The scrip was listed at Rs 436.10, exhibiting a premium of 7.15% to the issue price.

So far, the stock has hit a high of Rs 469 and a low of Rs 436. On the BSE, over 12.48 lakh shares of the company were traded in the counter so far.

The initial public offer of Smartworks Coworking Spaces received was subscribed 13.45 times. The issue opened for bidding on 10 July 2025 and it closed on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share.

The issue comprised a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 3,379,740 shares—including 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake.

Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centers and the balance will be used for general corporate purposes. The company’s total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025.

Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is India’s largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centers in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities.

Its top markets—Pune, Bengaluru, Hyderabad, and Mumbai—accounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward.

Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors.

The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.