The Workmates Core2Cloud IPO will open on November 11, 2025, and close on November 13, 2025. The Workmates Core2Cloud IPO is a book-built issue. The company will raise approximately ₹69.84 crore through the IPO, consisting of fresh shares worth ₹59.34 crore and 514,800 equity shares with a face value of ₹10.
The Workmates Core2Cloud IPO price band is ₹200 to ₹204 per share. The retail share is 35%, QIBs 50%, and HNIs 15%. The Workmates Core2Cloud IPO will be listed on the BSE on November 18, 2025. The allotment for the Workmates Core2Cloud IPO will take place on November 14, 2025.
The company reported revenue of ₹108.39 crore in 2025, compared to ₹53.53 crore in 2024. The company reported a profit of ₹13.93 crore in 2025, compared to ₹5.35 crore in 2024. Based on the financials, IPO investors should invest in IPO GMP for the long term.
Workmates Core2Cloud IPO Details
| IPO Open Date | November 11, 2025 |
| IPO Close Date | November 13, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹200 to ₹204 Per Share |
| Issue Size | Approx ₹69.84 Crores |
| Fresh Issue | Approx ₹59.34 Crores |
| Offer for Sale: | Approx 5,14,800 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Workmates Core2Cloud IPO Market Lot
The Workmates Core2Cloud IPO minimum market lot is 1,200 shares with ₹2,44,800 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 1,200 | ₹2,44,800 |
| Retail Maximum | 2 | 1,200 | ₹2,44,800 |
| S-HNI Minimum | 3 | 1,800 | ₹3,67,200 |
| S-HNI Maximum | 8 | 4,800 | ₹9,79,200 |
| B-HNI Minimum | 9 | 5,400 | ₹11,01,600 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 9,60,000 Shares | 28.04% |
| QIB (Ex. Anchor) | 6,62,400 Shares | 19.35% |
| NII Shares Offered | 4,89,600 Shares | 14.30% |
| Retail Shares Offered | 11,40,000 Shares | 33.30% |
Workmates Core2Cloud IPO Anchor Investors
| Anchor Bidding Date | November 10, 2025 |
| Anchor Investors List | . |
| Shares Offered | 9,60,000 Shares |
| Anchor Size | 19.58 Cr. |
| lock-in period end date 50% shares (30 Days) | December 14, 2025 |
| lock-in period end date 50% shares (90 Days) | February 12, 2026 |
Workmates Core2Cloud IPO Dates
The Workmates Core2Cloud IPO date is November 11 and the close date is November 13. The Workmates Core2Cloud IPO allotment will be finalized on November 14 and the IPO listing on November 18.
| IPO Open Date: | November 11, 2025 |
| IPO Close Date: | November 13, 2025 |
| Basis of Allotment: | November 14, 2025 |
| Refunds: | November 17, 2025 |
| Credit to Demat Account: | November 17, 2025 |
| IPO Listing Date: | November 18, 2025 |
| IPO Bidding Cut-off Time: | November 13, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Debasish Sarkar, Prajnashree Mohapatra, Shilpa Mohta, Anindya Sen, Anjali Awasthi, Anirban Dasgupta and Kamal Nath.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,00,10,000 | 98.10% |
| Promoter Holding Post Issue | 1,29,18,800 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Prepayment or repayment of secured loan availed by the Company from Banks / Financial Institutions | ₹8.60 |
| Funding of Working Capital requirement of the company. | ₹29.20 |
| General Corporate Purpose | ₹- |
Workmates Core2Cloud IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹29.14 | ₹26.60 | ₹1.86 | ₹11.14 |
| 2024 | ₹53.53 | ₹46.05 | ₹5.35 | ₹24.57 |
| 2025 | ₹108.39 | ₹89.64 | ₹13.93 | ₹62.16 |
| August 2025 | ₹59.55 | ₹49.84 | ₹7.22 | ₹69.44 |
Workmates Core2Cloud IPO Valuation – FY2025
Check Workmates Core2Cloud IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 67.44% |
| ROCE: | 64.61% |
| EBITDA Margin: | 17.58% |
| PAT Margin: | 12.85% |
| Debt to equity ratio: | (0.42) |
| Earning Per Share (EPS): | ₹13.91 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 60.85% |
| Net Asset Value (NAV): | ₹22.86 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Persistent System Limited (Consolidated) | 91.22 | 63.10 | 24.80% | 405.46 | 11,938.72 Cr. |
| Orient Technologies Ltd. (Standalone) | 12.85 | 27.64 | 20.0% | 79.17 | 839.53 Cr. |
| LTIMindtree Ltd. (Consolidated) | 155.29 | 33.10 | 21.50% | 767.28 | 38,008.10 Cr. |
About the Workmates Core2Cloud IPO
Founded on November 14, 2018, Workmates Core2Cloud Solutions Limited is one of the fastest-growing cloud and digital transformation companies, aiming to help businesses update, secure, and evolve their digital core. Based in Kolkata, the company has grown from a startup to a Premier Tier AWS Partner in just six years, an achievement that AWS offers to only a few companies worldwide.
Workmates Core2Cloud offers a wide range of cloud services, including cloud migration and managed services, DevOps and automation, cybersecurity and analytics, application development, SAP infrastructure support, and emerging technologies. The company employs a total of 129 employees across various departments. Providing services to various industries such as finance, healthcare, retail, e-commerce, and media, the company has grown rapidly, completing over 350 projects for over 200 clients.
Kolkata-based Workmates Core2Cloud Solutions Ltd. is an AWS Premier Consulting Partner known for its scalable and innovative cloud solutions across India. Founded in 2018, the company has rapidly expanded and completed over 350 projects for over 200 clients across various industries, including finance, healthcare, retail, e-commerce, and media.
Workmates Core2Cloud specializes in a wide range of cloud services:
Cloud Migration and Managed Services: Seamless transition and management of applications on AWS, ensuring optimized performance and cost-efficiency.
DevOps and Automation: Implementation of CI/CD pipelines and infrastructure automation using tools like AWS CloudFormation.
Cybersecurity and Analytics: Robust security solutions for cloud and hybrid environments, along with data analytics services.
Application Development: Custom application solutions tailored to business needs.
SAP Infrastructure Support: Expertise in migrating and managing SAP workloads on AWS.
Emerging technologies: Services such as IoT, blockchain, AI/ML, VR, and AR.
As of March 31, 2025, the company had a total of 129 employees across various departments.
Competitive strengths:
Customer satisfaction and long-term relationships.
Experienced promoters and proven leadership.
Scalable, capital-efficient business model
Company Address
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 Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: workmatescore.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html