Workmates Core2Cloud Solution Limited Link 
Allotment
The Workmates Core2Cloud IPO will open for subscription on November 11, 2025, and close on November 13, 2025. This is a book-built issue through which the company aims to raise approximately ₹69.84 crore, comprising a fresh issue of ₹59.34 crore and an offer for sale of up to 5,14,800 equity shares with a face value of ₹10 each.
The price band for the IPO is set between ₹200 and ₹204 per share, with the issue allocation structured as 50% for QIBs, 15% for HNIs, and 35% for retail investors. The shares are proposed to be listed on the BSE on November 18, 2025, with the allotment expected on November 14, 2025.
On the financial side, Workmates Core2Cloud reported revenue of ₹108.39 crore in FY2025, up from ₹53.53 crore in FY2024. Net profit increased to ₹13.93 crore in FY2025, compared to ₹5.35 crore in FY2024, reflecting significant growth in operations and profitability.
Given the company’s strong financial performance, the Workmates Core2Cloud IPO appears suitable for long-term investors.
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Total Traded Value
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52 Weeks High
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52 Weeks Low
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Updates On
Nov 5, 2025
IPO. Open
Nov 11, 2026
IPO. Close
Nov 13, 2026
IPO. Price
₹204.00
IPO Market price
₹263.54 Cr
IPO Details
| IPO Date | 18 Nov |
| IPO Listing Date | 18 Nov |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹204.00 |
| IPO Issue Size | 34,23,600 shares |
| IPO Sale Type | Fresh Capital-cum-Offer for Sale |
| Employee Discount | ₹10.00 |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE-SME Platform |
| Share Holding Pre Issue | 1,00,10,000 shares |
IPO Timeline
| IPO Open Date | 11 Nov |
| IPO Close Date | 13 Nov |
| IPO Allotment (Tentative) | 14 Nov |
| Refunds | 17 Nov |
| Credit to Demat Account | 17 Nov |
| IPO Listing Date | 18 Nov |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 16,22,400 |
| NII (HNI) Shares Offered | 4,89,600 |
| Retail Shares Offered | 11,40,000 |
IPO Lot Size
Investors can bid for a minimum of 1,200 shares, with additional shares in multiples of 600.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,44,800 |
| Retail (Max) | 2 | 1,200 | ₹2,44,800 |
| S-HNI (Min) | 3 | 1,800 | ₹3,67,200 |
| S-HNI (Max) | 8 | 4,800 | ₹9,79,200 |
| B-HNI (Min) | 9 | 5,400 | ₹11,01,600 |
Workmates Core2Cloud Solution Limited, headquartered in Kolkata, is an AWS Premier Consulting Partner known for delivering scalable and innovative cloud solutions across India. Founded on November 14, 2018, the company has rapidly grown from a startup to a premier-tier AWS partner—an achievement recognized globally and reserved for a select few companies.
Over the years, Workmates Core2Cloud has completed over 350 projects for more than 200 clients across diverse industries including finance, healthcare, retail, e-commerce, and media.
Key Services
* Cloud Migration & Managed Services: Seamless migration and management of applications on AWS with optimized performance and cost efficiency.
* DevOps & Automation: Implementation of CI/CD pipelines and infrastructure automation using tools like AWS CloudFormation.
* Cybersecurity & Analytics: Robust security solutions for cloud and hybrid environments, coupled with advanced data analytics.
* Application Development: Custom application solutions tailored to business requirements.
* SAP Infrastructure Support: Expertise in migrating and managing SAP workloads on AWS.
* Emerging Technologies: Solutions in IoT, Blockchain, AI/ML, VR, and AR.
As of March 31, 2025, the company employed 129 professionals across various departments.
Competitive Strengths
* High customer satisfaction and long-standing client relationships
* Experienced promoters and a proven leadership team
* Scalable and capital-efficient business model
* Strong track record in delivering complex cloud projects across multiple sectors
Workmates Core2Cloud continues to drive digital transformation for Indian businesses, helping them modernize, secure, and expand their digital infrastructure with cutting-edge cloud technologies.
Company Financials (Consolidated)
| Assets | 69.44 | 62.16 | 24.57 |
| Total Income | 59.55 | 108.39 | 53.53 |
| Profit After Tax | 7.22 | 13.93 | 5.35 |
| EBITDA | 10.62 | 19.05 | 7.7 |
| NET Worth | 30.1 | 22.89 | 8.96 |
| Reserves and Surplus | 20.09 | 22.88 | 8.95 |
| Total Borrowing | 8.68 | 8.79 | - |
Key Performance Indicator (KPI)
| ROE | 67.44% |
| ROCE | 64.61% |
| Debt/Equity | 0.38 |
| RoNW | 60.85% |
| PAT Margin | 12.85% |
| EBITDA Margin | 17.58% |
| Price to Book Value | 8.92 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 29.2 |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 10 |
| 4 | Offer for Sale (OFS) | - |
Contact 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/
Detail Registrar
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
The Workmates Core2Cloud IPO opened on November 11, 2025, closed on November 13, 2025, with allotment on November 14 and listing on BSE SME on November 18, 2025.
The IPO price is fixed at ₹204 per share. Retail investors must apply for a minimum of 1,200 shares, requiring a total investment of ₹2,44,800.
The IPO size is approximately ₹70 crore, consisting of a fresh issue of ₹59.34 crore and an offer for sale of up to 5,14,800 equity shares.
The company delivered strong growth, with revenue rising to ₹108.39 crore and profit after tax increasing to ₹13.93 crore in FY2025 from ₹5.35 crore in FY2024.
With strong profitability ratios, rapid revenue growth, AWS Premier Partner status, and a scalable cloud services model, the IPO appears suitable for long-term investors seeking technology sector exposure.
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