NEW DELHI: Smartworks Coworking Spaces Ltd’s shares saw a rise of over 9% on Thursday, closing above the issue price of Rs 407.
The stock debuted at Rs 436.10, reflecting a 7.14% increase from the issue price on the BSE. It even peaked at Rs 469 during the day, marking a high of 15.23%. Ultimately, shares closed at Rs 445.10, representing a 9.36% gain.
On the NSE, it opened at Rs 435, up by 6.87%, and finished at Rs 445.05, a rise of 9.34%.
The company’s market capitalization was reported at Rs 5,079.99 crore.
In terms of trading volume, 16.77 lakh shares exchanged on the BSE, while 175.40 lakh shares were traded on the NSE during the day.
Smartworks’ Rs 583-crore initial public offering was oversubscribed by 13.45 times by the closing day of bidding on Monday.
The company set the IPO price range between Rs 387 and Rs 407 per share.
Launched on Thursday of last week, Smartworks Coworking Spaces aimed to raise around Rs 600 crore to support business expansion and reduce debt.
Based in Gurugram, Smartworks is a prominent provider of managed flexible office spaces, operating 48 coworking centers with a capacity of over 1.9 lakh seats.
