🏢 Overview
- Founded in April 2016 by Neetish Sarda and Harsh Binani, Smartworks specializes in transforming large, shell office properties into fully serviced, tech-enabled managed campuses. They cater primarily to mid-to-large enterprises (300+ seats), but also serve smaller teams.
- By FY25, the company managed around 10 million sq ft across ~50 centres in 13–15 cities, serving approximately 800 corporate clients.
✅ Strengths & Challenges
Strengths
- Tech-enabled, fully-serviced campuses geared for enterprise clients
- Strong occupancy, diversified across locations
- Capital-efficient fit-out and fast payback (30–32 months for mature centres)
- Expanding in growing tier-II markets (Ahmedabad, Jaipur, Indore…)
Risks
- High finance and depreciation expenses from long-term lease liabilities.
- Concentration risk: revenue dominated by major cities (~75% from Pune, Bengaluru, Hyderabad & Mumbai).
- Reliance on a few large corporate clients per centre could impact demand if contracts terminate
🧭 Summary
Smartworks has built a strong pan‑India presence in premium, tech-forward coworking spaces aimed at large enterprises. Revenue and EBITDA growth are strong, with a track record of scaling efficiently. Yet, profitability remains challenged by lease-related costs and client concentration. The upcoming IPO aims to boost expansion, reduce debt, and strengthen their capital base. Investors should weigh growth momentum against inherent leasing risks.
Smartworks Coworking Spaces Ltd. IPO Timetable
| Particular | Date |
| IPO Open Date | 10 July 2025 |
| IPO Close Date | 14 July 2025 |
| Allotment Date | 15 July 2025 |
| IPO Listing Date | 17 July 2025 |
Smartworks Coworking Spaces Ltd. IPO Details
| Issue Type | Book Built Issue IPO |
| Face Value | Rs. 10 Per Equity Share |
| IPO Price | Rs. 387 to 407 Per Equity Share |
| Market Lot | 36 Share |
| ISIN Code | |
| Listing At | NSE & BSE |
| Issue Size | Approx. Rs. 583 Crore. |
Smartworks Coworking Spaces Ltd. IPO Lot Size
| Application | Lots | Shares | Amount |
| Minimum | 1 | 36 | Rs. 14652 |
| Maximum | 13 | 468 | Rs. 190476 |
| Small HNI (Minimum) | 14 | 504 | Rs. 205128 |
| Big HNI (Minimum) | 69 | 2484 | Rs. 1010988 |
Smartworks Coworking Spaces Ltd. IPO Allotment Status
Click Here To Check IPO Allotment Status Smartworks Coworking Spaces Ltd. IPO
Click Here To Get ASBA Forms Smartworks Coworking Spaces Ltd. IPO
Company Financials :
| Particular | 31 March 2025 | 31 March 2024 | 31 March 2023 |
| Total Assets | 4650.85 | 4147.08 | 4473.50 |
| Total Revenue | 1409.67 | 1113.11 | 744.07 |
| Profit After Tax | -63.18 | -49.96 | -101.05 |
Company Promoters:
Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrareality LLP and Aryadeep Realstates Private Limited are the promoters of the company.
Objects of this Issue:
- Repayment, in full or in part, of certain borrowings availed by the Company.
- Capital expenditure for fit-outs in the New Centres and for security deposits of the New Centres.
- General corporate purposes.
Registrar & Company Details
| Company Contact Information | IPO Registrar |
| Smartworks Coworking Spaces Ltd. Unit No. 305-310, Plot No 9, 10 and 11, Vardhman Trade Centre, Nehru Place, South Delhi, Delhi, New Delhi, 110019 Phone: +91 83840 62876 Email: companysecretary@sworks.co.in Website: https://www.smartworksoffice.com/home | MUFG Intime India Private Limited (Link Intime) Phone: +91-22-4918 6270 Email: smartwork.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
