Tag: Smartworks Coworking Spaces

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Smartworks secures ₹173.64 crore from anchor investors pre-IPO

NEW DELHI: Smartworks Coworking Spaces has secured ₹173.64 crore from anchor investors prior to its initial public offering (IPO). In a regulatory update released on Wednesday, Smartworks confirmed the allocation of 42,66,378 equity shares to anchor investors at ₹407 per share. Among the allocated shares, 32.04% were designated for three domestic mutual funds, which utilized a total of four schemes. These mutual funds are Tata Mutual Fund, Baroda BNP Paribas, and Trust Mutual Fund. Other investors include Axis New Opportunities AIF – Series II, SBI General Insurance Co. Ltd, Aditya Birla Sun Life Insurance Co. Ltd, and Societe Generale, among…

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Smartworks Coworking IPO Launches July 10

NEW DELHI: Smartworks Coworking Spaces is gearing up to launch its public share sale on July 10. The initial public offering (IPO) will run until July 14, with anchor investor bidding set for a single day on July 9, as detailed in the red herring prospectus (RHP). The IPO size has been revised downwards; the fresh issue is now Rs 445 crore, decreased from the previously planned Rs 550 crore, and the offer for sale (OFS) has been adjusted to 33.79 lakh shares from 67.59 lakh shares. Approximately Rs 226 crore of the total proceeds will be allocated for capital…