Overview

• The three-day bidding window closed July 14 with 13.45x overall subscription, including 24.41x from QIBs, 22.78x from NIIs and 3.53x from retail investors
• The basis of allotment is finalized on July 15 and investors can expect refunds and share credits ahead of trading on July 17
• Unofficial grey market premiums of around ₹22 per share imply a potential listing gain of approximately 5%
• Of the ₹445 crore fresh issue proceeds, ₹226 crore is earmarked for new centre fit-outs and deposits, ₹114 crore for loan repayment and the balance for general corporate purposes
• Founded in 2015, Smartworks operates 48 managed workspaces with over 190,000 seats, reported FY25 revenue of ₹1,374 crore and a ₹63.17 crore net loss alongside ₹382 crore of consolidated debt