Tag: co-working spaces

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Bombay HC Dismisses WeWork India IPO Challenge, Imposes ₹1 Lakh Fee

MUMBAI: The Bombay High Court has dismissed two writ petitions filed by Vinay Bansal and Hemant Kulshrestha that aimed to prevent WeWork India’s initial public offering (IPO), effectively ending their last-minute legal challenge. A Division Bench consisting of Justice RI Chagla and Justice Farhan Parvez Dubash rejected the petitions and imposed a cost of Rs 1 lakh on Vinay Bansal, instructing him to deposit the amount with the Maharashtra State Legal Services Authority within two weeks. The court reserved its decision on October 8 after the arguments were concluded and delivered the ruling orally today. A detailed written judgment is…

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WeWork India Q2 FY26 Profit Drops to ₹6.4 Crore

NEW DELHI: WeWork India Management Ltd has reported a significant decrease in consolidated net profit to Rs 6.4 crore for the quarter ending in September, mainly due to a high base effect. In the same quarter last year, net profit was Rs 203.74 crore, boosted by a deferred tax credit. Total income climbed to Rs 585.54 crore for the July-September period this fiscal, up from Rs 499.47 crore during the same timeframe last year, as per a regulatory filing. Since its inception in 2017, WeWork India has provided flexible workspace solutions to corporations and operates in eight major cities with…

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IndiQube Spaces Reports ₹30 Crore Loss in Q2 FY26

NEW DELHI: IndiQube Spaces Ltd has reported a net loss of Rs 29.86 crore for the second quarter of this fiscal year, compared to a net loss of Rs 52.52 crore during the same period last year. However, the company’s total income increased to Rs 366.59 crore for the July-September quarter, up from Rs 264.01 crore in the corresponding period the previous year, as per a regulatory filing. IndiQube Spaces Ltd leases office spaces from property owners to set up its centers and then sub-leases workspaces primarily to both domestic and international companies. The firm operates in 16 cities, managing…

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Smartworks Reports ₹4.19 Crore Loss in Q1 FY26

NEW DELHI: Smartworks Coworking Spaces Ltd reported a consolidated net loss of Rs 4.19 crore in the first quarter of FY26. The net loss was Rs 23 crore in the same period last year. However, total income increased to Rs 387.98 crore during the April-June quarter of 2025-26, up from Rs 323.15 crore in the same period the previous year, as per a regulatory disclosure. In the 2024-25 fiscal year, Smartworks recorded a net loss of Rs 63.17 crore with a total income of Rs 1,409.66 crore. Recently listed on stock exchanges, Smartworks Coworking Spaces is a prominent operator of…

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Kerala Launches Neurodiversity-Friendly Workspace in Kochi Metro

KOCHI: Kerala is inaugurating its first coworking space that embraces neurodiversity, aimed at fostering an inclusive workspace for individuals with varied needs. The facility, named ‘i by Infopark’, spans 48,000 square feet and is situated at the Ernakulam South Metro Station. Facilities can accommodate over 550 professionals, featuring flexible work settings with modern amenities, as highlighted by Chief Minister Pinarayi Vijayan on Monday. He mentioned that this initiative could set a standard for future projects and will be expanded across the state to promote innovation and job creation. The Chief Minister elaborated in a Facebook post, “Covering an area of…

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Smartworks IPO Subscribed 13.45 Times

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) of ₹583 crore was oversubscribed by 13.45 times by the close of bidding on Monday. During the three-day IPO, bids reached 13,99,08,852 shares, significantly exceeding the 1,04,01,828 shares available, according to NSE data. The Qualified Institutional Buyers (QIB) segment received 24.41 times the subscription, while Non-Institutional Investors subscribed 22.78 times. Retail Individual Investors (RIIs) saw a subscription of 3.53 times. Additionally, Smartworks Coworking Spaces has secured ₹173.64 crore from anchor investors. The IPO was launched last Thursday, aiming to raise nearly ₹600 crore to facilitate business expansion and debt reduction.…