Smartworks IPO – Smartworks, India’s largest managed office space provider, is all set to launch its much-anticipated Initial Public Offering (IPO) on July 10. The company has fixed its price band at ₹387 to ₹407 per share, with a lot size of 36 shares. With a current Grey Market Premium (GMP) of ₹25–₹27, investors are eyeing an estimated 6% listing gain. Backed by rapid expansion and a strong clientele, Smartworks is positioning itself as a key player in the flexible workspace sector.
About Smartworks: India’s Largest Managed Office Space Provider
Founded in 2016, Smartworks has rapidly grown to become a dominant force in the co-working and managed office space sector. With a presence across major metro cities and a growing footprint in Tier-II locations, the company offers fully serviced office spaces for large enterprises, SMEs, and startups.
- Operates over 8 million sq. ft. of workspace
- Serves 500+ clients, including Fortune 500 companies
- Focus on technology-enabled workspace solutions
- Asset-light, long-term lease business model
- Recently received fresh capital infusion from Keppel Land and other investors
Smartworks’ IPO aims to fuel its next phase of expansion, especially in emerging business districts and tech hubs.
Smartworks IPO Details: Price Band, Dates, Lot Size
Here’s a detailed table summarizing the key details of the Smartworks IPO:
| Particulars | Details |
|---|---|
| IPO Opening Date | July 10, 2025 |
| IPO Closing Date | July 12, 2025 |
| Price Band | ₹387 – ₹407 per share |
| Lot Size | 36 shares |
| Minimum Investment | ₹14,652 (for 1 lot) |
| Issue Size | ₹650 crore (approx) |
| Face Value | ₹10 per share |
| Listing on | NSE and BSE |
| Listing Date (Tentative) | July 18, 2025 |
This IPO is a book-built issue and consists entirely of fresh issue – which means the company plans to use the proceeds for business expansion and not for selling shareholder stake.
Grey Market Premium (GMP) Signals Optimism
The Grey Market Premium (GMP) for Smartworks has been trading between ₹25 and ₹27, hinting at a likely 6% upside from the upper price band of ₹407. While GMP is unofficial and speculative, it reflects strong retail and institutional interest in the stock.
Key Insights from GMP Trends:
- ₹25–27 GMP suggests a listing price of around ₹432–₹435
- Indicates investor confidence in Smartworks’ growth story
- Supported by improving financials and rising office space demand
However, GMP should not be the only basis for investment – always consider company fundamentals and long-term potential.
Smartworks Financial Performance Overview
Smartworks has shown significant improvement in its revenue and profitability over recent years. Here’s a look at their financial snapshot:
| Financial Year | Revenue (₹ Cr) | EBITDA (₹ Cr) | Net Profit (₹ Cr) | EBITDA Margin |
|---|---|---|---|---|
| FY21 | 153 | -35 | -68 | Negative |
| FY22 | 266 | 12 | -9 | 4.5% |
| FY23 | 397 | 65 | 22 | 16.3% |
| FY24 (Est.) | 545 | 102 | 44 | 18.7% |
Key Trends:
- Strong revenue growth (CAGR over 50%)
- Turned profitable in FY23
- Improving EBITDA margins
- Cost efficiency through tech-driven operations
Objectives of the IPO
Smartworks aims to utilize the IPO proceeds primarily for growth and expansion. Here’s how the funds will be allocated:
- Expansion into Tier-II cities like Chandigarh, Indore, and Kochi
- Strengthening presence in Bengaluru, Hyderabad, Pune, and NCR
- Investment in AI-driven workspace technologies
- Repayment of certain debts
- General corporate purposes
The company plans to double its portfolio size by 2027 and enter new sectors like warehousing, data centers, and campus-based workspace solutions.
Industry Overview: Co-Working & Managed Office Boom
The Indian flexible office space market is booming due to rising demand from IT/ITES, startups, and hybrid workforces. According to JLL India:
- The co-working market is expected to grow at 25% CAGR till 2027
- Over 75 million sq. ft. of demand projected by 2026
- Managed offices are preferred by over 65% of large corporations post-COVID
Smartworks’ early mover advantage and scalable business model make it well-positioned in this evolving sector.
Should You Invest in Smartworks IPO?
Smartworks offers a mix of growth potential and strong fundamentals. Here are some pros and cons for investors to consider:
Pros:
- Rapid growth and profitability turnaround
- Strong client base with long-term contracts
- High asset utilization and retention
- Tech-enabled, scalable business model
- Exposure to booming co-working market
Cons:
- Still in early profitability phase
- High competition from WeWork, Awfis, and smaller players
- Dependent on continued corporate leasing demand
Expert Recommendations
Market analysts suggest applying for listing gains and holding for long-term if you’re bullish on the co-working sector. The 6% GMP listing premium offers a good entry point, and institutional backing adds to credibility.
Important Dates to Remember
| Event | Date |
|---|---|
| IPO Opens | July 10, 2025 |
| IPO Closes | July 12, 2025 |
| Allotment Finalization | July 15, 2025 |
| Refunds Initiated | July 16, 2025 |
| Shares Credited to Demat | July 17, 2025 |
| Listing Date | July 18, 2025 |
Smartworks IPO comes at a time when demand for flexible workspaces is surging across India. The company’s strong growth trajectory, improved financials, and strategic expansion plans make it a compelling investment option. While short-term listing gains look promising due to GMP and sector buzz, long-term investors should analyze business sustainability and sector dynamics before deciding. As always, invest only after thorough research and based on your risk profile.
FAQs on Smartworks IPO
Q1. What is the price band of the Smartworks IPO?
The price band is fixed at ₹387–₹407 per share.
Q2. What is the GMP (Grey Market Premium) for Smartworks IPO?
The current GMP ranges between ₹25 and ₹27, indicating a possible 6% listing gain.
Q3. When will Smartworks IPO open and close?
The IPO opens on July 10, 2025, and closes on July 12, 2025.
Q4. What is the lot size and minimum investment?
The lot size is 36 shares, and the minimum investment is ₹14,652.
Q5. On which exchanges will Smartworks IPO be listed?
The shares will be listed on both NSE and BSE.
