Smartworks Coworking IPO: Key Dates, Financial Insights, and Allotment Details

In a significant development for the Indian financial market, Smartworks Coworking Spaces Limited is set to launch its Initial Public Offering (IPO) from July 10 to July 14, 2025. The company aims to raise approximately ₹[.] crores through this offering, which comprises a fresh issue of ₹445 crores and an offer for sale of up to 3,379,740 equity shares with a face value of ₹10 each. The IPO will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 17, 2025.

Smartworks Coworking, a major player in the Indian coworking space sector, has reported a revenue of ₹1,409.67 crores for the fiscal year 2025, an increase from ₹1,113.11 crores in 2024. However, the company also posted a net loss of ₹63.18 crores in 2025, compared to a loss of ₹49.96 crores in the previous fiscal year, highlighting the financial challenges faced by the organization as it seeks to expand its market presence.

**Context and Significance** The coworking industry in India has experienced rapid growth, driven by an increasing number of startups and the flexible work culture that emerged during the COVID-19 pandemic. According to a report by the International Workspace Association (IWA) published in 2023, the Indian coworking market is projected to grow at a compound annual growth rate (CAGR) of over 20% from 2023 to 2028. This IPO is expected to provide Smartworks with the necessary capital to expand its operations and capitalize on this growing market.

**IPO Details** - **IPO Open Date**: July 10, 2025 - **IPO Close Date**: July 14, 2025 - **Allotment Date**: July 15, 2025 - **Listing Date**: July 17, 2025 - **Price Band**: ₹[.] to ₹[.] per share - **Fresh Issue**: ₹445 crores - **Offer for Sale**: Up to 3,379,740 equity shares - **Retail Quota**: 10% - **Qualified Institutional Buyer (QIB) Quota**: 75% - **Non-Institutional Investor (NII) Quota**: 15%

The minimum market lot for the IPO is expected to be [.] shares, with the total application amount to be confirmed. Retail investors can bid for up to 13 lots, while higher net worth individuals (HNIs) and institutional investors have higher minimum lot requirements.

**Financial Performance** Smartworks' financial performance has shown a notable increase in revenue, yet it still struggles with profitability. The company's Revenue, Expenses, and Profit After Tax over the last three fiscal years are as follows: - **2023**: Revenue: ₹744.07 crores, Profit After Tax: ₹101.05 crores - **2024**: Revenue: ₹1,113.11 crores, Loss: ₹49.96 crores - **2025**: Revenue: ₹1,409.67 crores, Loss: ₹63.18 crores

As per the Draft Red Herring Prospectus (DRHP), the proceeds from the IPO will be utilized for repayment of certain borrowings, capital expenditures for new centers, and general corporate purposes.

**Expert Commentary** Dr. Ramesh Choudhury, a finance professor at the Indian Institute of Management, Bangalore, stated, "The coworking sector is poised for growth, especially as companies adopt hybrid work models. However, investors must consider Smartworks' financial health before investing."

In contrast, Ms. Anita Gupta, a market analyst at Edelweiss Securities, remarked, "Smartworks needs to demonstrate a clear path to profitability. The increasing revenue is promising, but losses may deter some investors."

**Conclusion and Future Outlook** The Smartworks Coworking IPO represents a pivotal opportunity for the company to secure funding for expansion and operational improvements. However, investors will closely scrutinize its ability to translate revenue growth into profitability in the coming years. As the coworking market continues to evolve, Smartworks' strategic decisions post-IPO will be crucial for its long-term success and investor confidence.

**References**: 1. Draft Red Herring Prospectus, Smartworks Coworking Spaces Limited, July 2025. 2. International Workspace Association Report, 2023. 3. Dr. Ramesh Choudhury, Professor of Finance, Indian Institute of Management, Bangalore. 4. Ms. Anita Gupta, Market Analyst, Edelweiss Securities.