lot, or 36 shares, which translates to an investment of ₹14,652.

 

Smartworks plans to use the IPO proceeds for the repayment, prepayment, or redemption (in full or part) of certain borrowings, to meet capital expenditure for fit-outs in new centres, and for placing security deposits at new centres. A portion of the funds will also be used for general corporate purposes.

 

For the IPO, MUFG Intime India (formerly Link Intime) has been appointed as the registrar, while JM Financial is serving as the book-running lead manager. 

Smartworks Coworking Spaces IPO review

The IPO has received mildly favourable reviews from brokerages. Market analysts remain optimistic about the company’s long-term prospects. Analysts at Anand Rathi Research and Geojit Financial Services have both recommended investors to subscribe to the Smartworks Coworking Spaces IPO for long-term prospects. READ MORE

Smartworks Coworking Spaces IPO allotment date, listing date

The public offering will close for subscription on July 14. Following that, the basis of allotment of Smartworks Coworking Spaces IPO shares is expected to be finalised on July 15. The company’s shares will be credited into demat accounts tentatively on July 16.

 

Shares of Smartworks Coworking Spaces are slated to list on the BSE SME platform tentatively on July 17.

About Smartworks Coworking Spaces

Smartworks Coworking Spaces is an office experience and managed campus platform. As of March 31, 2024, it was the largest managed campus operator among the benchmarked operators in terms of total stock, with a lease-signed portfolio of 8.0 million square feet. (Source: CBRE Report). The company focuses on mid-to-large enterprises and has built a growing client base, which includes Indian corporates, multinational companies (MNCs) operating in India, and startups. As of March 31, 2025, Smartworks has leased and manages a total super built-up area (SBA) of 8.99 million square feet.