MUMBAI— Smartworks Coworking Spaces reported a net loss of Rs 63.17 crore in FY25, a 21 percent increase from its FY24 loss of Rs 49.95 crore, according to its red herring prospectus (RHP) filed ahead of its upcoming initial public offering (IPO).
The IPO will open for public subscription on July 10 and close on July 14. The price band is set at Rs 387–407 per share, and retail investors will need to bid in lots of 36 shares.
The share allocation to anchor investors is scheduled for July 9. The offering includes a fresh issue worth Rs 445 crore and an offer for sale (OFS) of 3,379,740 equity shares.
Originally, Smartworks planned to raise over Rs 550 crore through fresh shares, but this was later revised to Rs 445 crore. The OFS size was also reduced from 6,759,000 shares to 3,379,740 shares.
Stakeholders expected to participate in the OFS include NS Niketan LLP, SNS Infrarealty LLP, and Space Solutions India Pte. Ltd.
Of the total funds raised, approximately Rs 226 crore will be allocated to capital expenditures for security deposits and fit-outs at new centers. Another Rs 114 crore will be used to repay loans, with the remaining amount earmarked for general corporate purposes.
Despite widening losses, the Gurugram-based company’s operating revenue grew significantly, reaching Rs 1,374.05 crore in FY25—up from Rs 1,039.36 crore in FY24.
Smartworks currently operates 48 coworking locations across India, with a combined seating capacity of over 190,000.
JM Financial, BOB Capital Markets, IIFL Capital Services, and Kotak Mahindra Capital Company are acting as the book-running lead managers for the IPO. MUFG Intime India Pvt. Ltd. is serving as the registrar. (Source: IANS)
