Smartworks Coworking Spaces shares made their stock market debut on Thursday. And the start was slightly better than expected. The shares got listed at ₹435 on the NSE, about 7% higher than its IPO price of ₹407.
On the BSE, the listing price was even better—₹436.10 per share. That’s a 7.15% premium. This came after the IPO was subscribed 13.45 times between July 10 and 14. The IPO price band was ₹387 to ₹407.
The total IPO size was ₹583 crore. Out of this, ₹173.64 crore was raised from anchor investors even before the IPO opened for the public. After listing, the market value of Smartworks Coworking Spaces now stands at ₹4,977 crore.
What does Smartworks do?
Smartworks is a Gurugram-based company. It runs managed coworking spaces across India. As of March 2024, it is the largest player in this sector with 8.99 million sq ft under management. The company operates 48 centres across cities with seating for over 1.9 lakh people.
The funds from the IPO will be used to grow the business and reduce debt.
Listing vs Expectations
The listing was better than expected. The grey market was predicting a gain of around 6%. But the actual listing gave a 7% jump. That’s not huge, but still a positive sign in a market that has been cautious lately.
Should You Buy, Sell or Hold?
Market experts have mixed views. Some say the stock is fairly priced after the listing. Narendra Solanki from Anand Rathi says the company’s growth is strong. It grew at 38% CAGR from 2020 to 2024, which is much higher than the industry average of 23–24%.
He adds that the stock is priced at a P/S ratio of 3.3x and EV/EBITDA of 9.7x. This means it’s not too expensive if the company keeps growing. For now, many experts suggest holding the stock for the long term. It all depends on your risk level.
If you’re a conservative investor, maybe wait and watch. If you believe in India’s startup and flexible workspace story, you might want to hold it or even buy more if it dips a little.
Smartworks Coworking Spaces had a solid start. It’s not a rocket, but it’s steady. The company has a strong position and plans to grow fast. If you’re in it for the long game, holding could be smart.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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