Commercial RE/Flex - Listed on 17 July 2025
Smartworks Coworking (Commercial RE/Flex) closed its IPO window in 2025 and listed on NSE and BSE on 17 July 2025 at an upper band issue price of Rs 407, opening at Rs 435 for a listing gain of +6.9% and closing day one at Rs 445.05 (+9.3% on closing basis). The IPO was subscribed 13.45x overall - QIB 24.41x, HNI/NII 22.78x, Retail 3.53x. The total issue size was Rs 582.56 Cr (Fresh Issue Rs 445 Cr, OFS Rs 137.56 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Commercial RE/Flex
Smartworks Coworking operates in the Commercial RE/Flex space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Smartworks Coworking issue was offered at an upper price of Rs 407 and raised approximately Rs 582.56 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 27 | +6.63% |
| Day 2 | Rs 27 | +6.63% |
| Day 3 | Rs 30 | +7.37% |
| Day 4 | Rs 33 | +8.11% |
| Day 5 | Rs 25 | +6.14% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Smartworks Coworking IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Smartworks Coworking IPO listed at +6.9% versus the upper issue price of Rs 407 on 17 July 2025.
Smartworks Coworking IPO was subscribed 13.45x overall. QIB portion was subscribed 24.41x, HNI / NII 22.78x and Retail 3.53x.
IPO GMP started at Rs 27 on Day 1 and moved to Rs 25 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.