India, July 7 -- Coworking company Smartworks has set a price band of INR 387 to INR 407 per share for its initial public offering (IPO) that will open for subscription on July 10 and close on July 14.

At the upper end of the price band, Smartworks will be valued at about INR 4,650 Cr (around $540 Mn)

Smartworks' IPO will comprise a fresh issue of up to INR 445 Cr and an OFS component of up to 33.79 Lakh shares. The company filed its RHP last week and reduced the size of the fresh issue and OFS from INR 550 Cr and 67.59 Lakh shares, respectively, mentioned in its DRHP.

The company has reserved equity shares worth INR 3.75 Cr for its employees and will offer them a discount of INR 37 per share.

The issue will open for anchor investor b...