Smartworks Coworking Spaces Ltd is all set to launch its initial public offering (IPO) on July 10, 2025, allowing public investors to buy shares in the company. The IPO will close on July 14, and bidding for anchor investors is scheduled to take place a day earlier on July 9, as per the red herring prospectus.
This IPO marks a significant milestone for Smartworks, one of India’s top managed workspace providers. However, the company has revised its IPO size downward to make the offering more efficient.
Smartworks IPO: Offer Size Cut
Smartworks has reduced the size of its fresh issue to Rs 445 crore, down from the originally planned Rs 550 crore. The Offer for Sale (OFS) component has also been trimmed, with the number of shares cut to 33.79 lakh, nearly half of the previously proposed 67.59 lakh shares.
According to the company, approximately Rs 226 crore of the funds raised will be used for capital expenditure to set up interiors at new coworking centres and pay security deposits. Another Rs 114 crore will go towards repaying loans, while the rest will support general business needs.
What is Smartworks
Founded as a next-gen coworking provider, Smartworks focuses on transforming large, empty office spaces into tech-enabled campuses equipped with modern amenities. These facilities include cafeterias, gyms, health centres, and recreation zones, appealing especially to mid-to-large businesses looking for over 300 workstations.
The company serves clients across India in major cities such as Bengaluru, Gurugram, Mumbai Metropolitan Region, Hyderabad, and Chennai, offering flexibility and premium infrastructure under a managed campus model.
Steady Expansion Numbers
Between FY23 and FY25, Smartworks added 2.83 million square feet of office space under management. This expansion represents a compound annual growth rate (CAGR) of 20.80% in its managed area.
At the same time, the company achieved a robust 38.98% CAGR in revenue from operations, reflecting rising demand and strategic focus on large enterprises. Its ability to lease entire buildings or large properties has made Smartworks a preferred choice for companies seeking reliable office solutions.
Key Advisors for IPO
To manage the IPO process, Smartworks has onboarded JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd, and Kotak Mahindra Capital Company Ltd. These firms are among India’s leading investment banks and will guide the company through this key public listing process.
As the IPO date approaches, investors are watching closely, with strong interest expected from both institutional and retail buyers eager to enter India’s evolving coworking and office space market through Smartworks.
