Smartworks IPO Opens, Targets Rs 583 Crore
Smartworks IPO Opens, Targets Rs 583 Crore

Smartworks IPO Opens, Targets Rs 583 Crore

News summary

Smartworks Coworking Spaces Ltd is opening its IPO on July 10, aiming to raise about Rs 583 crore through a mix of fresh equity and an offer-for-sale, with the price band set at Rs 387-407 per share and the subscription closing on July 14. The IPO is expected to give Smartworks a post-listing valuation of around Rs 4,645 crore. Proceeds will be used mainly for new office fit-outs, repayment of Rs 114 crore in debt, and general corporate purposes, with offer-for-sale funds going to existing shareholders. Shares are trading at a grey market premium of Rs 27-29, suggesting a 6-7% gain over the upper price band at listing. Financially, the company reported a net loss in the last fiscal year but saw revenue grow to Rs 1,374 crore for 2024-25. Analysts see the IPO as fairly valued and recommend subscribing for the long term, noting a P/S ratio of 3.3x and EV/EBITDA of 9.7x.

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