Smartworks Coworking sets IPO price band at Rs 387–407; issue opens on July 10

Smartworks Coworking, a flexible workspace provider, is gearing up to hit the public markets with its IPO. The company has set the price band at Rs 387 to Rs 407 per share, and the issue will open for subscription on July 10, 2025, closing on July 14, 2025.

Investors can apply in lots of 36 shares, translating to a minimum investment for retail bidders Rs 13,932 (at the lower end of the price band) and going up to Rs 14,652 (at the upper end). For small non-institutional investors (sNIIs), the minimum bid size is 14 lots (504 shares), amounting to approximately Rs 2,05,128. Large non-institutional investors (bNIIs) need to bid for at least 69 lots (2,484 shares), with the investment amount yet to be precisely disclosed.

The IPO is a book-built issue of up to Rs 582.56 crore, comprising a fresh issue of Rs 445 crore (1.09 crore equity shares) and an offer for sale (OFS) worth Rs 137.56 crore (33.79 lakh shares). The proceeds from the fresh issue will be used for business expansion, debt repayment, and general corporate purposes.


The IPO allotment is expected to be finalized on July 15, 2025, and the stock is tentatively scheduled to list on July 17, 2025, on both BSE and NSE.

Investor Categories & Allocation

As per SEBI guidelines, the allocation structure is as follows:

Qualified Institutional Buyers (QIBs): Up to 50% of the net offer
Retail Investors (RIIs): Up to 35%
Non-Institutional Investors (NIIs): Up to 15%

Additionally, employees applying under the reserved quota are eligible for a Rs 37 per share discount, with a maximum investment limit of Rs 5 lakh. Cut-off price bidding is allowed for retail and employee categories only.

Key Dates to Remember:

Anchor Investor Bidding: July 9, 2025
IPO Opens: July 10, 2025
IPO Closes: July 14, 2025
Anchor Lock-in (50% Shares): Ends August 14, 2025
Anchor Lock-in (Remaining Shares): Ends October 13, 2025

JM Financial Limited is serving as the book-running lead manager for the Smartworks Coworking IPO, while MUFG Intime India Private Limited has been appointed as the registrar to the issue.