The Workmates Core2Cloud IPO will open on November 11 and close on November 13. The IPO allotment is scheduled to be finalized on November 14, and the listing will take place on November 18.
Workmates Core2Cloud IPO Date, Review, Price, Allotment Details
Posted on: 06 Nov 2025
The Workmates Core2Cloud IPO will open on November 11, 2025, and close on November 13, 2025. It is a Book Built Issue through which the company plans to raise approximately ₹69.84 crores, comprising a fresh issue of ₹59.34 crores and an offer for sale of up to 5,14,800 equity shares with a face value of ₹10 each.
The IPO price band is set between ₹200 and ₹204 per share, with the retail investor quota at 35%, QIB at 50%, and HNI at 15%. The IPO allotment will be finalized on November 14, 2025, and the listing is expected on the BSE on November 18, 2025.
Financially, the company recorded a revenue of ₹108.39 crores in 2025, up from ₹53.53 crores in 2024, while profits increased to ₹13.93 crores in 2025 from ₹5.35 crores in 2024. Given this consistent financial growth, long-term investors may consider applying for this IPO.
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 Market Lot
The minimum market lot for the Workmates Core2Cloud IPO is 1,200 shares, requiring an application amount of ₹2,44,800.
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
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 Workmates Core2Cloud Limited 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 loans availed by the Company from banks/financial institutions ₹8.60 Funding of the working capital requirement of the company. ₹29.20 General Corporate Purpose ₹-
About Workmates Core2Cloud IPO
Workmates Core2Cloud Solutions Limited, founded on November 14, 2018, is a rapidly growing cloud and digital transformation company dedicated to helping businesses modernize, secure, and expand their digital infrastructure. Based in Kolkata, the company has impressively evolved from a startup to a Premier Tier AWS Partner within just six years — a recognition awarded to only a select group of firms worldwide.
Workmates Core2Cloud offers a comprehensive range of services, including Cloud Migration and Managed Services, DevOps and Automation, Cybersecurity and Analytics, Application Development, SAP Infrastructure Support, and Emerging Technologies.
With a team of 129 skilled professionals, the company has rapidly scaled its operations, catering to diverse sectors such as finance, healthcare, retail, e-commerce, and media. To date, it has completed over 350 projects for more than 200 clients, reflecting its strong industry presence and commitment to digital innovation.
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 valuation details like Earnings Per Share (EPS), Price/Earnings (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: cs@cloudworkmates.com
Website: http://www.cloudworkmates.com/
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: workmatescore.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html