Nature of the Event

Smartworks Coworking Spaces Limited has intimated the completion of its acquisition of WorkStudio Spaces Pte. Ltd., Singapore, by its wholly owned subsidiary, Smartworks Space Pte. Ltd. This disclosure is made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30th January 2026.

Key Quantitative Figures

The total consideration for the acquisition was 2.47 Million Singapore Dollars (SGD). The acquired entity, WorkStudio Spaces Pte. Ltd., reported a turnover of INR 5.09 Crores for the period since its incorporation up to 31st March 2026. The acquisition gives Smartworks 100% ownership of WorkStudio, making it a step-down wholly owned subsidiary.

Dates of Action

The transaction was completed on July 06, 2026. The disclosure letter is dated July 7, 2026. The company had previously intimated the proposed acquisition on June 25, 2026.

Parties or Entities Involved

Acquirer: Smartworks Space Pte. Ltd. (a wholly owned subsidiary of Smartworks Coworking Spaces Limited).

Target: WorkStudio Spaces Pte. Ltd., incorporated in Singapore on November 20, 2024.

Regulators: The disclosure is addressed to the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).

Purpose or Stated Rationale

The acquisition aims to strengthen Smartworks' presence in Singapore by expanding its coworking and flex space portfolio. This will grow Smartworks' portfolio in Singapore to four centres comprising approximately 76,000 sq. ft., more than doubling its footprint over the past two years. The expansion is intended to enhance market presence, improve the ability to serve enterprise clients, and support long-term growth in Asia.

Regulatory References & Compliance

The disclosure is made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, and the accompanying SEBI Master Circular. The transaction is classified as a related party transaction because an immediate relative of one of the directors (who is also a promoter) of Smartworks Coworking Spaces Limited holds an interest in the holding company of the target (WorkStudio). The company states the transaction has been carried out on an "arm's length basis."

Financial and Operational Impact

The acquisition is cash-based. The target company is in the same line of business (Flex Space Provider) as the acquirer. The operational impact includes a significant expansion of Smartworks' physical footprint in a key international market (Singapore).

Capital Structure Impact

The acquisition does not involve a share swap; it is a 100% cash acquisition of shares by a wholly owned subsidiary, so there is no direct dilution or change in the capital structure of the listed parent company, Smartworks Coworking Spaces Limited.

Other Significant Information

  • Industry: The target entity belongs to the Flex Space Provider industry.
  • Geographic Presence: WorkStudio Spaces Pte. Ltd. primarily operates in Singapore.
  • Governmental Approvals: The disclosure states that no governmental or regulatory approvals were required for this acquisition (Not Applicable).
  • Target's Financial History: Financial data for the 2nd and 3rd last financial years is not available (N.A.) as the company was incorporated in November 2024.
  • Website Hosting: This information will be hosted on the company's investor relations website at https://www.smartworksoffice.com/investors/.