365Telugu.com online news,National, July 7, 2025: Smartworks Coworking Spaces Limited (“Smartworks” or “the Company”) has announced the opening of its initial public offering (IPO) of equity shares on Thursday, July 10, 2025, closing on Monday, July 14, 2025. The Anchor Investor bidding will take place on Wednesday, July 9, 2025.
The price band for the offer is set at ₹387 to ₹407 per equity share of face value ₹10 each, with a discount of ₹37 per share available for eligible employees applying under the Employee Reservation Portion. Investors can bid for a minimum of 36 equity shares and in multiples of 36 thereafter.
The IPO consists of a fresh issue aggregating up to ₹4,450 million, and an offer for sale of up to 3,379,740 equity shares by existing shareholders. Specifically, the Offer for Sale includes up to 490,000 equity shares by NS Niketan LLP, up to 310,000 shares by SNS Infrarealty LLP (promoter selling shareholders), and up to 2,579,740 shares by Space Solutions India Pte. Ltd. (investor selling shareholder).
Proceeds from the fresh issue will be used towards repayment or prepayment of certain borrowings (₹1,140 million), capital expenditure for fit-outs and security deposits at new centres (₹2,258.40 million), and the remainder for general corporate purposes.
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The company’s shares are proposed to be listed on both the BSE and NSE, with the NSE acting as the designated stock exchange. The IPO will be conducted through the book-building process in compliance with SEBI ICDR Regulations, with 50% of the net offer reserved for Qualified Institutional Buyers (QIBs), up to 60% of which may be allocated to Anchor Investors. One-third of the Anchor Investor allocation is reserved for domestic mutual funds.
Additionally, 15% of the net offer will be allocated to Non-Institutional Bidders, with specific reservations for different investment brackets, and 35% will be allocated to Retail Individual Bidders. All bidders, except Anchor Investors, must use the Application Supported by Blocked Amount (ASBA) process to participate.
JM Financial Limited, BOB Capital Markets Limited, IIFL Capital Services Limited, and Kotak Mahindra Capital Company Limited are the book-running lead managers for the issue.
For full details, interested investors are advised to refer to the Red Herring Prospectus dated July 4, 2025, filed with the Registrar of Companies, Delhi and Haryana. The prospectus can be accessed here.