Smartworks Coworking IPO open date is July 10, 2025 and the IPO will close on July 14, 2025.
The company reported revenue of ₹1,409.67 crores and loss of ₹63.18 crores in 2025.
Smartworks Coworking Spaces Ltd began in 2015 as a business centre in Kolkata. Rebranded in 2018 to reflect its co-working business, it became a public limited company in July 2024. Headquartered in Delhi and operating across India, it caters mainly to enterprise clients through its tech-enabled office campuses.
Smartworks Coworking IPO Details
| IPO Open Date: | July 10, 2025 |
| IPO Close Date: | July 14, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹387 to ₹407 Per Share |
| Issue Size: | Approx ₹582.56 Crores |
| Fresh Issue: | Approx ₹445 Crores |
| Offer for Sale: | Approx 3,379,740 Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 10% |
| QIB Quota: | Not more than 75% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
Smartworks Coworking IPO Market Lot
The Smartworks Coworking IPO minimum market lot is 36 shares with ₹14,652 application amount. The retail investors can apply up-to 13 lots with 468 shares of ₹1,90,476 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 36 | ₹14,652 |
| Retail Maximum | 13 | 468 | ₹1,90,476 |
| S-HNI Minimum | 14 | 504 | ₹2,05,128 |
| B-HNI Minimum | 69 | 2,484 | ₹10,10,988 |
Smartworks Coworking IPO Dates
The Smartworks Coworking IPO date is July 10 and the close date is July 14.
| IPO Open Date: | July 10, 2025 |
| IPO Close Date: | July 14, 2025 |
| Basis of Allotment: | July 15, 2025 |
| Refunds: | July 16, 2025 |
| Credit to Demat Account: | July 16, 2025 |
| IPO Listing Date: | July 17, 2025 |
Smartworks Coworking IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2023 | ₹744.07 | ₹880.30 | ₹101.05 | ₹4,473.50 |
| 2024 | ₹1,113.11 | ₹1180.73 | ₹49.96 | ₹4,147.08 |
| 2025 | ₹1,409.67 | ₹1489.13 | ₹63.18 | ₹4,650.85 |
Smartworks Coworking IPO Valuation – FY2025
Check Smartworks Coworking IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | -% |
| ROCE: | 42.30% |
| EBITDA Margin: | 62.39% |
| PAT Margin: | -% |
| Debt to equity ratio: | 2.90 |
| Earning Per Share (EPS): | ₹(6.18) (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | (58.76)% |
| Net Asset Value (NAV): | ₹10.55 |
Business Overview of Smartworks Coworking
The company leases bare-shell office spaces and transforms them into fully managed campuses offering high-end services and tech integrations. As of March 31, 2024, Smartworks operated 41 centres across India with 182,228 seats and clients ranging from startups to Fortune 500s.
- Core Offering: Fully serviced, flexible workspaces (co-working + managed campuses) for enterprises.
- Clientele: Over 600 clients including large enterprises; spaces catering from under 50 to over 4,800 seats.
- Product Features: Proprietary tech, design libraries, cafeterias, sport zones, smart stores, crèches.
- Scale: 41 centres, 182,228 capacity seats across Tier 1 cities as of March 31, 2024.
- Business Model: Leases large bare-shell properties and transforms into customized managed campuses.
Industry & Market Overview
India’s flexible workspace market was ~68 million sq. ft. in FY24, expected to grow rapidly due to hybrid work, cost efficiency, and corporate demand. Smartworks is the largest operator by managed campus stock. Key competitors include Awfis, WeWork India, Indiqube, and TableSpace.
- Industry Size: India’s commercial office stock at 841.2 million sq. ft. (Mar 2024); flexible workspace ~68 million sq. ft.
- CAGR: 21% growth in flexible workspace since 2020; forecasted to continue.
- Drivers: Hybrid work models, capital efficiency, wellness-focused workplaces.
- Market Position: Largest managed campus operator by stock as of Mar 2024 (CBRE Report).
- Competitors: Awfis, WeWork India, Indiqube, etc.
Promoters and Management
The promoters are Neetish Sarda and the Binani family. There are no legal issues reported against them. Ownership details will be updated post-IPO.
Peer Group Comparison
Smartworks is bigger than many peers like Awfis in office size. But valuation details like P/E or EV/EBITDA are not yet available because it’s still loss-making.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Awfis Space Solutions Limited | 9.75 | 63.18 | 14.78 | 65.97 | 1,207.54 Cr. |
Objects of the Issue
- Repayment/ prepayment/ redemption, in full or in part, of certain borrowings availed by the Company.
- Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres (“Capex”)
- General corporate purposes.
Smartworks Coworking IPO Registrar
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: smartwork.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- BOB Capital Markets Limited
- IIFL Securities Limited
- Kotak Mahindra Capital Company Limited
Company Address
Smartworks Coworking Spaces Limited
Unit No. 305-310,
Plot No 9, 10 and 11, Vardhman Trade Centre,
Nehru Place, South Delhi,
Delhi, New Delhi, 110019
Phone: +91 83840 62876
Email: companysecretary@sworks.co.in
Website: https://www.smartworksoffice.com/home/
Smartworks Coworking IPO FAQs
What is the business of Smartworks Coworking Spaces?
A managed workspace provider transforming bare-shell offices into tech-integrated campuses for enterprises.
When Smartworks Coworking IPO will open for subscription?
The IPO is to open on July 10, 2025 for QIB, NII, and Retail Investors. The IPO will close on July 14, 2025.
What is Smartworks Coworking IPO Investors Portion?
The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.
What is Smartworks Coworking IPO Issue Size?
Smartworks Coworking IPO issue size is ₹582.56 crores.
What is Smartworks Coworking IPO Price Band?
Smartworks Coworking IPO Price Band is ₹387 to ₹407.
What is Smartworks Coworking IPO Lot Size?
The minimum bid is 36 Shares with ₹14,652 amount.
What is the Smartworks Coworking IPO Allotment Date?
Smartworks Coworking IPO allotment date is July 15, 2025.
What is the Smartworks Coworking IPO Listing Date?
Smartworks Coworking IPO listing date is July 17, 2025. The IPO is to list on BSE & NSE.
Cash Flow Status of Smartworks Coworking?
Although sales have grown, cash reserves are falling. This means the company spends more than it earns in cash. It hasn’t turned profitable yet.