IPO Corner: Workmates Core2Cloud Solution Limited

Workmates Core2Cloud Solution Limited is a cloud and digital transformation company based in Kolkata, West Bengal, has announced the launch of its Initial Public Offering (IPO) comprising a Fresh Issue of 29,08,800 equity shares and an Offer for Sale of 5,14,800 equity shares of face value ₹10 each. The Offer will open for Anchor Investors on Monday, November 10, 2025, and for the public on Tuesday, November 11, 2025, closing on Thursday, November 13, 2025. The equity shares are proposed to be listed on the BSE SME Platform, with a tentative listing date of November 18, 2025.

• Issue Opens: November 11, 2025
• Issue Closes: November 13, 2025
• Face Value: Rs 10 each
• Price Band: Rs 200 – 204 per share
• Lot Size: 600 Shares
• Listing: BSE SME

Workmates Core2Cloud Solution Limited was founded in 2018 with a vision to build a cloud-first services company anchored on Amazon Web Services (AWS), the world’s leading cloud platform. The Company was started by a group of colleagues who bootstrapped their expertise to help enterprises and SMBs modernize with agility, security, and measurable outcomes.

Key Business Highlights

• Comprehensive Cloud Offerings: End-to-end capabilities spanning consulting, migration, application modernization, managed services, cybersecurity, and AI-driven analytics.
• Premier AWS Partnership: Recognized as an AWS Premier Tier Partner with seven AWS Competencies, among a limited group of Indian partners holding this designation.
• Strong Client Portfolio: Serves over 300 customers across industries including IT/ITES (37.41%), BFSI (30.40%), manufacturing (8.74%), e-commerce (6.02%), media (4.58%), and others (9.39%).
• Global Presence: Expanding beyond India through our Singapore subsidiary to serve clients across Singapore, Australia, the US, Bangladesh, and the UAE, strengthening our global presence and customer proximity.
• Strong Financial Performance: Revenue from operations increased from ₹2,895.06 lakhs in FY23 to ₹10,764.50 lakhs in FY25 and stood at ₹5,938.84 lakhs as on August 31, 2025. EBITDA and PAT for FY25 were ₹1,905.13 lakhs and ₹1,392.70 lakhs, respectively, while for the five months ended August 31, 2025, they stood at ₹1,061.95 lakhs and ₹721.73 lakhs, reflecting continued financial strength.
• Certified and Secure Operations: Holds ISO 9001:2015 and ISO/IEC 27001:2022 certifications for quality and information security management.
• Experienced Leadership Team: Led by Mr. Kamal Nath (CEO), Mr. Basanta Kumar Rana (Managing Director), and Mr. Debasish Sarkar (CFO), with almost 100 years of collective experience in cloud, IT, Digital and enterprise technologies and Finance.
• Scalable, Asset-Light Model: Focused on annuity based multi services, automation, Gen AI and cross-industry enterprise solutions.