Smartworks debt at Rs 382 Cr in Apr-end; to cut loans using IPO fund

Smartworks' debt stood at ₹382 crore at April-end, with plans to cut loans and use IPO funds. This financial update provides insight into the co-working space provider's capital structure and future strategy. The significant debt highlights its reliance on borrowing for expansion. The stated intention to reduce loans using IPO proceeds indicates a strategic shift towards a more sustainable financial model, reducing interest burdens and strengthening its balance sheet ahead of a potential public listing. This move aims to improve financial health and attractiveness to investors.