The clock is ticking for the Smartworks Coworking IPO. A mainboard issue, the bidding window of this IPO closes today, July 14. It is Rs 582.56 crore issue and now all eyes are on the final subscription numbers, grey market premium, and what lies ahead in terms of allotment and listing.
If you are still considering a bid, let’s take a rundown of everything you should know before the deadline ends-
Smartworks Coworking Spaces IPO: Key offer details
The company in this offer is raising Rs 582.56 crore. This includes a fresh issue of shares of Rs 445 crore and an offer-for-sale (OFS) of 33.79 lakh equity shares. This amounts to a total of Rs 137.56 crore. The price band has been set between the range of Rs 387 to Rs 407 per share, and bids can be placed in lots.
The lead manager for this issue is JM Financial. On the other hand, MUFG Intime India (Link Intime) is handling the registrar responsibilities.
Smartworks Coworking Spaces IPO: GMP update
In the grey market, Smartworks shares are currently trading at a premium of Rs 20. Based on this, the potential listing price is being pegged around Rs 427 per share, nearly a 5% gain over the upper end of the price band.
In addition, it is also important to note that this is not the official listing price and tends to fluctuate with sentiment.
Smartworks Coworking Spaces IPO: Subscription numbers so far
The IPO is subscribed 1.53 times so far on Day 3. The retail category has seen interest with 1.58 times subscription, followed by 2.59 times in the Non-Institutional Investor (NII) category. However, the Qualified Institutional Buyer (QIB) portion lags at 0.65 times, something to watch as the final tally comes in by the end of the day.
Smartworks Coworking Spaces IPO: Allotment and listing date
Once the subscription window closes today, the share allotment process is expected to be finalised by Tuesday, July 15. If all goes as scheduled, Smartworks Coworking shares will debut on the BSE and NSE on Thursday, July 17. Investors can check their allotment status via BSE, NSE, Link Intime portal once it goes live.
Smartworks Coworking Spaces IPO: Who backed Smartworks?
Ahead of its IPO, Smartworks raised Rs 173.64 crore through its anchor book on July 9.
Smartworks Coworking Spaces IPO: What does Smartworks do?
The company was founded in 2015. It provides fully-managed, tech-enabled office spaces to enterprise needs.
Furthermore, it offers modern campuses equipped with amenities like cafeterias, gyms, crèches, and medical facilities. Its client base includes startups, Indian corporates, and global MNCs. It combines flexible office designs with smart technology.