Smartworks Coworking Spaces Files IPO Draft Papers with SEBI to raise funds

Smartworks Coworking Spaces Files IPO Draft Papers with SEBI to raise funds

Smartworks Coworking Spaces Ltd, a leading player in the Indian coworking space industry, has initiated its journey towards a public listing by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is looking to raise Rs. 550 crore through a combination of fresh issue of shares and an offer for sale (OFS) by existing shareholders.

IPO Details

The IPO is expected to comprise a fresh issue of equity shares worth Rs.550 crore, with the remaining amount to be raised through an OFS by promoters and existing investors. The company intends to utilize the net proceeds from the fresh issue for expanding its network of coworking spaces, strengthening technology infrastructure, and general corporate purposes.

The IPO process is managed by JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd, and Kotak Mahindra Capital Company Ltd. Link Intime India Private Limited is the registrar for this issue.

Company Overview

Smartworks has emerged as a dominant player in the Indian coworking space market, offering flexible and fully-serviced workspaces to a diverse clientele, including startups, enterprises, and freelancers. With a strong presence across multiple cities, the company provides a range of workspace solutions tailored to the evolving needs of the modern workforce.