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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹69.84 Cr |
| Reserved for Market Maker | ₹3.50 Cr |
| Net Issue Size | ₹69.84 Cr |
| Fresh Issue | ₹55.84 Cr |
| Offer for Sale | ₹10.50 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹200.00-204.00 per share |
| BSE Code | 544610 |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Managers |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 1,200 shares · Multiples of 600 shares
Workmates Core2Cloud Solution Limited, based in Kolkata, is an AWS Premier Consulting Partner known for scalable and innovative cloud solutions across India. Founded in 2018, the company has rapidly expanded, completing over 350 projects for more than 200 clients across various industries, including finance, healthcare, retail, e-commerce, and media.
Workmates Core2Cloud specialises in a comprehensive range of cloud services:
As of March 31, 2025, the company had a total strength of 129 in various departments.
Competitive Strength:
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions | 8.60 |
| 2 | Funding of Working Capital requirement of the company. | 29.20 |
| 3 | General corporate purposes | 10.00 |
| Period Ended | 31 Aug 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 69.44 | 62.16 | 24.57 | 11.14 |
| Total Income | 59.55 | 108.39 | 53.53 | 29.14 |
| Profit After Tax | 7.22 | 13.93 | 5.35 | 1.86 |
| EBITDA | 10.62 | 19.05 | 7.70 | 2.70 |
| NET Worth | 30.10 | 22.89 | 8.96 | 3.61 |
| Reserves and Surplus | 20.09 | 22.88 | 8.95 | 3.60 |
| Total Borrowing | 8.68 | 8.79 | ||
| Amount in ₹ Crore | ||||
| 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 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 13.91 | 13.41 |
| P/E (x) | 14.66 | 15.21 |
| Promoter Holding | 98.1% | 72.02% |
| Market Cap | ₹263.54 Cr. | |
