Smartworks Coworking IPO GMP Today:
Smartworks Coworking Spaces IPO is seeing steady investor interest with a Grey Market Premium (GMP) of ₹20–22, indicating a potential 5% listing gain over the issue price of ₹407. While the retail and NII portions have
attracted strong demand, QIB interest remains moderate. The IPO closes today, July 14, 2025, with allotment expected on July 15 and listing on July 17. The GMP trend reflects cautious optimism among investors ahead of the listing.
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GMP Summary & Trends
Day 1 (July 10): GMP surged to ₹28–32 (7–8%) premium over the ₹407 top price band
Day 2 (July 11): GMP hovered around ₹25–29 (roughly 6–7%)
Day 3 (July 14, morning): GMP had moderated to ₹19–20 (~4.7–5%)
Day 3 (later): Further edged up to ₹20–22, signaling expected listing gains of ~5–5.4%
What’s Driving the GMP Change?
Strong interest from Non‑Institutional Investors and retail buyers—NIIs oversubscribed ~2.7–5×, retail ~1.5–2×
Muted QIB participation: QIBs hovered around 60–65% subscription
Grey market sentiment: The initial high GMP reflects optimism and expectation of listing day upside. Over time, as subscription data became public and institutional interest remained subdued, the premium eased from peak.
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What It Means for You
A GMP of ₹20–22 suggests a potential 5–5.4% gain at listing
However, grey market premiums are informal indicators—they can shift sharply and aren’t guaranteed
With QIB participation being lower than expected, there’s some caution lingering despite the GMP tanking at attractive levels.
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Final Take
The Smartworks IPO saw an initial high-premium build-up, which has since softened but remains indicative of a decent listing gain. If you’re applying today, be aware that grey market optimism is present, but institutional backing isn’t very strong—so the actual listing performance may diverge
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