Smartworks Secures Rs 1.74 Billion from Anchor Investors Ahead of IPO Debut

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Smartworks Coworking Spaces Ltd received Rs 1.74 billion in anchor book allotment, preparing its Rs 582.56 crore IPO listing for 10th July 2025. The shares were allotted at the top of the price band, Rs 407 per equity share, reflecting high institutional demand for the flexible workspace provider.

Key Highlights:

Anchor Investor Participation:

Tata Mutual Fund and Aditya Birla Sun Life were among the marquee investors who got allotment in the anchor round.

The anchor book was closed on July 9, a day before the IPO subscription opened.

IPO Structure and Objectives:

The IPO comprises a fresh issue of Rs 445 crore and offer for sale of Rs 137.56 crore.

Proceeds will be used to fund fit-outs in new centres, repayment of borrowings, and other general corporate needs.

Business Snapshot:

Smartworks has 50 locations in 15 cities and manages 8.99 million sq ft of office space.

The company specializes in technology-enabled campuses for mid-to-large-sized companies.

Financial Controls

Revenue in FY25 was Rs 1,374 crore with an EBITDA margin of 62.39 percent.

Although it incurred a net loss of Rs 63.18 crore, the company's ROCE was high at 42.30 percent.

Market Sentiment:

The stock is quoted at a Rs 29 premium in the grey market, reflecting a positive mood among investors.

Listing is scheduled on July 17 on NSE and BSE.

Sources: Economic Times, Moneycontrol, Chittorgarh, Livemint, Trade Brains.