Smartworks IPO To Open On July 10, Issue Size Reduced

Nearly eight months after getting markets regulator SEBI’s nod for its IPO, Smartworks Coworking Spaces has filed its RHP.

The managed and flexible workspaces provider has cut the size of its public issue, which will open on July 10 (Thursday) and close on July 14 (Monday). Anchor investor bidding will take place on July 9 (Wednesday).

As per the RHP, the size of the fresh issue has been reduced to INR 445 Cr from INR 550 Cr in the DRHP. The OFS component has almost been halved to up to 33.79 Lakh shares from 67.49 Lakh shares earlier.

Promoters NS Niketan LLP and SNS Infrarealty LLP will sell their shares via the OFS. Existing investor Space Solution Infra Pte Ltd will also pare its stake.

In its DRHP, the company had said that it planned to raise INR 110 Cr via a pre-IPO placement. However, Smartworks said in the RHP that no pre-IPO placement was undertaken.

(The story will be updated soon)

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