Smartworks Coworking IPO

Smartworks Coworking Spaces provides managed office spaces through its office experience and managed campus platform. As of FY25, the company has leased and manages a total super built-up area (SBA) of 8.99 million square feet. Its offerings are primarily targeted at mid-to-large enterprises, including Indian corporates, multinational companies operating in India, and startups. The company equips its campuses with design-driven workspaces, integrated technology solutions, and amenities such as cafeterias, gymnasiums, crèches, medical centres, smart convenience stores, and recreational zones. These facilities are included as part of the managed campus environment to serve the operational and daily needs of client employees. The company operates across multiple cities in India and had a lease-signed portfolio of 8.0 million square feet as of FY24. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS).​ The net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will go to the company and be used for the following purposes​: Repayment/prepayment/redemption, in full or in part, of certain borrowings availed of by the company. To fund the capital expenditure requirements for fit-outs in the new centres and for security deposits of the new centres. General corporate purposes.;