Workmates Core2Cloud IPO opens for subscription on November 11, 2025, and closes on November 13, 2025, with a price band of ₹200 to ₹204 per share, listed on BSE SME on November 18, 2025. Workmates Core2Cloud Solution Limited specializes in cloud modernization, cybersecurity, AI-driven solutions, and managed services, serving sectors like IT/ITES, BFSI, manufacturing, and e-commerce. This Workmates Core2Cloud IPO offers investors a chance to partake in the growing cloud and digital transformation market, driven by rapid technology adoption and enterprise digitization in India and ASEAN regions.
₹90
₹204
₹387.60
Expert Opinions
Market sentiment for Workmates Core2Cloud IPO is optimistic, reflecting investor confidence in its rapid growth and strong financial performance. The company stands out for its Premier Tier AWS Partnership, delivering end-to-end cloud modernization, AI-driven solutions, and cybersecurity services, serving diverse sectors including BFSI, healthcare, and e-commerce. Risks include competitive pressure in the cloud services market and dependency on strategic partnerships.
Valuation analysis for the Financial Year 2025 reveals Workmates Core2Cloud IPO with an impressive Return on Equity (ROE) of 67.44%, ROCE of 64.61%, and a Net Asset Value (NAV) of ₹22.86, highlighting operational efficiency and strong capitalization. The IPO offers a promising long-term investment opportunity as digital transformation accelerates, making it attractive for investors seeking growth exposure in India’s expanding cloud services industry.
Investor Considerations
Workmates Core2Cloud IPO investors can expect a company with strong growth and solid fundamentals. The company’s revenue grew rapidly from ₹29.14 crores in FY 2023 to ₹108.39 crores in FY 2025, with PAT rising from ₹1.86 crores to ₹13.93 crores. The IPO valuation for FY 2025 reveals a Price to Book Value of 8.92, a healthy PAT margin of 12.85%, and a manageable Debt/Equity ratio of 0.38. The sector outlook remains favorable as digital transformation and cloud adoption accelerate across industries like BFSI, healthcare, and manufacturing.
Growth prospects are supported by the company’s premier AWS partnership, scalable business model, and service diversification. Risks include dependence on top clients, technology changes, and competitive pressure. This Workmates Core2Cloud IPO suits long-term investors looking for growth exposure in India’s cloud services sector, while short-term investors should consider market volatility and business-specific risks.
| Date | GMP | Trend |
|---|---|---|
| 15 Nov 2025 18.55 | ₹90 | Up |
| 14 Nov 2025 19.15 | ₹55 | Up |
| 13 Nov 2025 11.01 | ₹50 | --- |
| 12 Nov 2025 19.49 | ₹50 | Up |
| 10 Nov 2025 20.16 | ₹25 | --- |
| 09 Nov 2025 12.02 | ₹25 | --- |
| 08 Nov 2025 19.37 | ₹25 | Up |
| 07 Nov 2025 18.52 | ₹00 | --- |
FAQs
The Grey Market Premium showed weak accuracy in predicting Workmates Core2Cloud IPO’s listing performance. With a final GMP of ₹90, it projected a premium of 44.12% over the issue price of ₹204, while the stock listed far higher at ₹387.60, delivering a massive gain of 183.14%. This resulted in a large prediction error of 139.02%, where the GMP correctly signaled a positive listing but drastically underestimated the actual gain, reflecting poor reliability in this case.
Workmates Core2Cloud IPO Current GMP is ₹90.
Workmates Core2Cloud IPO Expected Returns is 44.12%.
Workmates Core2Cloud IPO estimated listing price is ₹294.