Smartworks Coworking Spaces is preparing for its highly anticipated Initial Public Offering (IPO), with plans to raise to ₹5.5 billion. The IPO consists of equity shares with a face value of ₹10 each, including an offer for sale (OFS) of 6,759,480 equity shares. The sale aims to attract significant investment into India’s growing coworking industry.

The offer for sale includes contributions from key stakeholders, including 980,000 equity shares from NS Niketan LLP, 620,000 shares from SNS Infrarealty LLP, and 5,159,480 shares from Space Solutions India Pte. Ltd. This diverse group highlights the broad support Smartworks has garnered as it moves towards expansion and increased visibility in the coworking space sector.

Top legal counsel from Khaitan & Co and Economic Laws Practice (ELP) oversee the IPO’s legal aspects. Khaitan & Co advises Smartworks on Indian law with a team led by partner Oishik Bagchi and supported by senior associate Johann Valladares, associate Arjun Kapur, and others. Sudhir Bassi, Executive Director, provided strategic guidance to the legal team.

Sharad Abhyankar, a partner at Khaitan & Co, and his team are specifically addressing issues related to LLP laws. Meanwhile, ELP provides legal counsel to the bankers involved in the transaction, including JM Financial Limited, Kotak Mahindra Capital Company Limited, IIFL Securities Limited, and BOB Capital Markets Limited. The ELP team, led by partner Geeta Dhania, worked alongside associates Tripti Pandey, Ridhi Jain, and others to facilitate the IPO.

This IPO marks a major milestone for Smartworks, positioning the company for further growth within the competitive coworking industry. The legal expertise and strong financial backing demonstrate confidence in the company’s ability to capitalise on the evolving demand for flexible office spaces across India.

The success of this IPO will strengthen Smartworks’ market position and spotlight the continued rise of coworking solutions in India’s real estate sector.