Smartworks to retire high-cost debt, fund expansion with IPO proceeds

Bengaluru: SmartWorks Coworking Areas Ltd plans to retire the high -cost debt and expand the expansion, to finance the money from the first public stocks.

Gurogram -based flexible working area operator, La583 Crore IPO on July 10. The public offering will be a combination of a new stock problem. La445 Crore and an offer for sale (Of) La137.56 Crore. (As a part of the offspring, no new shares will be given, money will flow to investors who sell shares, not to the company.)

On July 14, Smartworks plans to use the revenues of the public offering for capital expenditures related to new centers, credit repayment and general institutional purposes and security deposits.

“After IPO, our clear debt around La299 CRORE will decrease La175 Crore. The aim is to repay the high -cost debt while paying low cost debt. Around La225 Crore will be used to finance the expansion. ”

Smartworks is one of the largest managed fields of work in India with 41 centers in 14 cities. After Awfis Space Solutions LTD, he was the second flexible office operator to a public list in India, which was released to the public in May last year.

The company plans to increase its portfolio from 10 million square meters. Up to 11.5 million. Smartworks is located in all major cities in India and in a series of small cities, while approximately 45% of its portfolio is in Mumbai, Pune and Ahmedabad in Western India.

Last year, he entered Smartworks de Coimbatore.

“Smartworks has expanded significantly in the last 2-3 years and will continue to grow, Hars Harsh Binani said. “While we continue to focus on our work area, we think that there is a good opportunity to enlarge certain auxiliary businesses as we look at more than 700 customers with a lakh (100,000) employees.”

India’s total flexible work area is 74 million square meters. In February, property consultancy JLL India, 100 million SQ.F. Until 2026, he underlines the important role of the sector in shaping the developing office view of the country.

Smartworks’ net loss expanded La63.17 Crore in 2024-25 La49.95 Crore in the previous year. Income from operations increased La1.374.05 Crore from FY25 LaAccording to the red herring to the company’s public offering, 1,039.36 Crore in the previous year.