[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

1. Neetish Sarda,
2. Harsh Binani,
3. Saumya Binani,
4. NS Niketan Llp,
5. SNS Infrarealty LLP, and
6. 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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