NS Niketan LLP, the promoter of Smartworks Coworking Spaces Limited , has declared that no encumbrance was created on the shares held by the promoter group during the financial year ended March 31, 2026. The disclosure, submitted to the stock exchanges, confirms that neither the promoter nor persons acting in concert have pledged or directly or indirectly encumbered their shareholding in the company.

The filing was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations require promoters to disclose any encumbrance on their holdings to ensure transparency for shareholders.

The declaration was signed by Neetish Sarda, the Designated Person for NS Niketan LLP, on April 7, 2026. The confirmation covers the entire promoter group and provides assurance regarding the unencumbered status of their shareholding for the specified financial year.

The document was addressed to the Listing Departments of both exchanges and copied to the Audit Committee of Smartworks Coworking Spaces Limited. The promoter stated that the information is provided to the best of their knowledge with respect to persons acting in concert.

Smartworks Coworking Spaces Ltd announced that its wholly owned subsidiary, Smartworks Space Pte. Ltd., will acquire Workstudio Spaces Pte. Ltd., a Singapore-based flexible workspace provider. The transaction, approved by the Audit Committee and the Board of Directors on June 25, 2026, is expected to be completed in July 2026. This acquisition will more than double the company's footprint in Singapore to approximately 76,000 sq. ft. across four centres, reinforcing its position in a key Asian business hub.

The acquisition will be funded through cash available with the subsidiary. Upon completion, Workstudio Spaces Pte. Ltd. will become a step-down subsidiary. The transaction is classified as a related party transaction because an immediate relative of a Director and promoter holds an interest in the holding company of the target entity. The company stated that the acquisition is being conducted at an arm's length basis.

Strategic Impact and Expansion

The acquisition is intended to enhance Smartworks' market presence and improve its ability to serve enterprise clients in Asia. Following the transaction, the total seating capacity in Singapore will exceed 1,500. Neetish Sarda, Founder and Managing Director of Smartworks, highlighted that Singapore remains a strategically important market supported by strong enterprise demand and healthy operating margins. He noted that existing centres in Singapore have been profitable over the past two years.

Target Entity Profile

WorkStudio Spaces Pte. Ltd. was incorporated in Singapore on November 20, 2024. The entity provides flexible workspace solutions, managed office spaces, and related services, primarily operating within Singapore. The company reported a turnover of ₹5.09 Crores from its incorporation until March 31, 2026. The target entity currently has an operational footprint of approximately 26,000 sq. ft.

As of March 31, 2026, Smartworks manages a total footprint of approximately 16.1 million sq. ft. across 66 centres in 15 cities in India and Singapore.