Workmates Core2Cloud IPO Description – Workmates Core2Cloud Solutions is a fast-growing cloud and digital transformation company that, in just six years, has scaled from a bootstrapped startup to an AWS Premier Tier Consulting Partner—a recognition achieved by only a select few globally. As of 31 August 2025, Workmates employs 168 professionals across sales, pre-sales, solution architecture, and service operations, all AWS-certified.
The company delivers end-to-end services, including assessment & migration, modernization, managed services, cybersecurity, database, and generative AI & analytics. It holds seven AWS Competencies, spanning domains like cloud operations, DevOps, and data analytics, enabling complex, large-scale cloud implementations.
Financially robust, the company reported a cash and bank balance of INR 10.88 crore as of 31 August 2025, highlighting strong liquidity for expansion. Led by seasoned co-founders alongside cybersecurity and cloud veterans, Workmates is expanding its footprint beyond India into ASEAN and global markets, positioning itself as a long-term partner for AI-led digital transformation.
Promoters of Workmates Core2Cloud Solutions – Debasish Sarkar, Kamal Nath, Anirban Dasgupta, Anindya Sen, Prajnashree Mohapatra, Shilpa Mohta, Anjali Awasthi, and Basanta Kumar Rana
Table of Contents
Workmates Core2Cloud Solutions IPO Details
| Workmates Core2Cloud IPO Dates | 11 – 13 November 2025 |
| Workmates Core2Cloud Issue Price | INR 200 – 204 per share |
| Fresh Issue | 29,08,800 shares (INR 58.18 – 59.34 crore) |
| Offer For Sale | 5,14,800 shares (INR 10.30 – 10.50 crore) |
| Total IPO Size | 34,23,600 shares (INR 68.47 – 69.84 crore) |
| Minimum Bid | 1,200 shares (INR 2,44,800) |
| Lot Size | 600 shares (INR 1,22,400) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | BSE SME |
Workmates Core2Cloud Financial Performance
| FY 2023 | FY 2024 | FY 2025 | 5M FY 2026 | |
| Revenue | 28.95 | 53.23 | 107.65 | 59.39 |
| Expenses | 26.60 | 46.05 | 89.64 | 49.84 |
| Net income | 1.86 | 5.35 | 13.93 | 7.22 |
Workmates Core2Cloud Offer News
- Workmates Core2Cloud RHP
- Workmates Core2Cloud Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
Workmates Core2Cloud Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 1.86 | 5.34 | 13.91 |
| PE ratio | – | – | 14.38 – 14.67 |
| RONW (%) | 51.47 | 59.70 | 60.85 |
| NAV | 3.61 | 8.95 | 22.86 |
| ROCE (%) | 100.85 | 122.44 | 64.61 |
| EBITDA (%) | 9.28 | 14.38 | 17.58 |
| Debt/Equity | – | – | 0.38 |
Workmates Core2Cloud IPO GMP Today
| Date | Consolidated IPO GMP | Subject to Sauda |
| 17 November 2025 | 90 | 41,500 |
| 15 November 2025 | 71 | 33,500 |
| 14 November 2025 | 50 | 23,500 |
| 13 November 2025 | 50 | 23,500 |
| 12 November 2025 | 35 | 16,000 |
| 11 November 2025 | 28 | 12,800 |
| 10 November 2025 | 25 | 11,500 |
| 8 November 2025 | 20 | 9,000 |
Workmates Core2Cloud IPO Subscription – Live Updates
| Category | QIB | NII | Individual | Total |
|---|---|---|---|---|
| Shares Offered | 6,62,400 | 4,89,600 | 11,40,000 | 22,92,000 |
| 13 Nov 2025 | 147.03 | 203.31 | 111.64 | 141.45 |
| 12 Nov 2025 | 1.48 | 13.93 | 10.19 | 8.47 |
| 11 Nov 2025 | 0.00 | 4.50 | 2.24 | 2.08 |
The market maker reservation portion of 1,71,600 shares and the anchor investor portion of 9,60,000 shares are not included in the above calculations.
Workmates Core2Cloud IPO Allotment Status
Workmates Core2Cloud IPO allotment status is now available on MUFG Intime’s website. Click on this link to get the allotment status.
Workmates Core2Cloud IPO Dates & Listing Performance
| IPO Opening Date | 11 November 2025 |
| IPO Closing Date | 13 November 2025 |
| Finalization of Basis of Allotment | 14 November 2025 |
| Initiation of refunds | 14 November 2025 |
| Transfer of shares to demat accounts | 17 November 2025 |
| IPO Listing Date | 18 November 2025 |
| Opening Price on BSE SME | INR 387.60 per share (up 90%) |
| Closing Price on BSE SME | INR 368.25 per share (up 80.51%) |
Workmates Core2Cloud Offer Lead Manager
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road, Main Building, 2nd Floor,
Kolkata- 700 001, West Bengal, India
Phone: +91 33 4600 0607
Email: [email protected]
Website: www.horizonmanagement.in
Workmates Core2Cloud Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
Workmates Core2Cloud Contact Details
WORKMATES CORE2CLOUD SOLUTION LIMITED
Flat 7, 3rd Floor, 3A, Rammohan Mullick Garden
Lane, Kolkata – 700010, West Bengal, India
Phone: 0334508 4924
E-mail: [email protected]
Website: www.cloudworkmates.com
IPO FAQs
What is the Workmates Core2Cloud offer size?
Workmates Core2Cloud offer size is INR 68.47 – 69.84 crores.
What is the Workmates Core2Cloud offer price band?
Workmates Core2Cloud public offer price is INR 200 – 204 per share.
What is the lot size of the Workmates Core2Cloud IPO?
Workmates Core2Cloud offer lot size is 600 shares.
What is the Workmates Core2Cloud IPO GMP today?
Workmates Core2Cloud IPO GMP today is INR 90 per share.
What is the Workmates Core2Cloud kostak rate today?
Workmates Core2Cloud kostak rate today is INR NA per application.
What is the Workmates Core2Cloud IPO Subject to Sauda rate today?
Workmates Core2Cloud Subject to Sauda rate today is INR 41,500 per application.