India's Leap Towards Sustainable & Innovative Workspace Design
- Industry News
- March 13, 2024

Smartworks Coworking Spaces is set to launch its ₹582.56 crore IPO on July 10, 2025. Backed by strong financials and market interest, the offer includes both fresh equity and OFS. With grey market premiums already at ₹29, the IPO signals rising investor confidence in India’s growing flexible workspace industry.
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Ahead of its ₹582 crore IPO, Smartworks Coworking Spaces reported a 21% rise in net loss to ₹63.17 crore for FY25. However, revenue surged to ₹1,374 crore, reflecting robust demand. The IPO opens July 10, with proceeds earmarked for expansion, debt repayment, and new fit-outs across India.
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Table Space and Smartworks are set to lease over 2 million sq ft in Delhi NCR and Mumbai, signalling strong confidence in India’s office space market. Amid global uncertainties, the flexible workspace sector is booming, driven by rising enterprise demand, IPO approvals, and major deals with tech giants like Google.
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Smartworks has leased 2.2 lakh sq ft at DLF Cyber City, Hyderabad, expanding its total footprint to over 10 lakh sq ft. It marks its fourth centre in Hyderabad, reinforcing its position in the flexible workspace sector.
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Smartworks has leased 4.8 lakh sq ft in DLF City Phase 5, Gurugram, for ₹94.68 crore annually, marking a significant expansion. The six-year deal includes six floors, parking for 794 cars, and rental escalation. This move reinforces Smartworks’ leadership in coworking, aligning with the rising demand for flexible, enterprise-grade office solutions.
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Smartworks secures SEBI approval for its IPO, marking a key milestone in its expansion strategy. With 41 centres across 13 Indian cities and a recent entry into Singapore, the company reported ₹10.39 billion in revenue in FY24. Backed by Keppel Ltd., Smartworks plans to invest ₹2.38 billion in future growth.
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