Smartworks Coworking Spaces Limited, an office experience and managed Campus platform in India is planning to raise 583 Crore via IPO.
[Fresh Issue 445 crore + OFS 138 crore]
Smartworks coworking spaces ipo price INR 387 – 407 per share
Smartworks Coworking Spaces: History
The Company was originally incorporated as Smart Work Business Centre Private Limited in Kolkata as a private limited company under the Companies Act, 2013.
The Company was converted into a public limited company under a special resolution passed by the shareholders on June 28, 2024, and its name was changed to Smartworks Coworking Spaces Ltd under a fresh certificate of incorporation issued by the RoC on July 25, 2024.
Smartworks Coworking Spaces: Business
Smartworks delivers ‘Customised Managed Workspace Solutions’ designed to meet the specific needs of Enterprises seeking fully serviced, aesthetically pleasing, and tech-enabled office environments along with daily life and aspirational amenities for their employees.
The Company focuses on mid-to-large Enterprises and has built a growing client base, which includes –
- Indian corporates,
- MNCs operating in India, and
- Startups
The Company equips its campuses with modern and aesthetically pleasing designs using an extensive design library, integrated proprietary technology solutions & amenities such as –
- Cafeterias,
- Gymnasiums,
- Sport Zones,
- Smart Convenience Stores,
- Crèches, and
- Medical Centers
Managed Campus
Smartworks has managed a Campus platform consisting of a total SBA of 8.00 million square feet across 41 Centres in 13 cities including Bengaluru, Chennai, Gurugram, Hyderabad, Mumbai, Noida, and Pune with 182,228 Seats, as of March 31, 2024.
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Client List
Bridgestone India Private Limited, Google IT Services India Private Limited, L&T Technology Services Limited, Persistent Systems Limited, Philips Global Business Services LLP, and Make My Trip (India) Private Limited.
Strategies Ahead
- Capitalize market leadership and expertise to scale core business further
- Enhance capital efficiency through rental business model & managed contracts
- Scale up new revenue streams (which are margin-accretive)
- Continue to build proprietary technology to improve operational efficiency and create opportunities for monetization
- Become a sustainable company
Company Promoters
- Neetish Sarda,
- Harsh Binani,
- Saumya Binani,
- NS Niketan Llp,
- SNS Infrarealty LLP, and
- Aryadeep Realestates Private Limited
IPO Details
Smartworks coworking spaces ipo date = 10 July to 14 July 2025
Minimum Amount = INR 14,652
Minimum Bid = 36 Shares
Face Value (FV) = INR 10
Listing On = NSE, BSE
Book Running Lead Manager
JM Financial Limited
Financials
CONCLUSION
FinBlab recommends ‘AVOID‘ ratings (for the time being) on Smartworks coworking space IPO
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