Subscribe for Smartworks Coworking Spaces Ltd IPO; Anand Rathi

Anand Rathi, has come out with its report on Smartworks Coworking Spaces Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on July 08, 2025.

Broker Research

July 09, 2025 / 12:19 IST

IPO

Anand Rathi, Smartworks Coworking Spaces Ltd

Smartworks Coworking Spaces Limited is an office experience and managed Campus platform. As of March 31, 2024, they were the largest managed campus operator, amongst the benchmarked operators in terms of total stock, with a lease signed portfolio of 8.0 million square feet. They have leased, and they manage a total SBA of 8.99 million square feet as of March 31, 2025. They strive to make Enterprises and their employees in India more productive at work by providing value-centric pricing and a superior office experience visà-vis traditional workspaces, with access to enhanced services and amenities.

Valuation and Outlook

At the upper price band company is valuing at P/S of 3.3x with EV/EBITDA of 9.7x and market cap of ₹ 46,448 million post issue of equity shares. We believe that the IPO is fully priced and recommend a “SubscribeLong term” rating to the IPO.

For all IPO report, click here