31 Mar 2023
Assets11.14
Total Income29.14
EBITDA2.70
Profit After Tax1.86
NET Worth3.61
Reserves and Surplus3.60
At a glance
Updated 2026-08-24The shares listed at ₹387.60, a 90.00% move from the issue price. Workmates Core2Cloud is a SME IPO with an issue size of ₹69.84 crore, proposed for listing on BSE SME. The offer opens on 11th Nov 2025 and closes on 13th Nov 2025. The issue structure includes a fresh issue of ₹55.84 crore and an offer-for-sale component of ₹10.50 crore. The current listing schedule points to 18th Nov 2025.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹69.84 Cr
Fresh issue₹55.84 Cr
Offer for sale₹10.50 Cr
Face value₹10
Price band₹200.00–₹204.00
Allotment14th Nov 2025
Listing18th Nov 2025
Listing performance
Full performance ↗Issue price₹204.00
Listing price₹387.60
Current price—
Listing gain90.00%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹88.00
GMP / upper price43.14%
Est. listing₹292.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens11th Nov 2025
Closes13th Nov 2025
Allotment14th Nov 2025
Refund17th Nov 2025
Demat17th Nov 2025
Listing18th Nov 2025
Subscription demand
Full bidding ↗Total141.38×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 1200 | ₹244,800 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions | ₹8.60 Cr |
| Funding of Working Capital Requirement of the company | ₹29.20 Cr |
| General Corporate Purposes | ₹10.00 Cr |
| Issue Expenses | ₹11.54 Cr |
| Total | ₹59.34 Cr |
Financials
Full financials ↗31 Mar 2024
Assets24.57
Total Income53.53
EBITDA7.70
Profit After Tax5.35
NET Worth8.96
Reserves and Surplus8.95
31 Mar 2025
Assets62.16
Total Income108.39
EBITDA19.05
Profit After Tax13.93
NET Worth22.89
Reserves and Surplus22.88
Total Borrowing8.79
31 Aug 2025
Assets69.44
Total Income59.55
EBITDA10.62
Profit After Tax7.22
NET Worth30.10
Reserves and Surplus20.09
Total Borrowing8.68
Trend chart₹ crore
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 67.44% |
| ROCE | 64.61% |
| Debt / Equity | 0.38% |
| RoNW | 60.85% |
| PAT Margin | 12.85% |
| EBITDA Margin | 17.58% |
| Price to Book Value | 8.92 |
Valuation & shareholding
Pre-IPO EPS13.91
Post-IPO EPS13.41
Pre-IPO P/E14.66
Post-IPO P/E15.21
Promoter holding pre98.1%
Promoter holding post72.02%
Market cap₹263.54 Cr.
Issue expenses
| Expense | Amount |
|---|---|
| Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions | ₹8.60 Cr |
| Funding of Working Capital Requirement of the company | ₹29.20 Cr |
| General Corporate Purposes | ₹10.00 Cr |
| Issue Expenses | ₹11.54 Cr |
| Total | ₹59.34 Cr |
Registrar & lead managers
Registrar
MUFG Intime India Pvt.Ltd.Lead managers
- Horizon Management Pvt.Ltd.
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-08-24.