Smartworks Coworking Spaces Limited

Smartworks Coworking Spaces Limited, incorporated in 2015, operates a managed office and campus platform that provides fully serviced, technology-enabled workspaces to businesses across India. The company designs and manages large, amenity-rich campuses, including one of India's largest leased office centres, Vaishnavi Tech Park in Bengaluru, and was the largest managed campus operator in India by total leased area as of March 2024. As of March 2025, the company served several hundred clients across hundreds of thousands of seats spanning around 40 to 50 centres in over a dozen cities, catering primarily to mid-to-large corporates, multinational companies, and startups. Its campuses combine workspace design, technology infrastructure, and amenities such as cafeterias and wellness facilities aimed at large enterprise tenants. Financially, the company has grown revenue rapidly, from about Rs 744 crore in FY23 to roughly Rs 1,410 crore in FY25, though it has continued to report net losses at the bottom line during this period, reflecting the capital-intensive, lease-driven nature of its business model.

Ahead of the issue, the company allocated about 42.07 lakh shares to anchor investors at the upper price band of Rs 407 per share, valued at approximately Rs 171 crore.