Smartworks Launches ₹445 Cr IPO; Leadership Outlines Growth and Vision

Smartworks is the leading managed office space platform in India, known for its tech-enabled, tastefully designed, fully serviced, and flexible workspaces. With over 8 million sq. ft.

BILKULONLINE

Ahmedabad, July 09:  Smartworks Coworking Spaces Limited is set to open its Initial Public Offering (IPO) on Thursday, July 10, with the price band fixed at ₹387 to ₹407 per equity share of face value ₹10 each. Ahead of the launch, senior leadership from Smartworks addressed the media in Ahmedabad on Tuesday, highlighting the company’s growth trajectory, expansion plans, and investor strategy.

Present at the interaction were Chairman & Non-Executive Director Atul Gautam, Managing Director Neetish Sarda, Executive Director Harsh Binani, Chief Business Officer Pratik Agarwal, Chief Financial Officer Sahil Jain, Chief of Strategy & Investor Relations Anirudh Tapuriah, and Prachi Malkan from the Equity Capital Markets team.

IPO Details and Utilization of Funds

• The IPO comprises a fresh issue of equity shares aggregating up to ₹445 crore and an offer for sale (OFS) of up to 33.79 lakh shares by existing investors.
• The company plans to utilise the net proceeds for:
• Repayment/prepayment/redemption of certain borrowings (₹114 crore)
• Capital expenditure and security deposits for new coworking centres (₹225.84 crore)

General corporate purposes

Neetish Sarda, Managing Director, said, “Smartworks is redefining workspaces for India Inc. We are the largest managed workspace platform and this IPO is a significant step towards further deepening our footprint and technology-led offerings.”

Anchor Investor and Offer Schedule

• Anchor Investor bidding opens and closes on Wednesday, July 9, 2025
• IPO opens for subscription on Thursday, July 10, and closes on Monday, July 14
• A discount of ₹37 per equity share is being offered to eligible employees under the reservation portion
• Minimum bid lot: 36 equity shares and in multiples thereafter

Leadership Speaks on Growth & Vision

Executive Director Harsh Binani emphasized the evolving demand for flexible office solutions, noting, “Enterprises are increasingly prioritizing agility, collaboration, and employee wellness. Smartworks is well-positioned to cater to this shift through integrated workspace solutions.”

Chief of Strategy & Investor Relations Anirudh Tapuriah added, “We have built a resilient business model with predictable cash flows and long-term enterprise client contracts. This offering will help strengthen our balance sheet and fuel the next leg of expansion.”

Chairman Atul Gautam remarked, “Our consistent focus has been on innovation, customer-centricity, and scale. With this IPO, we aim to deliver greater value to all stakeholders.”

Offer Structure and Listing

• The offer includes shares from NS Niketan LLP, SNS Infrarealty LLP, and Space Solutions India Pte. Ltd.
• The equity shares will be listed on BSE and NSE, with NSE as the designated stock exchange
• Lead managers to the issue are JM Financial, BOB Capital Markets, IIFL Capital Services, and Kotak Mahindra Capital

RHP Link: Red Herring Prospectus

For investors, Smartworks offers a unique opportunity to invest in a sector witnessing robust demand from India’s growing startup and enterprise ecosystem. With a strong leadership team and ambitious vision, the company is poised for its next phase of growth.

Disclaimer: Investors looking to participate in this IPO should carefully review the company’s financials, market position, and growth strategies before making investment decisions.

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