Smartwork Coworking Space Ltd. IPO

Smartworks, a leading coworking space provider is launching its IPO worth ₹582.56 crores. The issue includes a fresh issue of ₹445.00 crores through 1.09 crore new shares and an offer for sale of ₹137.56 crores through 0.34 crore shares, priced between ₹387 to ₹407 per share. The opening date for Smartwork Coworking Space IPO is 10th July, 2025 while the closing date is 14th July, 2025. The IPO is expected to be listed on BSE and NSE by 17th July, 2025. The minimum lot size investment required by retail investors is ₹13,932 (36 shares), for sNII is ₹2,05,128 (14 lots i.e. 504 shares), and for bNII is ₹10,10,988 (69 lots i.e. 2,484 shares). The issue can be reserved up to 1,01,351 shares for employees which is offered at a discount of ₹37.00 to the issue price.

Company Background

Smartworks Coworking Space Limited was founded in the year 2016, and is one of the largest providers of managed office spaces in India, offering end-to-end workspace solutions. It offers ready-to-move-in offices, flexible desks, and private offices, with a focus on technology integration and value-added services. Smartworks focuses on mid-to-large range Indian corporations, MNC’s and Startups.

Operations and Product Range

Facility and Production

Smartworks is located in over 14 cities in India, headquartered at Nehru Place, Delhi, equipped with integrated technology solutions such as client SPOC portal, facial recognition access, digitised meeting room and conference room booking system, food ordering via member app, digital checklists, and app-based smart access systems for common amenities like gym, creche and game room among others aimed at enhancing experience and workflows.

Brand and Market Presence

Smartworks emerged as India’s largest and profitable provider to enterprises, serving over 500 Corporate clients, including global MNCs; its clientele expands over industries like IT/ITeS, Consulting, Finance, Engineering and Telecom. The products and services of the company include Managed office spaces, Enterprise Membership Plans, Technology Enabled Workspace (Phygital Model), Integrated Amenities, Meeting and Event Spaces, Hot Desks and shared spaces.

Revenue Channels

Smartwork primarily generates revenue through:-

• Rentals - Most of the revenue generated by the company is through leasing office workspace to SME’s, Startups and corporations
• Custom Design Services - The company provides tailored design solutions to clients through high-end technological projects.
• Platform Fees - Revenue is also generated through a small fee that is charged to the clients for accessing their digital platform services.

The company shows an increase in revenue from Rs. 1,039.36 crore in FY24 to Rs. 1,374.06 crore in FY25.

Management and Shareholding

Promoters & Shareholding

Smartwork Coworking Space IPO is promoted by Neetish Sarda, Harsh Binani, Saumya Binani, NS Niketan LLP, SNS Infrarealty LLP, and Aryadeep Realestates Private Limited.

Board Members

The board includes both executive and non-executive members including Harsh Binani who is an Executive Director and Atul Gautam who is Chairman and Non-Executive Director. Independent directors VK Sabburaj and Pushpa Mishra are also part of the board. Ho Kiam Kheong also serves as the Non-Executive (nominee) Director.