Smartworks IPO Set to Transform Office Spaces

Smartworks Coworking Spaces Ltd has set a price range of Rs 387-407 per share for its Rs 583 crore IPO. Scheduled from July 10 to July 14, it's seeking to enhance its managed campuses. The funds will be used for expansions, debt repayments, and general corporate purposes.

Smartworks Coworking Spaces Ltd, a leader in office experiences, has announced a price band of Rs 387-407 per share for its Rs 583 crore Initial Public Offering (IPO) scheduled from July 10 to July 14.

The company revealed on Monday that the reduced IPO size includes a fresh issue of Rs 445 crore, down from Rs 550 crore, and an Offer for Sale (OFS) of 33.79 lakh shares, while anchor investors can bid on July 9.

The IPO funds will primarily be allocated towards capital expenditures for new centre fit-outs, security deposits, loan repayments, and general corporate needs. With a focus on mid-to-large businesses, Smartworks has expanded to cities like Bengaluru and Mumbai, reflecting a 20.80% CAGR in managed space between FY23 and FY25.

(With inputs from agencies.)