Workmates Core2Cloud Solution Limited IPO
Price Band
₹200 - ₹204
Total Issue
₹70 Cr
Bid Dates
11 Nov - 13 Nov
Subscription
141.38x
Listing Price
- (-)
Valuation
Market Cap
₹263.54 Cr
P/E Ratio
14.67x
P/B Ratio
8.92x
Workmates IPO Dates
Conflicting IPOs
IPOs with overlapping timeline
Business Overview
Workmates is a cloud and digital transformation company helping enterprises modernize, secure, and scale their digital core. In six years, it has grown from a startup to a Premier Tier AWS Partner, a distinction awarded to a limited set of companies globally. This recognition reflects its deep technical expertise, strong customer success, and capability to deliver complex cloud projects at scale. Entirely bootstrapped, the company is led by a visionary team that has driven consistent growth. Workmates was recently named AWS Consulting Partner of the Year 2025 for excellence in delivery, innovation, and customer satisfaction. Guided by core values of customer focus, innovation, accountability, teamwork, and integrity, Workmates aims to become a leading cloud services provider known for both precision and agility in delivering reliable, transformative cloud solutions.
Workmates IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 1,200 | ₹2,44,800 |
| Ind (Max) | 2 | 1,200 | ₹2,44,800 |
| S-HNI (Min) | 3 | 1,800 | ₹3,67,200 |
| S-HNI (Max) | 8 | 4,800 | ₹9,79,200 |
| B-HNI (Min) | 9 | 5,400 | ₹11,01,600 |
Workmates IPO Size
Objects of Issue
- Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions
- Funding of Working Capital requirements of the company
- General corporate purposes
Workmates IPO IPO Live Subscription
Updated as on 13 Nov 2025 | 05:00:00 PM
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 147.03x | 6,62,400 | 9,73,93,200 |
| NII | 202.96x | 4,89,600 | 9,93,69,600 |
| bHNI | 244.88x | 3,26,400 | 7,99,30,200 |
| sHNI | 119.11x | 1,63,200 | 1,94,39,400 |
| Individual Investor | 111.64x | 11,40,000 | 12,72,72,000 |
| Total | 141.38x | 22,92,000 | 32,40,34,800 |
Workmates IPO IPO Details Live GMP
| Date | GMP (₹) | Est. Price |
|---|
Workmates IPO Peer Comparison
(Rs. in crores)
| Particulars | Workmates Ltd. | Persistent Ltd. | Orient Ltd. | LTI Mindtree |
|---|---|---|---|---|
| Revenue from Ops (in Crs.) | 107.65 | 11,938.72 | 839.53 | 38,008.10 |
| PAT (In Crs.) | 13.93 | 1,400.16 | 50.44 | 4,602.00 |
| EPS - Basic | 13.91 | 91.22 | 12.85 | 155.29 |
| NAV per share | 22.86 | 405.46 | 79.17 | 767.28 |
| RONW | 60.85% | 24.8% | 20% | 21.5% |
| EBITDA | 17.58% | 18.19% | 8.79% | 19.19% |
| PAT Margin | 12.85% | 9.85% | 6.02% | 12.1% |
| Price to earning (PE) | 14.67 | 63.10 | 27.64 | 33.10 |
All the information pertains to FY 2024-25
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Workmates IPO IPO Financial Performance
(Rs. in crores)
| Particulars | Aug-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue from Operations | 59.39 | 107.65 | 53.23 | 28.95 |
| Profit after Tax | 7.22 | 13.93 | 5.35 | 1.86 |
| Net Worth | 30.10 | 22.89 | 8.96 | 3.61 |
| Total Borrowing | 8.68 | 8.79 | 0.00 | 0.00 |
| Total Assets | 69.44 | 62.16 | 24.57 | 11.14 |
| NAV per share (in ₹) | 30.07 | 22.86 | 8.95 | 3.61 |
| EPS - Basic (in ₹) | 7.21 | 13.91 | 5.34 | 1.86 |
Key Performance Indicators (KPIs)
EBITDA
17.58%
PAT
12.85%
ROE
67.44%
ROCE
64.61%
- All Ratios are based on Mar 2024-25
- PE, PB, and Post-Issue Market Capitalization are calculated based on the upper price band.
Promoter Holding
Promoter
98.10%
Public
1.90%
Management
Registrar & Lead Managers
Registrar
MUFG Intime India
Lead Managers (1)
Company Details
Name: Workmates Core2Cloud Solution Limited
Address: Flat 7, 3rd Floor, 3A Rammohan Mullick Garden Lane Kolkata - 700010, West Bengal, India
Number: + 91 33 450 84924
Email: cs@cloudworkmates.com
Website: www.cloudworkmates.com
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Frequently Asked Questions (FAQs)
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How to apply Workmates IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Workmates IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Workmates IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Workmates IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date