Smartworks to acquire Singapore-based Workstudio Spaces to expand coworking footprint

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SMARTWORKS · price

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-1.2%1-day move

₹490.90

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₹489.00

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AI summary

Smartworks Coworking Spaces announced the proposed acquisition of Singapore-based flexible workspace provider Workstudio Spaces Pte. Ltd. through its wholly owned subsidiary. Workstudio has about 26,000 sq. ft. operational footprint. Post-acquisition, Smartworks' Singapore portfolio will expand to 4 centres totalling about 76,000 sq. ft. with 1,500 plus seats. Deal expected to close in July 2026, funded by subsidiary's existing funds. Smartworks currently has about 16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore.

Likely market impact

Doubling Singapore presence to about 76,000 sq. ft., strengthens enterprise market position. Funded internally, no equity dilution for shareholders.