Smartworks Coworking Spaces Ltd

Smartworks IPO Funds Update: ₹225.84 Crore Capex Allocation 🏢📊

- Smartworks Coworking Spaces Limited submitted its Monitoring Agency Report for Q4 FY26 (ended March 31, 2026) to NSE and BSE, prepared by CARE Ratings Limited.

- The report covers utilization of IPO proceeds totaling Rs. 445 crore raised in July 2025.

- No deviations from the IPO objectives were found; all proceeds were used as per the offer document.

- Key utilization breakdown: Rs. 114 crore for debt repayment (fully utilized), Rs. 225.84 crore for capital expenditure (Rs. 92.36 crore utilized, Rs. 133.48 crore unutilized), Rs. 56.63 crore for general corporate purposes (Rs. 56.36 crore utilized, Rs. 0.27 crore unutilized), and Rs. 48.53 crore for offer expenses (Rs. 42.06 crore utilized, Rs. 6.47 crore unutilized).

- Unutilized funds of Rs. 140.22 crore were temporarily invested in fixed deposits with banks like HDFC, AU Small Finance Bank, Jana Small Finance Bank, and IDFC First Bank, with returns ranging from 3.5% to 7.5%.

- The company reported net losses for the past five years but generated cash profits during those periods.

- No material delays in project implementation were noted, except for general corporate purposes, which may extend into FY2026-27.

- The report includes disclaimers from CARE Ratings, noting reliance on company-provided data and no independent audit verification.