Smartworks Coworking Spaces IPO

Incorporated in 2015, Smartworks Coworking Spaces Limited is engaged in the business of customized managed workspace solutions, offering fully serviced, tech-enabled office environments with aesthetic designs and essential amenities to meet the specific needs of enterprises and their employees.

The company serves mid-to-large enterprises, including Indian corporates, MNCs, and startups, offering modern campuses with design, technology, and amenities like cafeterias, gyms, crèches, and medical centers for employee well-being.

As of March 31, 2025, the company served 738 clients with 152,619 seats. Currently, it has 728 clients and 169,541 seats, with 12,044 seats yet to be occupied.

As of March 31, 2024, the company holds four of India's five largest leased centers, including the 0.7 million square feet Vaishnavi Tech Park in Bengaluru, surpassing other campuses in size.

 

Business Model: The company’s managed campus platform creates an ecosystem of key stakeholders: clients, landlords, employees, and service partners.

• Clients: The company specializes in serving large and emerging enterprises with customizable, tech-enabled workspaces across key Indian cities, offering modern, cost-efficient solutions and amenities to enhance employee well-being and productivity.
• Landlords: The company partners with non-institutional landlords to transform properties into fully serviced Smartworks campuses, offering rental assurance, efficient management, and long-term leases, benefiting both landlords and tenants.
• Clients’ Employees: The company offers fully serviced, tech-enabled centers with amenities like cafeterias, gyms, crèches, and medical centers, promoting collaboration, team building, and employee well-being in a vibrant work environment.
• Service partners: The company collaborates with service partners like Chaipoint and ClearTax to provide amenities such as cafeterias, gyms, and medical centers, offering employees value-added services and partners access to a large customer base.

As of March 31, 2025, the company had 794 permanent employees.

• Their market leadership backed by scale and steady growth
• Their ability to lease and transform entire/ large properties across India’s key clusters into amenities rich ‘Smartworks’ branded Campuses.
• Their focus is on acquiring Enterprise Clients with higher Seat requirements as well as emerging mid-to-large Enterprises and growing with them.
• Their execution capabilities are backed by cost efficiencies, effective processes, and technology infrastructure.
• Their financial acumen and strategic execution abilities make us capital efficient, resulting in saving our equity on capital expenditure and working capital.
• Their risk-mitigating strategy allows us to build a financially stable business model.

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: