Awfis Space Solutions Limited offers workspace solutions in India. The company provides a wide range of flexible workspace solutions, including individual flexible desk needs and customized office spaces for start-ups, Small and Medium Enterprises (SMEs), large corporates and multinational corporations.
The company’s core solution is co-working, including flexible workspaces, custom office spaces, and mobility solutions. Awfis Space Solutions Limited also provide supporting services such as food and beverages, IT support, infrastructure services, and event hosting.
As of December 31, 2023, the company operates 169 centers across 16 cities in India, with a total of 105,258 seats and a chargeable area of 5.33 million sq. ft. Additionally, 31 centers with 25,312 seats are currently under fit-out, with a chargeable area totaling 1.23 million sq. ft.
As of December 31, 2023, 81.66% of the company’s centers are commercial assets, and 18.34% are alternate assets. As of December 31, 2023, the company has a team of over 100 employees with a background in hospitality servicing the needs of every client.
The company has a team of 63 designers and project managers to enhance the industry experience.
Awfis Space Solutions IPO – Details
| IPO Opening Date | 22 May 2024 |
| IPO Closing Date | 27 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,56,37,736 Shares Worth ₹598.93 Crore Fresh Issue: 33,42,037 Shares Worth ₹128.00 Crore Offer For Sale: 1,22,95,699 Shares Worth ₹470.93 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹364 – ₹383 |
| Employee Discount | ₹36 |
| Market Lot | 39 Shares |
| Min Order | 39 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Awfis Space Solutions IPO – Date Schedule
| IPO Open Date | 22 May 2024 |
| IPO Close Date | 27 May 2024 |
| Basis of Allotment Date | 28 May 2024 |
| Initiation of Refund | 29 May 2024 |
| Credit of Shares to Demat Account | 29 May 2024 |
| IPO Listing Date | 30 May 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 27, 2024 |
Awfis Space Solutions IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 39 | ₹14,937 |
| Retail (Max) | 13 | 507 | ₹1,94,181 |
| S-HNI (Min) | 14 | 546 | ₹2,09,118 |
| S-HNI (Max) | 66 | 2,574 | ₹9,85,842 |
| B-HNI (Min) | 67 | 2,613 | ₹10,00,779 |
Competitive Strengths
- Leadership in a large and growing marketplace;
- Innovating in the flexible workspace industry with the adoption of its MA model;
- Diverse space sourcing and demand strategies;
- Growth through an integrated platform approach; and
- Company’s experienced and diverse senior management team.
Company Promoters
- Amit Ramani
- Peak XV Partners Investments V (formerly known as SCI Investments V)
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 216.02 | 258.66 | -42.64 | 2.97 |
| 31 March 2022 | 278.71 | 335.87 | -57.15 | 12.11 |
| 31 March 2023 | 565.78 | 612.42 | -46.63 | 10.92 |
| 31 December 2023 | 633.69 | 652.63 | -18.94 | 23.72 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 37.43% |
| Debt/Equity | 0.1 |
| RoNW | -7.66% |
| P/BV | 9.63 |
| Pre IPO | Post IPO | |
| EPS (Rs) | -7.06 | -3.64 |
| P/E (x) | -54.26 | -105.27 |
Object Of The Issue
- Funding capital expenditure towards the establishment of new centres;
- Funding the working capital requirements and;
- General corporate purposes.
Awfis Space Solutions IPO Peer Comparison
There are no listed entities of comparable size and business model in India or abroad, which is comparable with Awfis Space Solutions business.
Awfis Space Solutions IPO Promoter Holding
| Pre Issue Share Holding | 41.53% |
| Post Issue Share Holding | 30.01% |
Awfis Space Solutions IPO Prospectus
Company Contact Information
| Awfis Space Solutions Limited C-28-29, Kissan Bhawan Qutab Institutional Area New Delhi-110016 Phone: +91 1141061878 Email: cs.corp@awfis.com Website: https://www.awfis.com/ |
Awfis Space Solutions IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Awfis Space Solutions IPO Lead Manager(s)
| 1. Axis Capital Limited 2. IIFL Securities Limited 3. ICICI Securities Limited 5. Emkay Global Financial Services Ltd |
Awfis Space Solutions IPO FAQs
| What is Awfis Space Solutions IPO? Awfis Space Solutions IPO is a main-board IPO. The issue is priced at ₹364 to ₹383 per equity share. The IPO is to be listed on BSE & NSE. |
| When Awfis Space Solutions IPO will open? The IPO is to open on 22 May 2024 for QIB, NII, and Retail Investors. |
| What is Awfis Space Solutions IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the Awfis Space Solutions IPO? You can apply Awfis Space Solutions IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Awfis Space Solutions IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Awfis Space Solutions”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Awfis Space Solutions IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Awfis Space Solutions“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Awfis Space Solutions IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Awfis Space Solutions”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Awfis Space Solutions IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Awfis Space Solutions”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Awfis Space Solutions IPO Size? Awfis Space Solutions IPO size is ₹598.93 Crore. |
| What is Awfis Space Solutions IPO Price Band? Awfis Space Solutions IPO Price Band is ₹364 to ₹383. |
| What is Awfis Space Solutions IPO Minimum and Maximum Lot Size? The minimum bid is 39 Shares with ₹14,937 amount while the maximum bid is 507 Shares with ₹1,94,181. |
| What is the Awfis Space Solutions IPO Allotment Date? Awfis Space Solutions IPO allotment date is 28 May 2024. |
| What is the Awfis Space Solutions IPO Listing Date? Awfis Space Solutions IPO listing date is 30 May 2024. The IPO is to list on BSE and NSE. |
