Disclosure under Regulation 32 (6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015- Monitoring Agency Report
SMARTWORKS · price
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Smartworks Coworking Spaces has filed the Monitoring Agency Report from CARE Ratings covering the quarter ended March 31, 2026, for its Rs. 445 crore IPO (conducted July 10-14, 2025). No deviation from the stated objects was reported. As of March 31, 2026, the company has utilized Rs. 304.78 crore of the IPO proceeds, with Rs. 140.22 crore still unutilized. Debt repayment (Rs. 114 crore) was fully completed in Q2FY26. Capital expenditure for fit-outs and security deposits has reached Rs. 92.36 crore out of Rs. 225.84 crore planned, with Rs. 27.86 crore deployed in Q4FY26. General corporate purposes (GCP) is nearly fully used (Rs. 56.36 crore of Rs. 56.63 crore), while Rs. 6.47 crore of issue expenses remain unutilized.
No material deviation is a positive signal for IPO investors, though a delay in completing GCP utilization within the targeted Fiscal 2026 timeline is noted. The disclosure also flags that the company has reported net losses for the past five financial years (though it has had cash profits), which investors should weigh alongside the steady deployment of IPO funds into capex and debt reduction.