From Cubicles to Capital: Smartworks IPO Set to Spark Investor Buzz This July

Smartworks Coworking Spaces, India's pioneer in managed office space business, is all set to debut its much-awaited initial public offering (IPO) on July 10, 2025. The public issue will close on July 14, 2025, whereas anchor investor bidding will occur on July 9. The company has reduced the IPO size, reducing the fresh issue component to ₹445 crore from the initially proposed ₹550 crore, and reduced the offer-for-sale by promoters to 33.79 lakh shares from 67.59 lakh shares.

 

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Business Description: Smartworks is a firm that transforms large, hollow-shell buildings in Indian cities into full-fledged serviced, technology-enabled campuses with amenities like cafeterias, gyms, and recreation rooms. Smartworks deals with mid-to-large-sized corporations that need over 300 seats and operates centers in Bengaluru, Mumbai, Hyderabad, Gurugram, and Chennai.

 

Growth Metrics: Expanded 2.83 million sq. ft. of managed space from FY23 to FY25, driven by 20.8% CAGR in space managed and 38.98% CAGR in operating revenue.

 

JM Financial, BOB Capital Markets, IIFL Securities, and Kotak Mahindra Capital are the Lead Managers.

 

Smartworks' IPO is considered a milestone for India's thriving coworking industry, which reflects strong demand for flexible, modern office solutions by larger firms.

 

Source: The Economic Times, Business Standard, The Hindu BusinessLine, Rediff, IPO Watch, PTI News.