Smartworks Coworking Spaces Completes Acquisition of Singapore-Based WorkStudio Spaces Pte. Ltd.
Smartworks Coworking Spaces Limited has successfully completed the acquisition of WorkStudio Spaces Pte. Ltd., a company based in Singapore. The acquisition, which was initiated previously, concluded on July 06, 2026, with a total consideration of 2.47 Million SGD. Following this transaction, WorkStudio Spaces Pte. Ltd. has become a Step Down Subsidiary of the Company.The acquisition involved Smartworks Space Pte. Ltd., a wholly owned subsidiary of Smartworks Coworking Spaces Limited. The target entity, WorkStudio Spaces Pte. Ltd., is established in Singapore and operates in the flex space provider industry, offering flexible workspace solutions and managed office spaces.
This strategic move aims to significantly enhance Smartworks' presence within Singapore. Through this acquisition, Smartworks' portfolio in the international business hub will grow to four centers, covering approximately 76,000 sq. ft., thereby more than doubling its footprint over the last two years. This expansion is expected to improve the company's market presence and bolster its ability to serve enterprise clients, supporting long-term growth across Asia.
Details regarding the acquired entity and the transaction are as follows:
| Metric | Details |
|---|---|
| Target Entity Name | WorkStudio Spaces Pte. Ltd. |
| Date of Incorporation | November 20, 2024 |
| Industry | Flex Space Provider |
| Acquisition Completion Date | July 06, 2026 |
| Consideration | 2.47 Million SGD (Cash) |
| Shareholding Acquired | 100% through Wholly-Owned Subsidiary |
The financial background of the acquired entity shows that WorkStudio Spaces Pte. Ltd., which primarily operates in Singapore, recorded a turnover of INR 5.09 Crores since its incorporation to March 31, 2026. The acquisition is categorized as a related party transaction, carried out at an arm length basis, as an immediate relative of one of the Directors (who is also a promoter) holds interest in the holding company of the target Company.
SMARTWORKS Stock Price Movement
On Monday, shares of Smartworks Coworking Spaces Limited edged higher, closing at approximately ₹476.00 after achieving a marginal 0.31% gain. The stock saw notable trading activity with a volume of 40,243 shares recorded throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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