Smartworks opens strong on stock exchange; market cap crosses $600 Mn

Managed office space provider Smartworks made its stock market debut on Thursday, listing at Rs 435 per share on the National Stock Exchange, a 7% premium over its issue price of Rs 407.

The IPO, which was oversubscribed 13.92 times, comprised a fresh issue of Rs 445 crore and an offer for sale (OFS) of 34 lakh shares worth Rs 137.5 crore.

The price band was fixed at Rs 387–407 per share. 

The public issue received bids for 14 crore equity shares against 1 crore shares on offer….