Smartworks Coworking Spaces Ltd.
Smartworks Coworking IPO will open for subscription on July 10. The company offers office experience and a managed campus platform. The public issue is a combination of fresh issue and offer-for-sa ...
Read moreIPO Timeline
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10 Jul 2025Bidding Starts
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14 Jul 2025Bidding Ends
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15 Jul 2025Allotment Finalization
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16 Jul 2025Refund Date
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16 Jul 2025Demat Date
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17 Jul 2025Listing Date
Smartworks Coworking Spaces Ltd. Financial Result in crore
| Year | Asset | Revenue | Profit |
|---|---|---|---|
| 31 Mar 2023 | 4,473.50 Cr | 744.07 Cr | -101.05 Cr |
| 31 Mar 2024 | 4,147.08 Cr | 1,113.11 Cr | -49.96 Cr |
| 31 Mar 2025 | 4,650.85 Cr | 1,409.67 Cr | -63.18 Cr |
About Smartworks Coworking Spaces Ltd.
Smartworks Coworking Spaces, which is engaged in the business of customised managed workspace solutions, offering fully serviced, tech-enabled office environments will launch its ₹582.5 crore ini ...
Incorporated in 2015, Smartworks Coworking Spaces is an office experience and managed campus platform operating in India, with a lease signed portfolio of 8.0 msf as of March 31, 2024.
Smartworks operates 46 operational centres with 183,613 capacity seats, serving 738 clients occupying 152,619 seats, as of March 31, 2025. With a committed occupancy rate of 89.03% as of June 30, 2025.
The company pursues multi-centre (same city) and also multi-city growth opportunities by investing in and nurturing longterm partnerships with its clients. Some of its key clients include Google IT Services India Private Limited, L&T Technology Services Limited, Bridgestone India Private Limited, Philips Global Business Services LLP and others.
Know before investing
Strengths
- Smartworks managed 8.99 million sq. ft. across 50 centres in India.
- Revenue grew at a CAGR of 38.98% between FY2023 and FY2025.
- The largest centre spans 0.7 million sq. ft. at Vaishnavi Tech Park.
- Committed occupancy rate reached 89.03% as of June 30, 2025.
- Serves large enterprise clients with deals up to 6,300 seats.
Risks
- 75.19% of rental revenue comes from just four key cities.
- Heavy dependence on large clients needing 300+ seats increases risk.
- Failure to find right properties may hurt growth and profits.
- Past losses and negative cash flows may continue in future.
- Lease renewals depend on Landlords, risking higher costs or exits.
Smartworks Coworking IPO objective
The money raised from the IPO will be used towards the following objectives:
- Capital expenditure (50.7%): The company will use ₹225.84 crore as security deposits and fit-outs for the new centres.
- Repayment of loans (25.6%): ₹114 crore from net IPO proceeds will be used to repay outstanding borrowings
- General corporate purposes (23.7%): Part of the IPO proceeds will be used for general corporate purposes.
Smartworks Coworking Spaces IPO Promoter Holding
Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP and Aryadeep Realstates Private Limited are the promoters of the company.
| Share Holding Pre Issue 65.19% Share Holding Post Issue 58.25% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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