Smartworks Coworking Spaces Limited’s Initial Public Offer Opens On Thursday July 10, 2025
FinTech BizNews Service
Mumbai, July 7, 2025: Smartworks Coworking Spaces Limited (“Smartworks” or “The Company”), proposes to open the Bid / Offer Period in relation to its initial public offer of the Equity Shares (“Offer”) on Thursday, July 10, 2025.
(L to R): Kalpana Devnani (CHRO, Smartworks); Gokul Nolambur Rajasekar (CTO, Smartworks); Devendra Maydeo ( IIFL Capital Services); Anurag Sen (JM Financial); Pratik Agarwal (CBO, Smartworks); Harsh Binani (ED, Smartworks); Neetish Sarda (MD, Smartworks); Sahil Jain (CFO, Smartworks); Anirudh Tapuriah (CSO & IR, Smartworks); Abhijit Tripathi (BOB Capital Markets) and Deepak Aswani Kotak Mahindra Capital) at the IPO launch Press Conference
The Total Offer Size comprises a fresh issue of number of Equity Shares by the Company aggregating up to Rs4,450 million (the “Fresh Issue”) and offer for sale of up to 3,379,740 Equity Shares (“Offer for Sale”) by certain existing shareholders of the Company (the “Selling Shareholders”) (the “Total Offer Size”).
A discount of Rs 37 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
The Company proposes to utilise the Net Proceeds towards repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company to the extent of Rs1,140 million, capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres to the extent of Rs2,258.40 million and balance amount towards general corporate purpose (the “Objects of the Offer”).
The Offer for Sale comprises up to 490,000 Equity Shares by NS Niketan LLP, up to 310,000 Equity Shares by SNS Infrarealty LLP (“Promoter Selling Shareholders”) and up to 2,579,740 Equity Shares by Space Solutions India Pte. Ltd. (formerly Lisbrine Pte Limited) (“Investor Selling Shareholders”) (collectively, the “Investor Selling Shareholders”).
The Anchor Investor Bid/Offer Period opens and closes on Wednesday, July 9, 2025. The Bid/Offer Period will open on Thursday, July 10, 2025 for subscription and close on Monday, July 14, 2025.
The Price Band of the Offer has been fixed at Rs387 to Rs407 per Equity Share. Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter.
This Equity Shares are being offered through the Red Herring Prospectus of the Company dated July 4, 2025 filed with the Registrar of Companies, Delhi & Haryana at New Delhi. (The “RoC”)
The Equity Shares to be offered through the Red Herring Prospectus dated July 4, 2025 are proposed to be listed on the stock exchanges being BSE Limited and National Stock Exchange of India Limited. For the purposes of the Offer, NSE is the Designated Stock Exchange. ”)
JM Financial Limited, BOB Capital Markets Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Kotak Mahindra Capital Company Limited are the book running lead managers to the Offer.
