Workmates Core2Cloud IPO Details
The key details of Workmates Core2Cloud Solution’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹69.84 Cr |
| Price Range | ₹200 - ₹204 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 1,200 |
| Investment (cut-off price) | ₹2,44,800 |
| Pre IPO Promotor Holding | 98.10% |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Workmates Core2Cloud IPO Timelines
The IPO process for Workmates Core2Cloud Solution includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
11/11/2025
Start Date13/11/2025
End Date17/11/2025
Refund Initiation17/11/2025
Credit of Shares to Demat Ac18/11/2025
Listing DateWorkmates Core2Cloud IPO Lot Size
The Workmates Core2Cloud Solution IPO has a fixed lot size of 1,200 shares, at an upper price band of ₹204 per share. For retail investors, the minimum and maximum application is 1,200 shares (2 lots) amounting to ₹2,44,800. For Small HNI (S-HNI) investors, the minimum application is 1,800 shares (3 lots) worth ₹3,67,200, while the maximum is 4,800 shares (8 lots) amounting to ₹9,79,200. Big HNI (B-HNI) investors need to apply for at least 5,400 shares (9 lots), totaling ₹11,01,600.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1200 | ₹2,44,800 |
| Retail Maximum | 2 | 1200 | ₹2,44,800 |
| S-HNI Minimum | 3 | 1800 | ₹3,67,200 |
| S-HNI Maximum | 8 | 4800 | ₹9,79,200 |
| B-HNI Minimum | 9 | 5400 | ₹11,01,600 |
Workmates Core2Cloud IPO Subscription Status
The subscription status for Workmates Core2Cloud Solution IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 147.03x | 202.96x | 111.64x | -- | 141.38x |
IPO Performance on Listing Day
On its listing day (November 18, 2025), Workmates Core2Cloud IPO delivered a very strong debut on the exchanges. The stock opened at ₹387.60, reflecting an impressive 89.8% premium over the issue price of ₹204. It further surged to an intraday high of ₹405, before encountering some selling pressure and dipping to a low of ₹368.25 which was also its closing price. Despite the intraday volatility, the stock still closed the day with an exceptional 80.39% gain over the issue price, highlighting robust investor confidence in the company’s cloud and digital infrastructure services.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹387.60 | ₹368.25 | ₹405.00 | ₹368.25 |
Workmates Core2Cloud IPO Company Financials
Workmates Core2Cloud Solution reports robust performance in FY2026 August with Total Income of ₹59.55 crores, managing expenses at ₹49.84 crores, and achieving a strong PAT (Profit After Tax) of ₹7.22 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹29.14 | ₹26.60 | ₹1.86 |
| FY 2024 | ₹53.53 | ₹46.05 | ₹5.35 |
| FY 2025 | ₹108.39 | ₹89.64 | ₹13.93 |
| FY 2026 (5 M) | ₹59.55 | ₹49.84 | ₹7.22 |
About Company
Founded in 2018 and headquartered in Kolkata, Workmates Core2Cloud Solution Limited is an AWS Premier Consulting Partner recognized for delivering scalable and innovative cloud solutions across India. The company has completed over 350 projects for more than 200 clients spanning industries such as finance, healthcare, retail, e-commerce, and media, establishing itself as a trusted technology partner for digital transformation initiatives.
Workmates Core2Cloud offers a comprehensive suite of cloud services, including cloud migration and managed services, DevOps and automation, cybersecurity and analytics, custom application development, and SAP infrastructure support on AWS. It also focuses on emerging technologies such as IoT, Blockchain, AI/ML, VR, and AR, helping businesses leverage next-generation solutions for enhanced efficiency and innovation. As of March 31, 2025, the company employed 129 professionals across its various departments.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2018 | IT (Information Technology) | Basanta Kumar Rana |
Know Before Investing
Workmates Core2Cloud IPO Strengths
- The company provides end-to-end cloud solutions including workload assessment, migration, application modernization, managed services, cybersecurity, and AI integration.
- Serving over 300 clients across sectors such as IT/ITES, BFSI, manufacturing, e-commerce, and media ensures revenue diversification.
- Presence in Singapore, Australia, the US, Bangladesh, and UAE diversifies geographic risk and opens new markets.
- Leadership with collective expertise in cloud, digital transformation, and enterprise technologies drives strategic growth.
- Emphasis on integrating generative AI and embedding cybersecurity into services strengthens competitive positioning.
Workmates Core2Cloud IPO Risks
- Five largest customers account for over 51% of revenues, which can create significant revenue risk if any major client contracts end.
- Top five suppliers constitute 86.86% of purchases, increasing vulnerability to supply chain disruptions and pricing pressures.
- Rapid evolution in cloud and digital transformation technologies requires continuous innovation and investment.
- The company’s business depends heavily on major third-party technology providers, making it sensitive to changes in their strategies or agreements.
- Market dynamics and competition from larger global cloud service providers could limit market share growth.
- Delayed licenses, certifications, or regulatory clearances may disrupt business operations.
Swot Analysis for Workmates Core2Cloud IPO
Strengths
AWS Premier Tier Partner, Comprehensive Cloud Solutions, Rapid Growth Trajectory
Weaknesses
Market Concentration, Dependence on AWS Ecosystem, Small to Mid-Sized Customer Focus
Opportunities
Cloud Adoption Growth, Hybrid Cloud Trends, Digital Transformation Initiatives
Threats
Competitive Market, Regulatory and Compliance Risks, Economic Slowdowns
Company Details
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 Registar Details
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: workmatescore.smeipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
The key objectives of Workmates Core2Cloud SME IPO are:
- Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions
- Funding of Working Capital requirement of the company.
- General corporate purposes
Horizon Management Pvt. Ltd. is the book-running lead managers for the Workmates Core2Cloud IPO.
Workmates Core2Cloud Solution Limited shows strong growth potential driven by rapid revenue expansion from ₹29.14 crore in FY23 to ₹108.39 crore in FY25, its AWS Premier Tier partnership, and global reach. Focus on AI, cybersecurity, and managed cloud services positions it for sustained long-term scalability.
The issue price for the Workmates Core2Cloud IPO is set between ₹200 to ₹204 per share.
To invest in two lot of Workmates Core2Cloud IPO, you need ₹2,40,000 at the lower price band (₹200 per share) or ₹2,44,800 at the upper price band (₹204 per share) for a lot size of 1200 shares.
Workmates Core2Cloud IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on November 18, 2025.
Refund/unblocking of funds for Workmates Core2Cloud IPO will begin on November 17, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Workmates Core2Cloud IPO shares on listing day (November 18, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.