Smartworks Coworking Spaces shares list at 7% premium; book profit or hold?

Business Standard

6 days ago

Smart works Coworking Spaces share price: Shares of Smart works Coworking Spaces made a positive D-Street debut on Thursday, July 17, following the completion of its initial public offering (IPO). The company's shares listed at ₹436.10 per share on the BSE, a premium of ₹29.10 per share or 7.15 per cent over the issue price of ₹407 per share.
On the National Stock Exchange (NSE), Smartworks Coworking Spaces shares listed at a slightly lower premium of ₹28 or 6.88 per cent at ₹435 apiece.
Smartworks Coworking Spaces IPO listing was almost in line with the grey market's estimates. Ahead of their market debut, the unlisted shares of Smartworks Coworking Spaces were trading at ₹432 per share, reflecting a grey market premium of ₹25, or 6.14 per cent over the issue price, revealed sources tracking unofficial market activity.
Should you book profit or hold?
Shivani Nyati, head of wealth, Swastika Investmart, remains optimistic about the company's long-term outlook. "The company has posted growth in its top line with cash earnings before interest, taxes, depreciation, and amortisation (Ebitda) at gross levels," said Nyati, adding, "Its focus on MNC customers with long-term contracts has yielded the desired benefits."
"Knowledgeable investors might park modest sums of money for the medium to long term, while others might consider taking profits," she added.
Smartworks Coworking Spaces IPO details
The public offering of Smartworks Coworking Spaces comprised a fresh issue of 10.9 million equity shares, aggregating to ₹445 crore, and an offer for sale (OFS) of up to 3.4 million equity shares worth ₹137.56 crore. It was offered at a price band of ₹387 and ₹407 per share, with a minimum lot size of 36 shares from July 10–July 14.
Smartworks Coworking Spaces IPO received a positive response from investors and ended up getting oversubscribed by 13.45 times, riding on the back of the Qualified Institutional Buyers (QIBs), who oversubscribed the category reserved for them by 24.41 times. This was followed by the Non-Institutional Investors (NIIs) at 22.78 times, and Retail Investors at 3.53 times.
Smartworks Coworking Spaces will not receive any proceeds from the offer for sale. The funds raised through the OFS will go directly to the selling shareholders. The company, however, proposes to use the net proceeds from the fresh issue to repay or prepay certain borrowings, invest in capital expenditure for fit-outs in new centres, and cover security deposits for these new centres. A portion of the funds will also be directed towards general corporate purposes.
About Smartworks Coworking Spaces
Smartworks Coworking Spaces Ltd (SCSL), incorporated in 2015, is India's largest managed campus operator offering 8.99 mn sq. ft. of leased and managed space across 50 centers in 15 cities (as of March 2025). Catering to mid-to-large enterprises, SCSL converts bare-shell properties into fully serviced, tech-enabled campuses featuring amenities like cafeterias, gyms, crèches, medical centers, and convenience stores to boost productivity and employee well-being. As of June 2025, it had a total capacity of 231,548 seats across 48 operational centers (190,421 seats), 2 under fit-out (15,042 seats), and 4 upcoming (26,085 seats).