Workmates Core2Cloud IPO Details
| IPO Open Date | November 11, 2025 |
| IPO Close Date | November 13, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹200 to ₹204 Per Share |
| Issue Size | Approx ₹69.84 Crores |
| Fresh Issue | Approx ₹59.34 Crores |
| Offer for Sale: | Approx 5,14,800 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Workmates Core2Cloud IPO Review & Key Points
- Review: May Apply
Workmates Core2Cloud IPO Market Lot
The Workmates Core2Cloud IPO minimum market lot is 1,200 shares with ₹2,44,800 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 1,200 | ₹2,44,800 |
| Retail Maximum | 2 | 1,200 | ₹2,44,800 |
| S-HNI Minimum | 3 | 1,800 | ₹3,67,200 |
| S-HNI Maximum | 8 | 4,800 | ₹9,79,200 |
| B-HNI Minimum | 9 | 5,400 | ₹11,01,600 |
IPO Reservation
| Investor Category | Share Offered | % Shares |
| Anchor Investor | 9,60,000 Shares | 28.04% |
| QIB (Ex. Anchor) | 6,62,400 Shares | 19.35% |
| NII Shares Offered | 4,89,600 Shares | 14.30% |
| Retail Shares Offered | 11,40,000 Shares | 33.30% |
Workmates Core2Cloud IPO Anchor Investors
| Anchor Bidding Date | November 10, 2025 |
| Anchor Investors List | |
| Shares Offered | 9,60,000 Shares |
| Anchor Size | 19.58 Cr. |
| lock-in period end date 50% shares (30 Days) | December 14, 2025 |
| lock-in period end date 50% shares (90 Days) | February 12, 2026 |
Workmates Core2Cloud IPO Dates
The Workmates Core2Cloud IPO date is November 11 and the close date is November 13. The Workmates Core2Cloud IPO allotment will be finalized on November 14 and the IPO listing on November 18.
| IPO Open Date: | November 11, 2025 |
| IPO Close Date: | November 13, 2025 |
| Basis of Allotment: | November 14, 2025 |
| Refunds: | November 17, 2025 |
| Credit to Demat Account: | November 17, 2025 |
| IPO Listing Date: | November 18, 2025 |
| IPO Bidding Cut-off Time: | November 13, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Debasish Sarkar, Prajnashree Mohapatra, Shilpa Mohta, Anindya Sen, Anjali Awasthi, Anirban Dasgupta and Kamal Nath.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,00,10,000 | 98.10% |
| Promoter Holding Post Issue | 1,29,18,800 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions | ₹8.60 |
| Funding of Working Capital requirement of the company. | ₹29.20 |
| General Corporate Purpose | ₹- |
About Workmates Core2Cloud IPO
Founded on November 14, 2018, Workmates Core2Cloud Solution Limited is one of the growing cloud and digital transformation companies whose goal is to help businesses update, protect, and grow their digital core. It is a Kolkata-based company that went from being a startup to a Premier Tier AWS Partner in just six years, which is an achievement that AWS only gives to a small group of companies around the world.
Workmates Core2Cloud is involved in offering a wide range of cloud services, including Cloud Migration & Managed Services, DevOps & Automation, Cybersecurity & Analytics, Application Development, SAP Infrastructure Support, and Emerging Technologies. The company consists of a total of 129 employees in various departments. They have grown quickly by serving various industries such as finance, healthcare, retail, e-commerce, and media with completing over 350 projects for more than 200 clients.
Workmates Core2Cloud IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹29.14 | ₹26.60 | ₹1.86 | ₹11.14 |
| 2024 | ₹53.53 | ₹46.05 | ₹5.35 | ₹24.57 |
| 2025 | ₹108.39 | ₹89.64 | ₹13.93 | ₹62.16 |
| August 2025 | ₹59.55 | ₹49.84 | ₹7.22 | ₹69.44 |
Workmates Core2Cloud IPO Valuation – FY2025
Check Workmates Core2Cloud IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 67.44% |
| ROCE: | 64.61% |
| EBITDA Margin: | 17.58% |
| PAT Margin: | 12.85% |
| Debt to equity ratio: | (0.42) |
| Earning Per Share (EPS): | ₹13.91 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 60.85% |
| Net Asset Value (NAV): | ₹22.86 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Persistent System Limited (Consolidated) | 91.22 | 63.10 | 24.80% | 405.46 | 11,938.72 Cr. |
| Orient Technologies Ltd. (Standalone) | 12.85 | 27.64 | 20.0% | 79.17 | 839.53 Cr. |
| LTIMindtree Ltd. (Consolidated) | 155.29 | 33.10 | 21.50% | 767.28 | 38,008.10 Cr. |
IPO Lead Managers aka Merchant Bankers
- Horizon Financial Pvt.Ltd.
Company Address
Workmates Core2Cloud Solution Ltd.
Flat 7, 3rd Floor, 3A
Rammohan Mullick Garden Lane
Kolkata, West Bengal, 700010
Phone: + 91 33 450 8492
Email: [email protected]
Website: http://www.cloudworkmates.com/
IPO Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
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Note: The Workmates Core2Cloud IPO price band and date are officially announced. The (Workmates Core2Cloud IPO grey market premium) will be added to the IPO GMP page as it will start).
