Smartworks Coworking Spaces Limited, a leading provider of managed office spaces in India, has launched its initial public offering (IPO) of 14,321,474 equity shares aggregating to approximately ₹582.555 crore.
The IPO comprises:
A fresh issue of 10,941,734 equity shares aggregating to ₹445 crore
An offer for sale (OFS) of 3,379,740 equity shares aggregating to ₹137.555 crore
by NS Niketan LLP, SNS Infrarealty LLP, and Space Solutions India Pte. Ltd.
Parties Involved
Issuer
Smartworks Coworking Spaces Limited
Selling Shareholders
NS Niketan LLP
SNS Infrarealty LLP
Space Solutions India Pte. Ltd.
Book Running Lead Managers (BRLMs)
JM Financial Limited
Kotak Mahindra Capital Company Limited
IIFL Securities Limited
BOB Capital Markets Limited
Legal Advisory
Khaitan & Co
Legal Counsel to the Company
Khaitan & Co advised Smartworks on all Indian legal aspects of the IPO, including regulatory compliance, documentation, and due diligence.
Deal Team:
Sudhir Bassi, Executive Director (Lead)
Oishik Bagchi, Partner
Ayushi Saumya, Senior Associate
Johann Valladares, Senior Associate
Varshini Puni, Senior Associate
Arjun Kapur, Associate
Harshit Singh, Associate
Mythri Murali, Associate
The firm had also advised Smartworks in its previous IPO-related transactions.
Economic Laws Practice (ELP)
Legal Counsel to the BRLMs
ELP represented the book running lead managers on all aspects of the IPO including due diligence, offer documents, and regulatory filings.
Deal Team:
Geeta Dhania, Partner (Lead)
Tripti Pandey, Principal Associate
Ridhi Jain, Senior Associate
Shreeya Srungarapu, Associate
Vedaarth Uberoi, Associate
Anusha Agrawal, Associate
Shreya Prakash, Associate
About the Company
Smartworks Coworking Spaces Limited is India’s leading provider of customized, tech-enabled, managed office solutions. Known for its fully serviced workspaces and focus on enterprise clients, Smartworks operates India’s largest managed office campus portfolio, offering flexible solutions that improve productivity and collaboration.
Its business model blends real estate, hospitality, and technology, enabling large corporations and startups to scale efficiently without the burden of long-term leases or capital expenditures.
Strategic Significance
Scalability: The capital raised via IPO will support Smartworks’ expansion across major Indian metros.
Enterprise focus: Funds will enable the development of new campuses tailored for large corporate clients.
Market validation: The oversubscription signals investor confidence in India’s managed workspace segment.
Why It Matters
Sectoral growth: Reflects rising demand for hybrid and managed office space in post-COVID India.
IPO momentum: Continues the trend of private equity-backed coworking and real estate companies tapping public markets.
Also read: Knowledge Realty Trust IPO: ₹4,800 Crore Listing Advised by CAM, S&R, Khaitan & Co, and White & Case
Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
