Workmates Core2cloud Ipo
Workmates Core2Cloud IPO Review & Key Points
Review: May Apply
IPO Lead Managers aka Merchant Bankers
Horizon Financial Pvt.Ltd.
| 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 |
| 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% |
| 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 |
| 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 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,00,10,000 | 98.10% |
| Promoter Holding Post Issue | 1,29,18,800 | -% |
| 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 | ₹- |
| 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 |
| 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 |
| 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. |
| 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 |