Smartworks Coworking IPO listing date today. Here’s what Smartworks Coworking IPO GMP, experts signal on share debut
Smartworks Coworking IPO listing date has been scheduled for today (Thursday, July 17) on the bourses at 10:00 IST. According to details on the BSE website, Smartworks Coworking Spaces share price will list in a special pre-open session on both the BSE and NSE during Thursday’s trades. Smartworks Coworking Spaces share price today will be available for trade from 10:00 IST.
According to a notice from BSE, trading members of the exchange are hereby notified that starting Thursday, July 17, 2025, the equity shares of Smartworks Coworking Spaces Limited will be listed and permitted for trading on the Exchange within the ‘B’ Group of Securities.
Smartworks Coworking IPO allotment was finalised on Tuesday, July 15. The crediting of shares to demat accounts for individuals who have been granted shares took place on Wednesday, July 16. Further, on Wednesday it also marked the completion of the process of returning shares to individuals who have not yet received them. With strong support from qualified institutional buyers (QIBs), and non institutional investors (NIIS), Smartworks Coworking IPO subscription status was 13.45 times on the final day of bidding on Monday, July 14 as per BSE data.
According to Jickson Sajee, Research Analyst, INVasset PMS, Smartworks isn’t just another coworking startup chasing millennial buzz—it’s India’s largest managed office space provider by area under management, clocking over 8 million sq. ft. across 13 cities and 41 centers. With a business model that blends long-term leases from landlords with customized workspace solutions for enterprises, it’s positioned closer to a B2B asset-light operator than a traditional coworking firm. Over 90% of its revenue comes from enterprise clients, reducing volatility tied to freelancers or startups.
Sajee highlighted that the company posted ₹1,374 crore in revenue in FY25, a staggering jump from ₹711 crore in FY23, driven by demand from IT, BFSI, and GCCs expanding into flexible hubs. EBITDA has grown even faster—from ₹36 crore to ₹172 crore in two years, reflecting strong operating leverage. Still, Smartworks remains net loss-making, largely due to depreciation and finance costs. Its net worth stands at ₹108 crore, and post-IPO net debt-to-equity will moderate to ~0.5x, offering improved balance sheet strength.
Jickson Sajee believes valuation-wise, Smartworks is being offered at a market cap of ~ ₹4,645 crore, implying a P/S ratio of ~3.4x and P/B of ~8.4x. While peer Awfis trades at slightly richer multiples with a lower revenue base, its improving margin profile puts pressure on Smartworks to deliver similar profitability soon. EFC Ltd, another competitor, operates on a smaller scale but follows a more asset-heavy model. In essence, Smartworks offers scale and visibility—but the next leg of rerating hinges on margin expansion and break-even visibility.
Smartworks Coworking IPO listing price prediction
Mahesh M. Ojha, AVP Research & Business Development,Hensex Securities Pvt. Ltd, said that Smartworks Coworking IPO looks fairly priced . Ojha believes that one can see limited listing gain of 3-5%. Investor who have applied for listing gain they can book profit. Investor who have long-term horizon can hold the stock. Further, the industry outlook is positive.
Further, Mahesh explained that the company aspires to double its market share in the flexible office workspace over the next 3-5 years . The debt-to-equity ratio is at 3.7x in FY25 (excluding lease liabilities), and upon utilisation of net proceeds from the IPO for debt repayment (~ ₹114cr), the debt-to-equity ratio will trim down to 0.5x. The company maintaining good operating cash flows that is also good indication.
Smartworks Coworking Spaces IPO GMP today
Smartworks Coworking IPO GMP today is +25. This indicates Smartworks Coworking share price was trading at a premium of ₹25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Smartworks Coworking share price was indicated at ₹432 apiece, which is 6.14% higher than the IPO price of ₹407.
According to the grey market activities from the past 12 sessions, today’s IPO GMP is showing an upward trend, suggesting a robust listing. The minimum GMP recorded is ₹0.00, while the maximum GMP is ₹32, as per experts from investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
