Smartworks Coworking completes acquisition of WorkStudio Spaces for SGD 2.47 mn

What Smartworks announced

Smartworks Coworking Spaces Ltd filed an announcement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the completion of its acquisition of WorkStudio Spaces Pte. Ltd. (the “Target”). The transaction was finalized on 6 July 2026 with a cash outlay of SGD 2.47 million. The acquisition was executed through Smartworks Space Pte. Ltd., a wholly‑owned subsidiary of Smartworks, thereby making WorkStudio a step‑down wholly‑owned subsidiary of the listed entity.

"The acquisition aims to strengthen Smartworks’ presence in Singapore by expanding its coworking and flex‑space portfolio in a key international business hub." – Smartworks Coworking Spaces Ltd, filing dated 7 July 2026.

Details of the acquisition

• Target entity: WorkStudio Spaces Pte. Ltd., incorporated in Singapore on 20 Nov 2024. It provides flexible workspace solutions, managed office spaces and related services.
• Consideration: Cash payment of SGD 2.47 million (approximately INR 20 crore at prevailing rates).
• Ownership transferred: 100 % of the equity, acquired through Smartworks Space Pte. Ltd., which is itself wholly owned by Smartworks Coworking Spaces Ltd.
• Related‑party nature: The filing states that an immediate relative of one of Smartworks’ directors (who is also a promoter) holds an interest in the holding company of the Target. The board confirmed that the transaction was carried out on an arm‑length basis.
• Regulatory approvals: No governmental or regulatory approvals were required for the deal.
• Financials of the target: Turnover from incorporation to 31 Mar 2026 amounted to INR 5.09 crore. No data were provided for the preceding two financial years.

Impact on Singapore footprint

Prior to the acquisition, Smartworks operated two centres in Singapore. Post‑completion, the portfolio expands to four centres covering roughly 76,000 sq ft, more than doubling the space footprint built over the previous two years. The enlarged footprint is expected to:

1. Enhance market presence in a major Asian business hub.
2. Improve the ability to serve enterprise clients seeking flexible office solutions.
3. Support the company’s longer‑term growth strategy in the Asia‑Pacific region.

Key facts at a glance

Why this matters for investors

The acquisition does not involve the issuance of new shares, so there is no immediate dilution of existing shareholders. Cash outflow of SGD 2.47 million will be reflected in the company’s cash reserves and may affect short‑term liquidity, but the filing does not disclose the exact cash balance. By adding a fully owned Singapore operation, Smartworks gains direct control over a market that complements its existing Indian footprint, potentially diversifying revenue streams and reducing reliance on a single geography. The related‑party nature of the deal is disclosed, and the board’s affirmation of arm‑length pricing provides regulatory comfort, though investors cannot independently verify the fairness of the price without a valuation benchmark.

Conclusion

Smartworks Coworking Spaces Ltd has formally completed the cash acquisition of WorkStudio Spaces Pte. Ltd., turning the Singapore provider into a step‑down wholly‑owned subsidiary. The deal, valued at SGD 2.47 million, expands Smartworks’ Singapore presence to four centres and more than doubles its local footprint. While the transaction is a related‑party one, the company asserts arm‑length execution. No further regulatory approvals are pending, and the acquisition is now part of Smartworks’ operational portfolio.