Smartworks Set to Launch IPO Amid Financial Adjustments
Smartworks Coworking Spaces, gearing up for an IPO on July 10, reported a total debt of Rs 382 crore. The IPO issue size has been revised downward. The proceeds will fund capital expenditure, loan payments, and corporate purposes. The company reported a net loss due to higher expenses.
- Country:
- India
Smartworks Coworking Spaces is poised to hit the stock market with its Initial Public Offering (IPO) scheduled for a July 10 launch and closing on July 14. Despite lowering its IPO size, the company aims to channel the funds towards capital expenditures, loan repayments, and other corporate needs.
The Gurugram-based company, which operates 48 centers with a seating capacity exceeding 190,000, revealed a total debt standing at Rs 382 crore as of April. The fresh issue has been reduced to Rs 445 crore from an earlier estimate of Rs 550 crore, while shares offered by promoters were halved.
Smartworks aims to achieve profitability by sustaining increased revenue levels while reducing proportionate expenses. Despite posting a net loss in the previous financial year, its revenue surged to Rs 1,374.05 crore in fiscal year 2024-25, demonstrating resilient growth amid financial shifts.
(With inputs from agencies.)
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