Smartworks Coworking IPO Subscription Status Live 2025
Smartworks Coworking IPO Subscription Status Live 2025: The Smartworks Coworking IPO, a mainboard IPO raising ₹582.56 crores, has garnered significant attention due to its position as India’s leading managed workspace provider. The IPO, which opened on July 10, 2025, and closes on July 14, 2025, offers investors a chance to tap into the growing demand for flexible office spaces. This article provides live subscription status updates, grey market premium (GMP), key IPO details, and insights to help investors make informed decisions.
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Smartworks Coworking IPO Subscription Status
The Smartworks Coworking IPO subscription status is updated daily during the subscription period (July 10–14, 2025). As of July 14, 2025, at 10:40 AM, the IPO is subscribed 1.22 times, with bids for over 12,052,188 shares against the 10,056,237 shares offered. Below is the category-wise subscription data:
| Category | Subscription (Times) |
|---|---|
| QIB | 0.64x |
| NII (HNI) | 1.86x |
| Retail | 1.23x |
| Employee | Not Available |
| Total | 1.22x |
Note: Subscription data is sourced from NSE and BSE and will be updated hourly during the subscription period.
Smartworks Coworking IPO Details
The Smartworks Coworking IPO is a book-built issue comprising a fresh issue of 1.09 crore shares (₹445 crores) and an offer for sale (OFS) of 33.79 lakh shares (₹137.56 crores). Below are the key details:
| Particulars | Details |
|---|---|
| IPO Opening Date | July 10, 2025 |
| IPO Closing Date | July 14, 2025 |
| Allotment Date | July 15, 2025 |
| Listing Date | July 17, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹387 to ₹407 per share |
| Lot Size | 36 shares |
| Issue Size | ₹582.56 crores (1.43 crore shares) |
| Fresh Issue | ₹445 crores (1.09 crore shares) |
| Offer for Sale | ₹137.56 crores (33.79 lakh shares) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Book Running Lead Managers | JM Financial, BoB Capital Markets, IIFL Capital Services, Kotak Mahindra Capital |
| Registrar | MUFG Intime India Private Limited |
The IPO allocates 50% to Qualified Institutional Buyers (QIBs), 15% to High Net-Worth Individuals (HNIs), 35% to retail investors, and a reserved portion for eligible employees with a ₹37 per share discount. The minimum investment for retail investors is ₹14,652 (36 shares).
Smartworks Coworking IPO Grey Market Premium (GMP) Today
The Grey Market Premium (GMP) reflects the premium at which IPO shares trade in the unofficial market before listing. As of July 14, 2025, the Smartworks Coworking IPO GMP is ₹22, indicating an estimated listing price of ₹429 (5.41% above the upper price band of ₹407). The GMP has fluctuated, reaching a high of ₹34 on July 11 and a low of ₹19 on July 12.
| Date | GMP (₹) | Estimated Listing Price (₹) |
|---|---|---|
| July 14, 2025 | ₹22 | ₹429 (5.41% above ₹407) |
| July 13, 2025 | ₹21 | ₹428 (5.16% above ₹407) |
| July 12, 2025 | ₹19 | ₹426 (4.67% above ₹407) |
| July 11, 2025 | ₹34 | ₹441 (8.35% above ₹407) |
Disclaimer: GMP is unofficial and volatile. Investors should not rely solely on GMP but evaluate the company’s fundamentals.
Smartworks Coworking IPO Kostak Rates Today
The Kostak rate is the premium an investor earns by selling their IPO application in the grey market before allotment. As of July 14, 2025, the Kostak rate for the Smartworks Coworking IPO is not available. Investors should check with grey market dealers for updates.
| Date | Kostak Rate (₹) |
|---|---|
| July 14, 2025 | Not Available |
Smartworks Coworking IPO Subject to Sauda Rates
The Subject to Sauda rate is the amount agreed for an IPO application, payable only if allotted. As of July 14, 2025, the Subject to Sauda rate for the Smartworks Coworking IPO is ₹600 per application.
| Date | Subject to Sauda (₹) |
|---|---|
| July 14, 2025 | ₹600 |
Note: Kostak and Subject to Sauda rates are unofficial and may fluctuate.
About Smartworks Coworking Spaces Limited
Founded in 2015, Smartworks Coworking Spaces Limited is India’s largest managed workspace provider, operating 8.99 million square feet across 50 centers in 15 cities, including Bengaluru, Pune, Hyderabad, Gurugram, Mumbai, Noida, and Chennai, as of March 31, 2025. The company focuses on mid-to-large enterprises, serving 738 clients with a seating capacity of 203,118 and an 83.12% occupancy rate. Smartworks leases large properties, transforming them into tech-enabled, fully serviced office campuses with amenities like cafeterias, gyms, crèches, and medical centers. Its proprietary technologies, such as BuildX, enhance operational efficiency. Revenue comes primarily from long-term lease rentals (94%), with additional income from value-added services (3.6%) and design/fit-out services (2.5%).
Smartworks Coworking IPO Objectives
The net proceeds from the fresh issue will be used for:
- Repayment or prepayment of certain borrowings.
- Capital expenditure for fit-outs and security deposits for new centers.
- General corporate purposes and unidentified inorganic acquisitions.
Smartworks Coworking Financials
Smartworks has shown strong revenue growth but remains loss-making at the PAT level due to high depreciation and non-cash expenses. Below is a summary of its financial performance:
| Particulars | FY25 (₹ Crores) | FY24 (₹ Crores) | Growth (%) |
|---|---|---|---|
| Revenue | 1,374.05 | 1,039.36 | 32.20% |
| EBITDA | 857.26 | 424.00 | 102.23% |
| PAT | (63.18) | (49.96) | -26.46% |
The company’s market capitalization is ₹4,644.82 crores, with a price-to-sales ratio of 3.3x and an EV/EBITDA multiple of 9.7x at the upper price band.
Smartworks Coworking IPO Strengths
- Market Leadership: Largest managed workspace provider in India with 8.99 million sq. ft. across 50 centers.
- Enterprise Focus: Caters to mid-to-large enterprises, with clients like MNCs and startups, ensuring stable demand.
- Tech-Driven: Proprietary platforms like BuildX enhance operational efficiency and tenant experience.
- Revenue Growth: 38.9% CAGR in revenue from FY23 to FY25, driven by expansion and demand.
- Capital Efficiency: Average payback period of 30–32 months for mature centers, below industry benchmarks.
Smartworks Coworking IPO Risks
- Loss-Making: Negative PAT (₹63.18 crores in FY25) due to high depreciation and debt.
- High Debt: Significant borrowings, though IPO proceeds will aid repayment.
- Market Sensitivity: Exposure to real estate and economic fluctuations.
- Competitive Landscape: Faces competition from players like Awfis Space Solutions, which is profitable.
- Legal Concerns: Allegations against the company and promoters may impact investor confidence.
Smartworks Coworking IPO Review
The Smartworks Coworking IPO offers exposure to India’s growing managed workspace sector, driven by demand for flexible office solutions. The company’s scale, enterprise focus, and tech-driven operations are strong positives, with revenue growing at a 38.9% CAGR from FY23 to FY25. However, its loss-making status, high debt, and competitive pressures from profitable peers like Awfis Space Solutions pose risks. The GMP of ₹22 suggests modest listing gains of 5.41%, but concerns about negative cash flows and legal allegations warrant caution. Brokerages like Anand Rathi and Geojit recommend subscribing for long-term prospects, while SBI Securities and others suggest avoiding due to profitability concerns.
Recommendation: Long-term investors with high risk tolerance may consider applying, but short-term investors should proceed cautiously. Consult a financial advisor.
How to Apply for Smartworks Coworking IPO
Investors can apply through ASBA (Applications Supported by Blocked Amount) or UPI via their bank or brokers like Zerodha, Upstox, or Angel One.
Steps to Apply:
- Log in to your demat account or broker’s platform.
- Navigate to the IPO section and select “Smartworks Coworking IPO.”
- Enter the number of lots (minimum 36 shares).
- Provide your UPI ID or bank details for payment.
- Submit the application and approve the UPI mandate.
Check your broker’s IPO application process for detailed instructions.
Smartworks Coworking IPO FAQs
When does the Smartworks Coworking IPO open and close?
The IPO opens on July 10, 2025, and closes on July 14, 2025.
What is the subscription status of the Smartworks Coworking IPO?
As of July 14, 2025, at 10:40 AM, the IPO is subscribed 1.22 times, with QIB at 0.64x, NII at 1.86x, and Retail at 1.23x.
What is the price band of the Smartworks Coworking IPO?
The price band is ₹387 to ₹407 per share.
What is the minimum investment for retail investors?
The minimum investment is ₹14,652 for 36 shares (1 lot).
What is the GMP of the Smartworks Coworking IPO today?
As of July 14, 2025, the GMP is ₹22, indicating an estimated listing price of ₹429 (5.41% premium).
How to check the Smartworks Coworking IPO allotment status?
Visit the MUFG Intime India website (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), select “Smartworks Coworking IPO,” and enter your application details.
Where will the Smartworks Coworking IPO be listed?
The IPO will be listed on the BSE and NSE, tentatively on July 17, 2025.
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