Workmates Core2Cloud SME IPO (11–13 Nov 2025): Price Band, GMP, Allotment & Listing Guide
The ₹69.84 crore Workmates Core2Cloud SME IPO opens for bidding on 11 November 2025 and closes on 13 November 2025. [web:6]
Quick Facts
- Issue size: ₹69.84 crore via book-built offer. [web:6]
- Price band: ₹200 – ₹204 per share. [web:6]
- Market lot: 600 shares (retail minimum ₹1.22 lakh). [web:6]
- Allotment date: 14 Nov 2025; listing date: 18 Nov 2025 on BSE-SME. [web:11]
Company Overview
Kolkata-based Workmates Core2Cloud delivers cloud migration, DevOps, cybersecurity and analytics services and reached AWS Premier Tier status within six years. [web:5]
The firm has completed 350+ projects for over 200 clients across finance, healthcare, retail and media sectors. [web:5]
Grey Market Premium (GMP)
GMP quotes have ranged between ₹28 and ₹51 ahead of the issue, implying a potential 14–25 % listing gain but with high volatility. [web:12][web:30]
Trackers on 11 Nov 2025 reported a ₹36 premium, suggesting an estimated listing price near ₹240. [web:5]
Financial Snapshot
Revenue jumped 102 % from ₹53.53 crore in FY 2024 to ₹108.39 crore in FY 2025, while PAT surged 160 % to ₹13.93 crore. [web:10]
Key valuation ratios include a P/E of 15.65 and RoNW of 26.19 %, indicating moderate pricing for an SME tech issuer. [web:10]
Risks to Note
- SME shares often face limited liquidity, causing sharp price swings post-listing. [web:17]
- Intense competition in cloud services could compress margins and slow growth. [web:5]
How to Apply
Investors can submit ASBA or UPI bids via their broker or net-banking platforms until 5 p.m. on 13 Nov 2025. [web:5]
Ensure funds remain blocked until share allotment on 14 Nov 2025 to avoid application rejection. [web:14]
FAQs
What is the minimum investment for retail?
One lot of 600 shares at the upper band costs ₹1,22,400. [web:6]
What is the latest GMP?
As of 12 Nov 2025 evening, the unofficial GMP stands near ₹51 per share. [web:30]
Disclaimer
This content is compiled from publicly available IPO trackers and may change without notice; consult a registered financial adviser before investing. [web:6]
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