Smartworks

Smartworks Coworking IPO subscribed 13.45 times on final bidding day

The Rs 583-crore initial public offer of Smartworks Coworking Spaces Ltd garnered 13.45 times subscription on the closing day of bidding on Monday. The three-day IPO received bids for 13,99,08,852 shares against 1,04,01,828 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) attracted 24.41 times subscription. Non-Institutional Investors part got subscribed 22.78 times and Retail Individual Investors (RIIs) part received 3.53 times subscription. Smartworks Coworking Spaces has raised Rs 173.64 crore from anchor investors. The IPO of Smartworks Coworking Spaces hit the capital market on Thursday last week to raise nearly Rs 600 crore as the company intends to expand its business and reduce debt. The company has fixed a price band of Rs 387-407 per share for its IPO. The size of the fresh issue has been reduced to Rs 445 crore from the earlier planned Rs 550 crore, while the offer for sale (OFS) by promoters has been cut to 33.79 lakh shares from

Smartworks Coworking ₹582-cr IPO kicks off today; should you apply or not?

Smartworks Coworking IPO opens today: Analysts believe that the IPO is fully priced and recommend a "Subscribe- Long term" rating

Smartworks Coworking IPO opens tomorrow; key risks, strengths you must know

Smartworks Coworking was the largest managed campus operator among the benchmarked operators in terms of total stock as of March 31, 2024

Ahead of July 10 listing, Smartworks reports ₹382 cr debt as of Apr-end

Smartworks Coworking Spaces, which plans to launch IPO on July 10, has said that the company's total debt stood at Rs 382 crore at the end of April. Gurugram-based Smartworks currently has 48 operational centres with over 1.9 lakh seating capacities. "Our total outstanding borrowings as on April 30, 2025, were Rs 3,819.67 million, on a consolidated basis," the company said in a Red Herring Prospectus (RHP) filed with SEBI. Smartworks will hit the capital market on July 10 to launch its Initial Public Offering (IPO). The issue will close on July 14. The company has revised its IPO size downward. The size of the fresh issue has been reduced to Rs 445 crore from the earlier planned Rs 550 crore, while the Offer For Sale (OFS) by promoters has been cut to 33.79 lakh shares from 67.59 lakh shares. Out of the total proceeds from the fresh issue of shares, the company will use Rs 226 crore for capital expenditure related to the fit-outs in new centres and security deposits for these ne

Smartworks Coworking IPO to open on July 10; issue size cut to ₹445 crore

About Rs 226 crore from the total proceeds will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres

Stock of operational flex space in India to double in next five years

A flex property, short for flexible property, is a hybrid of office and industrial space. It can be used as an office, retail space or warehouse

The non-IT and IT services account for 54% of Smartworks' business

For Smartworks, the non-IT and IT services already account for 54% of their business. This is far higher than the broader real estate market, where they account for 40% of the inventor

Coworking firm Smartworks forays into Ahmedabad with 56k sq ft office space

Smartworks, which provides flexible office space, has taken on lease 56,000 square feet area in Ahmedabad to open its new centre as demand for flexible workspace from corporates rises in tier II cities. The company in a statement said it has forayed into Ahemdabad market and has taken over 56,000 square feet of office space on lease at Nehru Nagar in Ahmedabad. The new centre will open in March. Smartworks is one of the leading players in the managed office space market with a portfolio of over 7 million square feet. With expansion in Ahmedabad, the company now has presence in 12 cities. Neetish Sarda, Founder of Smartworks, said, "We are witnessing huge demand from MNCs across sectors for office spaces in these high-growth markets owing to employee flexibility and value-priced spaces with a plethora of services and amenities." After Jaipur and Indore, this is the company's third tier-II city addition to its portfolio this fiscal. "Our expansion to Ahmedabad is in line with offe

Smartworks leases tech park in Bengaluru; aims Rs 1,000 revenue in 2022

Smartworks' revenues have increased three-fold, and it aims to reach the Rs 1,000 crore revenue milestone in 2022

Covid crisis: Flexible workspace options to soar as firms expand capacity

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Co-working player Smartworks to add 3 million sq ft office space in FY22

Several projects already under discussion, firm is also offering clients option to downsize or upsize across the geographies they operate in

As work from home takes precedence, shared workspaces get in battle mode

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

Coworking centre operators likely to double or treble in 2 years: Anarock

In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces - have more than 350 centres across cities in the country

Smartworks Coworking raises $25 mn from Singapore realty firm Keppel Land

Smartworks, which has 23 operational centres in 9 cities and offers 43,000 workstations over 2.3 mn sq ft, plans to grow to 20 mn sq ft and seat 200,000 professionals over the next five years

Smartworks consolidates Market Leadership position in Chennai and Pune

Pan India footprint reaches 2.8 million sq.ft

Robot unveils Smartworks' new co-work centre in Bengaluru, talks to guests

Smartworks, launched is 2016, creates shared office spaces solely focused on enterprise clients