Smartworks Coworking IPO Day 3: Oversubscribed 1.9 times so far

Smartworks Coworking Spaces Limited’s initial public offering was oversubscribed 1.9 times as of midday on its final trading day, with total bids reaching 1.97 crore shares against the 1.04 crore shares on offer.

The coworking space operator’s IPO, which closes today at 5 pm, saw strong demand from non-institutional investors who bid for 83.47 lakh shares against the 22.17 lakh shares reserved for them, resulting in 3.76 times oversubscription in this category. Within this segment, high-value bidders investing more than ₹10 lakh oversubscribed their portion by 4.04 times.

Retail individual investors bid for 94.05 lakh shares against the allocated 51.74 lakh shares, achieving 1.82 times subscription. The majority of retail bids came through the cut-off price option, with 79.29 lakh shares bid at the cut-off price.

However, qualified institutional buyers remained tepid, bidding for only 18.66 lakh shares against the 29.04 lakh shares reserved for them, resulting in 0.64 times subscription. Foreign institutional investors accounted for the bulk of QIB demand with 18.18 lakh shares.

The IPO is priced between ₹387-407 per share, comprising a fresh issue of ₹445 crore and an offer for sale of 33.79 lakh shares. JM Financial, BOB Capital Markets and IIFL Capital Services are the book running lead managers.

Published on July 14, 2025