Smartworks Coworking Spaces IPO

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Company Details

We are an office experience and managed Campus platform. We are the largest managed campus operator, amongst the benchmarked peers, in terms of total stock as of March 31, 2024 (Source: CBRE Report). We have leased, and we manage a total SBA of 8.00 million square feet as of March 31, 2024. We strive to make Enterprises and their employees in India more productive at work by providing value-centric pricing and superior office experience vis-à-vis traditional workspaces, with access to enhanced services and amenities. Landlords, especially passive and non-institutional, benefit from the transformation of their bare shell properties into ‘Smartworks’ branded, fully serviced managed Campuses.

We focus on mid-to-large Enterprises and have built a growing Client base, which includes Indian corporates, MNCs operating in India and startups. We equip our Campuses with modern and aesthetically pleasing designs using our extensive design library, integrated proprietary technology solutions and amenities such as cafeterias, sport zones, Smart Convenience Stores, gymnasiums, crèches and medical centres. Some of these amenities take care of the daily needs of the employees of our Clients, and some are aspirational in nature, leading to collaborative workspace and team building. These aspects are likely to enhance well-being, fostering a vibrant and engaging work atmosphere.

As of March 31, 2024, our Operational Centres across India served 603 Clients occupying 130,047 Seats. Further, as on date of this Draft Red Herring Prospectus, we have 618 Clients with 149,660 Seats, out of which 8,691 Seats are yet to be occupied at our Operational Centres by the respective Clients.

We have also recently taken on lease two Centres in Singapore with a total SBA of 35,036 square feet and serve 50 Clients as on date of this Draft Red Herring Prospectus. For details, see “History and Certain Corporate Matters – Other agreements - Acquisition of assets of Keppel Real Estate Services Pte. Ltd. on page 276. Singapore has emerged as one of the preferred locations for corporate headquarters with the highest number of completed regional headquarters in the past 10 years in Asia Pacific (2014 – 2023) (Source: CBRE Report). Our presence in Singapore provides us the opportunity to explore further business opportunities in both India and Singapore.

As of March 31, 2024, amongst the benchmarked operators, Smartworks has four out of five largest lease signed centres in India all of which are above 0.5 million square feet in size, with the largest centre of approximately 0.7 million square feet located in Vaishnavi Tech Park in Sarjapur, ORR in Bengaluru. (Source: CBRE Report). We have constantly outranked ourselves in leasing large Campuses in India. Vaishnavi Tech Park in Bengaluru surpassed our other Campuses, namely, M-Agile in Pune, with a total SBA of 0.69 million square feet and AP-81 in Pune, with a total SBA of 0.55 million square feet. As of March 31, 2024, our average Centre size is SBA of 0.20 million square feet.

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Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
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From the list of Active IPOs, select the IPO of your choice
On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
Recheck the details on the order confirmation screen and confirm the order.
Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.

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In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).

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Smartworks Coworking Spaces IPO

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Company Details

How to apply for an IPO on the Mirae Asset Sharekhan app

How to apply for an IPO on the Mirae Asset Sharekhan website

How does an IPO work?

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