New Delhi, July 17 (H.S.): Smartworks co working spaces successfully launched its shares on the stock market, with an IPO price of ₹407. The shares debuted at ₹436.10 on the BSE, marking a 7% increase, and ₹435 on the NSE. Following initial trading, the shares surged to the upper circuit limit of ₹457, allowing IPO investors to earn a 12.28% profit on the first day.

The IPO was valued at ₹582.56 crore and open for subscription from July 10 to 14, receiving strong interest with a total subscription of 13.92 times. The portion reserved for Qualified Institutional Buyers (QIB) was oversubscribed by 247.92 times, while Non-Institutional Investors (NII) subscribed 23.68 times. Retail investors subscribed 3.69 times, and the employee segment was 2.51 times.

The IPO issued ₹445 crore in new shares and sold 3,379,740 shares with a face value of ₹10 through an offer for sale. Proceeds will fund security deposits for new centers and repay existing debt. In financial terms, the company reported a net loss of ₹101.05 crore in FY 2022-23, reduced to ₹49.96 crore in 2023-24, but rose to ₹63.18 crore in 2024-25, with revenue at ₹1,409.67 crore and a CAGR exceeding 37%.

Hindusthan Samachar / Jun Sarkar