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The Workmates Core2Cloud Solution Ltd. IPO opened for subscription on November 11, 2025, and focuses on delivering cutting-edge cloud solutions and digital transformation services. Positioned within India’s rapidly expanding IT infrastructure sector, the IPO has drawn early interest from tech-focused investors looking to participate in the SME digital growth story.
On Day 1 of bidding, the Workmates Core2Cloud IPO recorded an overall subscription of 0.71×, driven primarily by Non-Institutional Investors (NIIs), who subscribed 1.33×. Retail investors also showed healthy participation at 0.76×, reflecting confidence in the company’s technology-driven business model.
The IPO opened on a positive note, with encouraging retail and HNI demand. Institutional participation is expected to build further as the issue progresses. The IPO remains open for subscription until November 13, 2025.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs) |
0.00× |
Non-Institutional Investors (NIIs) |
1.33× |
Retail Individual Investors (RIIs) |
0.76× |
Total |
0.71× |
This early response showcases solid investor interest in the SME technology and cloud services segment, indicating growing optimism in India’s digital infrastructure growth.
On its second day, Workmates Core2Cloud Solution Ltd. witnessed strong investor interest, particularly from retail and non-institutional categories, taking the total subscription to 7.68x.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs) |
1.48x |
Non-Institutional Investors (NIIs) |
10.06x |
Retail Individual Investors (RIIs) |
9.91x |
Total |
7.68x |
The issue saw significant traction from retail and HNI investors, reflecting heightened optimism toward India’s growing cloud computing and digital transformation sectors.
The Workmates Core2Cloud IPO closed with exceptionally strong demand on Day 3, driven by heavy oversubscription across all investor categories. By the end of the final bidding day, the issue recorded a robust overall subscription of 130.20 times, making it one of the most sought-after SME offerings in the current cycle.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
147.03x |
Retail Individual Investors (RII) |
108.74x |
Non-Institutional Investors (NII) |
150.33x |
Total |
130.20x |
All categories witnessed exceptional participation, with NIIs subscribing nearly 79 times, followed closely by retail investors. The overwhelming response highlights strong market appetite for niche tech and cloud-solution businesses.
The Workmates Core2Cloud IPO price band is set between ₹200 and ₹204 per share, with a face value of ₹10 per share. Investors can bid for a minimum of 600 shares (1 lot) and in multiples thereof.
At the upper price limit, one lot amounts to an investment of ₹1,22,400, providing an attractive entry point for investors interested in India’s SME technology sector.
| Investor Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
Retail (Min/Max) |
1 |
600 |
₹1,22,400 |
S-HNI (Min) |
2 |
1,200 |
₹2,44,800 |
S-HNI (Max) |
10 |
6,000 |
₹12,24,000 |
B-HNI (Min) |
11 |
6,600 |
₹13,46,400 |
This structure allows participation from both small retail investors and larger HNIs looking to capitalise on the SME digital transformation trend. For live updates on subscription and allotment, visit the Workmates Core2Cloud Solution IPO page on Bajaj Markets.
Here’s the full IPO timeline highlighting key investor events — from the subscription opening to the stock exchange listing:
| Event | Date | Details |
|---|---|---|
IPO Open Date |
November 7, 2025 |
Subscription opens |
IPO Close Date |
November 11, 2025 |
IPO opens for bidding |
IPO Close Date |
November 13, 2025 |
Final day for subscription |
Basis of Allotment |
November 14, 2025 |
Share allotment finalisation |
Initiation of Refunds |
November 17, 2025 |
Refunds begin for unallotted shares |
Credit of Shares to Demat |
November 17, 2025 |
Shares credited to investors’ accounts |
Listing Date (NSE SME) |
November 18, 2025 |
Expected debut on SME platform |
UPI Mandate Cut-Off Time |
5 PM, November 13, 2025 |
Last time to confirm UPI mandate |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the Workmates Core2Cloud Solution Ltd. IPO using ASBA (via Net Banking) or UPI (through broker platforms). Both methods are SEBI-approved and ensure secure, paperless participation.
Follow these steps to apply via your bank’s ASBA service:
Log in to your internet banking account.
Navigate to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Workmates Core2Cloud Solution Ltd. IPO’ from the list.
Enter the number of lots and your bid price.
Confirm and submit your application.
The bid amount will be blocked until allotment.
Once allotted, funds are debited and shares appear in your Demat account.
You may also apply via your broker’s app or trading platform via UPI:
Log in to your Demat account or trading account on your broker platform.
Go to the IPO section and select ‘Workmates Core2Cloud Solution Ltd. IPO’.
Enter your bid details (lots and price).
Provide your UPI ID linked to your bank account.
Approve the mandate request in your UPI app (like BHIM, Google Pay, or PhonePe).
Funds remain blocked until allotment and are debited only if shares are allotted.
Upon allotment, shares will reflect in your Demat account.
The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
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