Workmates Core2Cloud Solution Ltd. IPO Details – Price, Date, GMP & Analysis
Listed
SME
Price Range:
Rs.204.00
Issue Size:
Rs.69.84 Cr
Lot Size:
600 shares
Open Date:
November 11
Workmates Core2Cloud Solution Ltd. IPO Overview
Bidding Dates
November 11 - November 13
Min Investment
₹122,400
Price Range
₹204.00
Issue Size
₹69.84 Cr
IPO DRHP Doc
Company Overview
Workmates Core2Cloud Solution Limited, based in Kolkata, is an AWS Premier Consulting Partner known for scalable and innovative cloud solutions across India. Founded in 2018, the company has rapidly expanded, completing over 350 projects for more than 200 clients across various industries, including finance, healthcare, retail, e-commerce, and media. Workmates Core2Cloud specializes in a comprehensive range of cloud services. As of March 31, 2025, the company had a total strength of 129 in various departments.
IPO Timeline
Opens
Nov 11
Closes
Nov 13
Allotment
Nov 14
Refunds
Nov 17
Shares Credit
Nov 17
Listing
Nov 18
Opens
Nov 11
Closes
Nov 13
Allotment
Nov 14
Refunds
Nov 17
Shares Credit
Nov 17
Listing
Nov 18
Latest Subscription Data
| Category | Subscription | Status |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 147.03x | Oversubscribed |
| NII (Non-Institutional Investors/HNI) | 202.96x | Oversubscribed |
| RII (Retail Individual Investors) | 111.64x | Oversubscribed |
| Total Subscription | 141.38x | Oversubscribed |
Last updated: Nov 13, 2025, 06:21 PM
Current GMP:
Rs.88
Est. Listing:
Rs.292
Est. Gain:
+43.1%
Star Rating:
★★★★★(0/5)
Financial Information
Financial Data Table
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Assets | ₹62.16 Cr | ₹62.16 Cr | ₹24.57 Cr | ₹11.14 Cr |
| EBITDA | ₹19.05 Cr | ₹19.05 Cr | ₹7.7 Cr | ₹2.7 Cr |
| NET Worth | ₹22.89 Cr | ₹22.89 Cr | ₹8.96 Cr | ₹3.61 Cr |
| Profit After Tax | ₹13.93 Cr | ₹13.93 Cr | ₹5.35 Cr | ₹1.86 Cr |
| Reserves and Surplus | ₹22.88 Cr | ₹22.88 Cr | ₹8.95 Cr | ₹3.6 Cr |
| Total Borrowing | ₹8.79 Cr | ₹8.79 Cr | - | - |
| Total Income | ₹108.39 Cr | ₹108.39 Cr | ₹53.53 Cr | ₹29.14 Cr |
Financial data is visualized in the chart above
Strengths & Risks Analysis
Key Risks
Potential challenges and risk factors
- High reliance on contract-based workforce exposes company to attrition risks.
- Delayed payments from clients could strain working capital.
- Regulatory changes in labour laws may impact margins and compliance.
- Dependence on a few large clients for significant portion of revenue.
- Competitive industry with pricing pressure from large and regional players.
IPO Details
Workmates Core2Cloud IPO Details
| Face Value | ₹10 per share |
| Fresh Issue (Ex Market Maker) | 27,37,200 shares (aggregating up to ₹55.84 Cr) |
| IPO Date | November 11, 2025 to November 13, 2025 |
| Issue Price Band | ₹200 to ₹204 per share |
| Issue Price Final | ₹204 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Listing Date | November 18, 2025 |
| Lot Size | 600 Shares |
| Net Offered to Public | 32,52,000 shares (aggregating up to ₹66.34 Cr) |
| Offer for Sale | 5,14,800 shares of ₹10 (aggregating up to ₹10.50 Cr) |
| Reserved for Market Maker | 1,71,600 shares (aggregating up to ₹3.50 Cr)Giriraj Stock Broking Pvt.Ltd. |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Share Holding Post Issue | 1,29,18,800 shares |
| Share Holding Pre Issue | 1,00,10,000 shares |
| Total Issue Size | 34,23,600 shares (aggregating up to ₹69.84 Cr) |
Workmates Core2Cloud IPO Reservation
Share Reservation Distribution
QIB
1,622,400 shares (47.39%)
Retail
1,140,000 shares (33.3%)
Anchor Investors
960,000 shares (28.04%)
QIB (Ex-Anchor)
662,400 shares (19.35%)
HNI (NII)
489,600 shares (14.3%)
bNII (>₹10L)
326,400 shares (9.53%)
Market Maker
171,600 shares (5.01%)
sNII (<₹10L)
163,200 shares (4.77%)
Workmates Core2Cloud IPO Promoter Holding
| Promoter Holding Post Issue | 72.02% |
| Promoter Holding Pre Issue | 98.10% |
Workmates Core2Cloud IPO Listing Details
| BSE Listing Group | MT (Trade to Trade) |
| BSE Script Code | 544610 |
| Final Issue Price | ₹204 per share |
| ISIN | INE1I1301016 |
| Listing Date | November 18, 2025 |
| NSE Symbol |
Key Dates
Open Date:November 11
Close Date:November 13
Listing Date:November 18
