Overview

• Smartworks’ IPO comprises a ₹445 crore fresh issue and sale of 33.79 lakh promoter shares, valuing the offering at about ₹583 crore.
• The company finalised anchor investor bids on July 9, and grey market trades at ₹28 per share imply a roughly 6.9% premium over the upper price band.
• Public subscription opens July 10 and closes July 14, with allotment on July 15 and a tentative listing on the BSE and NSE on July 17.
• Proceeds will fund ₹226 crore for new centre fit-outs and deposits, ₹114 crore for debt repayment and the balance for general corporate purposes.
• As of June 30, Smartworks managed over 10 million sq ft across 48 centres in India and two in Singapore, reporting FY25 revenue of ₹1,374 crore and consolidated debt of ₹382 crore as of April 2025.