| Initial public offering of 14,321,474 equity shares of face value of Rs. 10 each ("Equity Shares") of Smartworks Coworking Spaces Limited ("Company") for cash at a price of Rs. 407 per equity share (including a premium of Rs. 397 per equity share) ("Offer Price") aggregating to Rs. 582.56 crores^ (the "Offer") comprising a fresh issue of 10,941,734 equity shares of face value of Rs. 10 each aggregating to Rs. 445.00 crores (the "Fresh Issue") and an offer for sale of 3,379,740 equity shares of face value of Rs. 10 each aggregating to Rs. 137.56 crores (the "Offer for Sale"), consisting of an offer for sale of 490,000 equity shares of face value of Rs. 10 each aggregating to
Rs. 19.94 crores by NS Niketan llp, 310,000 equity shares of face value of Rs. 10 each aggregating to Rs. 12.62 crores by SNS Infrarealty LLP and 2,579,740 equity shares of face value of Rs. 10 each aggregating to Rs. 105.00 crores by Space Solutions India Pte. Ltd. (formerly Lisbrine Pte Limited) (collectively, the "Selling Shareholders" and such equity shares, the "Offered Shares").
The offer included a reservation of 101,351 equity shares aggregating up to Rs. 3.75 crores^, for subscription by eligible employees (as defined hereinafter) (the "Employee Reservation Portion"). Pursuant to finalization of basis of allotment 88,812 equity shares were allotted to under the employee reservation portion. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 12.55% and 12.47% of its post offer paid-up equity share capital, respectively. The company, in consultation with the book running lead managers, offered a discount of up to 9.09% (equivalent of Rs.37 per equity share) to the offer price to eligible employees bidding under the employee reservation portion ("Employee Discount").
^ A discount of Rs.37 per equity share was offered to eligible employees bidding in the employee reservation portion.
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