Qualified Institutional Buyers (QIBs) bid for 9,73,93,200 shares, Non-Institutional Investors (NIIs) for 9,95,41,200 shares, while individual investors (IND category bidding for 2 lots) placed bids for 12,72,72,000 shares.

The issue opened for bidding on 11 November 2025 and it closed on 13 November 2025. The price of the IPO was fixed between Rs 200 to Rs 204 per share. The equity shares will list on BSE's SME platform.

The IPO comprised 34,32,600 equity shares, including a fresh issue of 29,08,800 equity shares and offer for sale (OFS) of 5,14,800 equity shares.

The company intends to utilize the net proceeds for prepayment or repayment of secured loan availed by company from banks, funding of working capital requirements of company and for general corporate purposes.

Ahead of the IPO, Workmates Core2cloud Solution on Monday, 10 November 2025, raised Rs 19.58 crore from anchor investors. The board allotted 9.60 lakh shares at Rs 204 each to 5 anchor investors.

Workmates Core2Cloud Solution, founded in 2018 and based in Kolkata, is an AWS Premier Consulting Partner specializing in scalable and innovative cloud solutions across India. The company has completed over 350 projects for 200+ clients spanning finance, healthcare, retail, e-commerce, and media sectors. Its core services include cloud migration and managed services, DevOps and automation, cybersecurity and analytics, custom application development, and SAP infrastructure support. Additionally, Workmates Core2Cloud leverages emerging technologies such as IoT, Blockchain, AI/ML, VR, and AR to drive digital transformation. Known for its AWS expertise and customer-focused approach, the company helps organizations enhance efficiency, security, and innovation through the cloud. As of 31 August 2025, the company had 168 employees on its payroll.

The company recorded revenue from operations of Rs 59.38 crore and net profit of Rs 7.22 crore for the period ended 31 August 2025.