Latest news with #SpaceSolutionsIndia
Business Standard
4 days ago
- Business
- Business Standard
Smartworks Coworking Spaces jumps on debut
Shares of Smartworks Coworking Spaces were currently trading at Rs 461.50 at 10:30 IST on the BSE, representing a premium of 13.39% compared with the issue price of Rs 407. The scrip was listed at Rs 436.10, exhibiting a premium of 7.15% to the issue price. So far, the stock has hit a high of Rs 469 and a low of Rs 436. On the BSE, over 12.48 lakh shares of the company were traded in the counter so far. The initial public offer of Smartworks Coworking Spaces received was subscribed 13.45 times. The issue opened for bidding on 10 July 2025 and it closed on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. The issue comprised a fresh equity issue of Rs 445 crore and an offer for sale (OFS) of 3,379,740 sharesincluding 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 centers 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 centers 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.
Business Standard
6 days ago
- Business
- Business Standard
Smartworks Coworking Spaces IPO ends with 13.45x subscription
The offer received bids for 13.99 crore shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 13,99,09,320 shares as against 1,04,01,828 shares on offer. The issue was subscribed 13.45 times. The Qualified Institutional Buyers (QIBs) category was subscribed 24.41 times. The Non-Institutional Investors (NIIs) category was subscribed 22.78 times. The Retail Individual Investors (RIIs) category was subscribed 3.53 times. The issue opened for bidding on 10 July 2025 and it closed on 14 July 2025. The price band of the IPO is fixed between Rs 387 and 407 per share. The issue comprised 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 centers 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.
Business Standard
14-07-2025
- Business
- Business Standard
Smartworks Coworking Spaces IPO subscribed 13.45 times
The offer received bids for 13.99 crore shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 13,99,08,852 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:30 IST on Monday (14 July 2025). The issue was subscribed 13.45 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.
Business Standard
11-07-2025
- Business
- Business Standard
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.
Business Standard
10-07-2025
- Business
- Business Standard
Smartworks Coworking Spaces IPO subscribed 0.50%
The offer received bids for 52.21 lakh shares as against 1.04 crore shares on offer. The initial public offer of Smartworks Coworking Spaces received bids for 52,21,188 shares as against 1,04,01,828 shares on offer, according to stock exchange data at 17:00 IST on Thursday (10 July 2025). The issue was subscribed 0.47 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 3,379,740 sharesincluding 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 centers, 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 centers 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.
