logo
Smartworks Coworking Spaces IPO subscribed 1.19 times

Smartworks Coworking Spaces IPO subscribed 1.19 times

The offer received bids for 1.19 crore shares as against 1.04 crore shares on offer.
The initial public offer of Smartworks Coworking Spaces received bids for 1,19,96,496 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:00 IST on Friday (11 July 2025). The issue was subscribed 1.19 times.
The issue opened for bidding on 10 July 2025 and it will close on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. An investor can bid for a minimum of 36 equity shares and in multiples thereof.
The issue comprises a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 33,79,740 shares including 8,00,000 shares by promoters and 25,79,740 shares by investor shareholder Space Solutions India. Within the promoter OFS, NS Niketan LLP will offload 4,90,000 shares and SNS Infrarealty will sell 3,10,000 shares. Post-issue, Space Solutions India will retain a 19% stake.
Of the net proceeds from the fresh issue, Rs 114 crore will be used to repay or prepay certain borrowings, Rs 225.84 crore will go towards capital expenditure for fit-outs and security deposits for new centres, and the balance will be used for general corporate purposes. The companys total consolidated borrowings stood at Rs 381.97 crore as of 30 April 2025.
Smartworks Coworking Spaces (SCSL), promoted by Neetish Sarda, Harsh Binani, and Saumya Binani, is Indias largest managed campus operator by leased and managed space. As of March 2025, it operates 8.99 million sq ft across 50 centres in 15 cities, with a seat capacity of over 2 lakh. The company follows an asset-light model, leasing large bare-shell properties and converting them into tech-enabled campuses with modern amenities.
Its top marketsPune, Bengaluru, Hyderabad, and Mumbaiaccounted for over 75% of FY25 rental revenue. SCSL served 728 clients as of June 2025, with enterprise clients contributing nearly 88% of rental income. Lease rentals made up over 93% of FY25 revenue. The company plans to expand into variable rental and management contract models going forward.
Ahead of the IPO, Smartworks Coworking Spaces on Wednesday, 9 July 2025, raised Rs 173.64 crore from anchor investors. The board allotted 42.66 lakh shares at Rs 407 each to 13 anchor investors.
The firm reported a consolidated net loss of Rs 63.18 crore and sales of Rs 1,374.06 crore for the twelve months ended on 31 March 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!
Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!

India.com

time11 minutes ago

  • India.com

Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!

State Bank of India (SBI) is the largest government-owned and leading bank in the country, serving over 50 crore customers, with more than 50,000 employees and over 22,500 branches. People usually visit banks to take loans or to deposit money to save or earn interest. But the country's biggest bank pays cricketer MS Dhoni Rs 6 crore and actor Abhishek Bachchan Rs 18.5 lakh every month. You might be wondering why the bank pays these large sums of money to these two personalities. Even though Mahendra Singh Dhoni no longer plays cricket, he still enjoys immense popularity. Dhoni is a brand endorsement juggernaut, having received a hefty part of his earnings from his brand endorsements. There is a long list of companies that are utilizing Dhoni's brand image, and one of them is SBI. Since 2023, Dhoni has been an ambassador for India's largest bank, State Bank of India, and has been appearing in advertisements for SBI. SBI pays a hefty amount of money for brand endorsement. For endorsing State Bank of India (SBI)'s schemes, plans, and various banking facilities through advertisements, MS Dhoni receives an annual fee of ₹6 crores. MS Dhoni is the brand image of SBI and receives this fee for that purpose. Sharing a post, SBI's official Instagram account wrote, 'We are pleased to onboard MS Dhoni as Brand Ambassador of SBI. Mr. Dhoni's association with SBI as a satisfied customer makes him a perfect embodiment of our brand's ethos. With this partnership, we aim to reinforce our commitment to serving the nation and our customers with trust, integrity and unwavering dedication. – Mr Dinesh Khara, Chairman SBI.' The post was published on October 28, 2023. SBI also pays Abhishek Bachchan Rs 18.9 lakh every month. This is the amount the Bachchan family receives as rent because Abhishek has let out the ground floor of his opulent Juhu bungalow, Ammu and Vats, to SBI. The lease is for 15 years, and according to the lease, SBI pays the Bachchan family Rs 18.9 lakh every single month as rent. In fact, according the the report published on Abhishek makes this amount without any effort. The property, located near the Bachchan family's residence 'Jalsa,' spans 3,150 square feet. Essentially, Abhishek Bachchan makes almost ₹19 lakh, just for a ground-floor flat rental. The lease agreement was registered on September 28, 2021. The lease agreement spans 15 years and includes scheduled rent hikes over time: After 5 years, the monthly rent will increase to Rs 23.6 lakh. After 10 years, it will further rise to Rs 29.5 lakh.

CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30
CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30

Indian Express

time11 minutes ago

  • Indian Express

CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30

The Indian Institute of Management (IIM) Kozhikode will organise this year's Common Admission Test (CAT). The registration for CAT 2025 will start from August 1, and the exam will be held on Sunday, November 30. The notification was released in various national newspapers; however, the IIM Kozhikode will make the official website of the CAT 2025 live soon. The link for registration is This is the same website that was used in CAT 2024. The Common Admission Test (CAT) 2025 is scheduled to be conducted in three sessions through a computer-based test (CBT) format. An official notification detailing the exam and related guidelines will likely be published shortly on the CAT website. For this year, the registration fee has been set at Rs 1,300 for candidates belonging to SC, ST, and PwD categories, while all other applicants will need to pay Rs 2,600. The application process for CAT 2025 will commence on August 1 at 10 am and conclude on September 13 by 5 pm. Admit cards will be made available to candidates starting November 5, ahead of the exam scheduled for November 30. The results are tentatively expected in the first week of January 2026. This year, the examination will be conducted across approximately 170 cities, and candidates will have the opportunity to choose up to five preferred cities while selecting their test centres. –While applying for CAT 2025, candidates are required to upload scanned copies of their Class 10 and 12 mark sheets, along with either graduation certificates or their most recent semester results if they're currently in the final year. Applicants may also include work experience certificates, where relevant. Additionally, a valid photo ID and applicable category certificates for SC, ST, or PwD candidates need to be uploaded. –A recent passport-size photograph and signature are mandatory, and final-year students must also provide a certificate issued by their respective institution. CAT 2025 serves as an entrance gateway for admission to postgraduate as well as fellow/doctoral programmes offered by the Indian Institutes of Management (IIMs) and other participating institutions. However, it is important to note that CAT scores are just one component of the overall selection process. Candidates will be required to take part in additional evaluation stages, the specifics of which will be announced later on the respective institute websites. Last year, the Indian Institute of Management (IIM) Calcutta conducted the exam, wherein 14 candidates had scored 100 percentile, of which only one was a woman. Moreover, 13 aspirants were from an engineering background, while only one was a non-engineer. Of the 2.93 lakh candidates who appeared for the exam in 2024, 1.07 lakh were female candidates, 1.86 lakh were male candidates, and 5 were transgender candidates.

Tender issued for widening of accident-prone Nuh-Alwar highway to 4 lanes
Tender issued for widening of accident-prone Nuh-Alwar highway to 4 lanes

Indian Express

time11 minutes ago

  • Indian Express

Tender issued for widening of accident-prone Nuh-Alwar highway to 4 lanes

The highway connecting Haryana's Nuh with Alwar in Rajasthan is set to become a four-lane stretch within two years to reduce traffic congestion and provide better connectivity in this region. The Ministry of Road Transport and Highways (MoRTH) Thursday issued a notice inviting tender (NIT) for the four-laning of the 49.02-km stretch on the Nuh-Alwar highway (NH-248A). The current single-lane road has created traffic issues, reportedly resulting in approximately 3,000 deaths due to road accidents over the past 12 years. The project of four-laning is estimated to cost Rs 310.44 crore. To be executed under the engineering, procurement, and construction (EPC) mode, it includes strengthening and improving a 6.84-km section of the existing road in Malab and Bhadas villages in Nuh district, Haryana. The tender, issued by the superintending engineer and regional officer of the MoRTH in Jaipur, invites bids from qualified contractors. The completion period is 24 months, followed by a five-year maintenance period after the construction is complete. Bids can be submitted online via the Central Public Procurement Portal (CPPP) and Bill Information and Management System (BIMS) from July 24 to September 8, with the bid opening scheduled for September 9. The development comes after the Union government in April approved the project to convert the single-lane stretch into a four-lane road. On November 3, 2008, then Union minister S Jaipal Reddy laid the foundation for the four-lane road project. However, the project has remained in limbo. In a post on X, Transport Minister Nitin Gadkari in April said, 'This national highway section connects Gurugram, Sohna, and Nuh industrial areas. Due to the movement of heavy vehicles from Rajasthan to northern states, there is heavy traffic on this route. Making this section four-lane will reduce heavy traffic and provide better connectivity, which will promote economic development in this area.' Nuh Congress MLA Aftab Ahmed had earlier claimed it was the Manmohan Singh government that initiated works to convert the route into a national highway in 2014. 'But the BJP governments at the Centre and the state dropped this four-laning project in 2018, saying that the upcoming Delhi-Mumbai Expressway will take care of the needs of the people,' he had said. The Congress raised the issue repeatedly in the Haryana Assembly, Ahmed said, adding that he wrote to the ministry in December 2024 about the stretch between Nuh and the Rajasthan border via Ferozepur Jhirka.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store