Workmates Core2Cloud Solution came to market through an SME IPO that opened on 11 November 2025 and closed on 13 November 2025, and the shares listed on 18 November 2025 on BSE SME. The price band was ₹200 to ₹204 per share and one lot was 600 shares, so the minimum application was ₹1,22,400. The issue size was ₹69.84 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MUFG Intime India Pvt.Ltd was the registrar to the issue, and Horizon Financial Pvt.Ltd was the lead manager.
As of 13 November 2025.
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Workmates Core2Cloud Solution Limited, a Kolkata-based AWS Premier Consulting Partner, has earned its name for scalable and innovative cloud solutions across India. It has grown rapidly since its inception in 2018 and has successfully completed over 350 projects for more than 200 clients across industries like finance, healthcare, retail, e-commerce, and media. Workmates Core2Cloud specialises in a comprehensive range of cloud services: Cloud Migration & Managed Services: Seamless transition and management of applications on AWS, ensuring optimized performance and cost-efficiency.
DevOps & Automation: Implementation of CI/CD pipelines and infrastructure automation using tools like AWS CloudFormation. Cybersecurity & Analytics: Robust security solutions for cloud and hybrid environments, coupled with data analytics services. SAP Infrastructure Support: Expertise in migrating and managing SAP workloads on AWS. Emerging Technologies: Services include IoT, Blockchain, AI/ML, VR, and AR. As of March 31, 2025, the company had a total strength of 129 in various departments.
As described in the offer document.
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Debasish Sarkar, Prajnashree Mohapatra, Shilpa Mohta, Anindya Sen, Anjali Awasthi, Anirban Dasgupta, Kamal Nath. Promoter holding 98.10% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Workmates Core2Cloud Solution IPO was a ₹69.84 crore book-built issue, comprising a fresh issue of ₹59.34 crore and an offer for sale of ₹10.5 crore. It was priced at ₹200–₹204 per share with a lot size of 600 shares; the minimum retail application was 1,200 shares (₹2,44,800). The IPO was open from November 11 to November 13, 2025 and was subscribed 141.45x.
Shares listed on BSE SME on November 18, 2025 at ₹387.60, a 90.0% premium to the issue price of ₹204. MUFG Intime India Pvt. Ltd. is the registrar. Horizon Financial Pvt. Ltd. is the book running lead manager.
The price band of Workmates Core2Cloud Solution IPO is ₹200 to ₹204 per share.
The lot size of Workmates Core2Cloud Solution IPO is 600 shares.
The minimum investment for Workmates Core2Cloud Solution IPO is approximately ₹2,44,800 based on the upper price band.
The allotment date of Workmates Core2Cloud Solution IPO is Nov 14, 2025.
Workmates Core2Cloud Solution IPO's final recorded GMP before listing was ₹84 per share (a 41% premium over the ₹204 upper price band). The shares listed at ₹387.6. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Workmates Core2Cloud Solution IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Workmates Core2Cloud Solution IPO allotment status on Rupix for quick and easy access.
₹200 to ₹204 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,22,400. After listing, SME shares also trade in lots rather than one share at a time.
₹1,22,400, for one lot of 600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 11 November 2025 and closed on 13 November 2025.
The basis of allotment was published on 14 November 2025 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 18 November 2025 on BSE SME.
The issue size was ₹69.84 crore. The fresh issue was 29,08,800 shares (aggregating up to ₹59.34 crore). The offer for sale was 5,14,800 shares (aggregating up to ₹10.5 crore).