Smartworks IPO Allotment GMP Highlights: Smartworks Coworking Spaces is all set to finalise its IPO share allotment on today, July 15, after receiving a response from investors. The IPO opened for bidding on July 10 and closed on July 14. The company aims to raise Rs 582.56 crore through this public issue, which includes a fresh issue worth Rs 445 crore and an offer-for-sale (OFS) of Rs 137.56 crore. The price band was set between Rs 387 to Rs 407 per share.
Smartworks, established in 2015, specialises in offering fully managed, technology-enabled office spaces designed to meet the needs of large enterprises. The IPO was managed by JM Financial as the lead book-running manager, while MUFG Intime India (formerly Link Intime) is overseeing the allotment and refund process as the registrar. The allotment status will be available on the registrar’s website once finalised.
Smartworks Coworking Spaces IPO Allotment Status Live: Here is how to check the status online
Smartworks IPO Allotment Live: Latest GMP
Smartworks Coworking IPO's latest Grey Market Premium (GMP) is Rs. 26, as of July 16, 2025, 6:55 PM. Based on the price band of Rs. 407.00, the estimated listing price is Rs. 433 (cap price + current GMP). This implies a potential gain of approximately 6.39% per share.
The IPO price band for Smartworks Coworking Spaces has been set at ₹407 per share. For retail investors, the minimum application size is one lot, consisting of 36 shares, which amounts to an investment of ₹13,932. For small non-institutional investors (sNII), the minimum investment is 14 lots, or 504 shares, totaling ₹2,05,128. For big non-institutional investors (bNII), the minimum application size is 69 lots, or 2,484 shares, which requires an investment of ₹10,10,988.
Smartworks IPO Allotment Live: Price band
The price band is set at Rs. 387 to Rs. 407 per share. The lot size for an application is 36. However, the minimum amount of investment required by an retail is Rs. 13,932 (36 shares).
Smartworks IPO Allotment Live: Minimum investment required for application
The lot size for the Smartworks Coworking Spaces IPO is 36 shares, with a minimum investment of Rs. 14,652.
Smartworks IPO Allotment Live: Who are the promoters of the company?
Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP and Aryadeep Realstates Private Limited are the promoters of the company.
Smartworks IPO Allotment Live: Latest GMP
At 04:55 PM, July 16, Smartworks IPO last GMP is Rs 26, with the price band of 407.00, and estimated listing price is Rs 433.
Smartworks IPO Allotment Live: About the company
Smartworks Coworking Spaces Limited, incorporated in 2015, specialises in providing customised managed workspace solutions. The company delivers fully serviced, technology-enabled office environments designed with modern aesthetics and equipped with essential amenities tailored to meet the needs of enterprises and their employees.
Smartworks primarily caters to mid-to-large-sized businesses, including Indian corporates, multinational companies (MNCs), and startups. Its campuses are designed to enhance employee well-being, offering facilities such as cafeterias, gyms, crèches, and medical centers, all integrated with smart technology and contemporary design.
As of March 31, 2025, Smartworks was serving 738 clients with a total of 152,619 seats. Currently, the company has 728 clients and 169,541 seats, of which 12,044 are yet to be occupied.
Smartworks IPO Allotment Live: Listing date
The Smartworks Coworking Spaces IPO is set to be listed on both the BSE and NSE, with the tentative listing date scheduled for July 17.
Smartworks IPO Allotment Live: About the lead manager
The lead manager for this issue is JM Financial. On the other hand, MUFG Intime India (Link Intime) is handling the registrar responsibilities.
Smartworks IPO Allotment Live: GMP update
Ahead of the listing, the share price of the company is trading at a premium of Rs 24. This translates to an estimated listing price of Rs 431, which is nearly 6% above the issue upper price band of Rs 407 per share.
However, it is important to note that this is not the official listing price and may fluctuate based on the market sentiment.
Smartworks IPO Allotment Live: Deven Choksey Research on Smartworks IPO
"Smartworks Coworking Spaces initial issue is priced at 5.8x TTM EV/EBITDA compared to 14.4x of its domestic listed peer and industry avg. of 6.8x TTM EV/EBITDA of global listed peers. Moreover, the issue is priced at 20.4x FY25 EV/Adj. Cash EBITDA compared to 49.9x FY25 EV/Adj. Cash EBITDA of its domestic listed peer," said Deven Choksey Research in its IPO note.
Smartworks IPO Allotment Live: Bajaj Broking on Smartworks
"As a result, it incurs significant interest expenses and depreciation charges under the "Right-of-Use" (ROU) asset accounting treatment, in accordance with Ind AS 116. This accounting structure impacts the Company’s EBITDA positively (as lease rentals are not included) but results in elevated finance costs and depreciation expenses, thereby exerting pressure on its net profitability.nThe issue is priced at a P/BV of 38.58 based on its NAV of Rs. 10.55 as of March 31, 2025, and at a P/BV of 8.40 based onnits post-IPO NAV of Rs. 48.45 per share (at the upper cap)," said Bajaj Broking in its IPO note.
Smartworks IPO Allotment Live: Listing date
The Smartworks Coworking Spaces IPO is set to make its market debut on both the BSE and NSE, with the tentative listing date scheduled for Thursday, July 17.
Smartworks IPO Allotment Live: Subscription recap
Smartworks Coworking Spaces IPO saw strong investor interest as the public issue closed with an overall subscription of 13.92 times. The strong demand was primarily driven by Qualified Institutional Buyers (QIBs), who bid 24.92 times their reserved portion. Non-Institutional Investors (NIIs) were not far behind, subscribing 23.68 times, while retail investors also showed healthy participation, with their quota subscribed 3.69 times.
Smartworks IPO Allotment Live: Latest GMP update
At 08:01 PM, the latest GMP is Rs. 17, with an estimated pricing is Rs 424 and price band of 407.00
The lot size for the Smartworks Coworking Spaces IPO is 36 shares, with a minimum investment of Rs. 14,652.
Smartworks IPO Allotment Live: Who backed Smartworks?
Smartworks raised Rs 173.64 crore through its anchor book on July 9 ahead of its IPO
Smartworks IPO Allotment Live: About the lead manager
The lead manager for this issue is JM Financial. On the other hand, MUFG Intime India (Link Intime) is handling the registrar responsibilities.
Smartworks IPO Allotment Live: About the company
Smartworks Coworking Spaces Limited, incorporated in 2015, specialises in providing customised managed workspace solutions. The company delivers fully serviced, technology-enabled office environments designed with modern aesthetics and equipped with essential amenities tailored to meet the needs of enterprises and their employees.
Smartworks primarily caters to mid-to-large-sized businesses, including Indian corporates, multinational companies (MNCs), and startups. Its campuses are designed to enhance employee well-being, offering facilities such as cafeterias, gyms, crèches, and medical centers, all integrated with smart technology and contemporary design.
As of March 31, 2025, Smartworks was serving 738 clients with a total of 152,619 seats. Currently, the company has 728 clients and 169,541 seats, of which 12,044 are yet to be occupied.
Smartworks IPO Allotment Live: Latest GMP Update
At 06:00 PM, the latest GMP is Rs.17, with an updated price band of 407. Estimated listing price is Rs. 424.
Smartworks IPO Allotment Live: IPO share allocation breakdown
Smartworks is offering a total of 1,43,22,615 shares in its IPO. Of these, 71,10,632 shares (49.65%) are allocated to Qualified Institutional Buyers (QIBs), 21,33,190 shares (14.89%) to Non-Institutional Investors (NIIs), 49,77,442 shares (34.75%) to Retail Individual Investors (RIIs), and 42,66,378 shares (29.79%) to Anchor Investors. Additionally, there is a mention of another 28,44,254 shares (19.86%) allocated to QIBs, which may indicate a possible overlap or misclassification, as the total allocation percentage exceeds 100%.
Smartworks IPO Allotment Live: Promoters of the company
Aryadeep Realstates Private Limited, Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP are the promoters of the company
Smartworks IPO Allotment Live: Price band set at Rs 387 to Rs 407
Smartworks Coworking Spaces has set the price band for its IPO at ₹387 to ₹407 per share. The minimum lot size for retail investors is 36 shares, requiring a minimum investment of ₹13,932
Smartworks IPO Allotment Live: Latest GMP update
At 04:01 PM, the updated GMP is Rs 17. The estimated listing price is Rs.424 and the expected percentage gain/loss in each share is 4.18
Smartworks IPO Allotment Live: Price band
The price band is set at Rs. 387 to Rs. 407 per share. The lot size for an application is 36. However, the minimum amount of investment required by an retail is Rs. 13,932 (36 shares).
Smartworks IPO Allotment Live: Listing to likely take place on July 17
Smartworks Coworking Spaces IPO will be listed on BSE, NSE with a tentative listing date fixed as Thursday, July 17, 2025.
Smartworks IPO Allotment Live: Keep an eye on profits
All eyes are on the Smartworks IPO alotment-
According to Ventura, The net profit "continues to remain negative due to high lease liabilities. SmartWorks has a net debt of Rs 299 cr. We would recommend to monitor PBT turning positive with economies of scale improving further."
They believe improvement in profitability is crucial.
Bajaj Broking believes that the company has emerged as one of the leading suppliers of office experience and managed campus platforms. Its thrust on MNC customers with long-term contracts has yielded desired benefits.
The Company operates with a high lease liability due to its long-term, fixed-cost lease agreements across multiple centres. As a result, it incurs significant interest expenses and depreciation charges under the "Right-of-Use" (ROU) asset accounting treatment, in accordance with Ind AS 116.
According to them, "this accounting structure impacts the Company’s EBITDA positively (as lease rentals are not included), but results in elevated finance costs and depreciation expenses, thereby exerting pressure on its net profitability."
They see the valuation. edging towards being stretched at current levels. Bajaj Broking estomates that "issue is priced at a P/BV of 38.58 based on its NAV of Rs 10.55 as of March 31 and at a P/BV of 8.40 based on its post-IPO NAV of Rs. 48.45 per share (at the upper cap)."
Smartworks IPO Allotment Live: Listing date and key players of the issue
Smartworks Coworking Spaces is gearing up for its market debut with a price band set between Rs 387 to Rs 407 per share. The company’s IPO, which has already seen strong subscription demand, is scheduled to list on both the BSE and NSE, with the tentative listing date set for Thursday, July 17. JM Financial is leading the issue as the book-running manager, while MUFG Intime (Link Intime) has been appointed as the registrar.
Smartworks IPO Allotment Live: Subscription recap
The Smartworks Coworking Spaces IPO wrapped up its bidding process on a strong note. By the final day, the issue was subscribed 13.92 times overall. The Qualified Institutional Buyers (QIBs) led the charge with an impressive 24.92 times subscription, while Non-Institutional Investors (NIIs) followed closely at 23.68 times. Retail investors also showed solid participation, subscribing 3.69 times their allotted quota.