Workmates Core2Cloud Solution Ltd. IPO

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Workmates is among India’s fastest-growing cloud and digital transformation companies, offering end-to-end cloud solutions from workload assessment to migration, modernization, managed services, cybersecurity, and AI integration. Within just six years, the company evolved from a startup to a Premier Tier AWS Consulting Partner, a recognition awarded to only a select group of global partners by Amazon Web Services (AWS).

Service Portfolio

Workmates operates on a B2B business model and offers a comprehensive suite of services, including:

i) Assessment & Migration Services
ii) Modernization Services
iii) Managed Services
iv) Cybersecurity Services
v) Gen AI & Analytics Services
vi) Database Services

These services are designed to support clients throughout their digital transformation journey — from initial migration to long-term optimization.

Industry Focus

The company serves a diverse clientele across multiple industries, with strong exposure in IT/ITES (37.41%), BFSI/Financial Services (30.40%), Manufacturing  (8.74%), E-commerce (6.02%), Media (4.58%), and Other sectors (9.39%)

This diversified presence enhances business stability and provides deep cross-industry insights.

Future Outlook

Workmates aims to expand its reach beyond India to ASEAN and other global markets, driving AI-enabled, security-first digital transformation. The company’s roadmap includes:

i) Developing industry-specific innovation playbooks.
ii) Embedding Generative AI into core operations.
iii) Integrating cybersecurity by design into cloud services.
iv) Scaling advisory capabilities for vertical transformation.

Objects of the Workmates Core2Cloud Solution Ltd. IPO:

Company proposes to utilize the Net Proceeds towards the following objects: 1. Prepayment or repayment of secured loan availed from Banks (₹8.60 cr) 2. Working Capital requirements (₹29.20 cr) 3. General Corporate Purposes

Workmates Core2Cloud Solution Ltd. IPO Details:

Open Date: Nov 11 2025
Close Date: Nov 13 2025
Total Shares: 34,23,600
Face Value: ₹ 10 Per Equity Share
Listing At: BSE SME
Listing Date: Nov 18 2025

Promoters And Management:

1. Basanta Kumar Rana is the Managing Director of the company. A graduate of Gopabandhu Science College, Utkal University, he has over 10 years of experience in cloud computing, managed services, and enterprise solutions. Since joining in 2019, he has played a major role in driving business growth, having previously worked with Sify Technologies, Tata Teleservices, and Rediff.com in leadership roles. 2. Kamal Nath, Whole-Time Director and CEO, holds a bachelor’s degree in Electronics and Communication from Bihar Institute of Technology, Sindri. With over 30 years of experience in IT and digital transformation, he formerly served as CEO of Sify Technologies and spent 17 years at HCL Comnet. He also founded VPAC, an advisory firm for digital transformation, and continues to mentor organizations through board roles. 3. Debasish Sarkar, Whole-Time Director and CFO, is a commerce graduate from St. Xavier’s College, Kolkata, and a member of ICAI. With 39 years of experience as a Chartered Accountant, he has served clients across manufacturing, services, trading, and real estate sectors. He joined the board in 2018 and became CFO and Whole-Time Director in May 2025.

Financials of Workmates Core2Cloud Solution Ltd. IPO:

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Workmates Core2Cloud Solution Ltd. IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Workmates Core2Cloud Solution Ltd. IPO:

  1. MUFG Intime India Private Limited

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