Awfis Space Solutions Limited IPO Detail
Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India.
The company offers a wide range of flexible workspace solutions, catering to the needs of individuals, start-ups, SMEs, and large 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.
The company has expanded its business offerings and now provides in-house fit-out and facility management services at its centers.
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.
Company Promoters
Amit Ramani and the Promoter Selling Shareholder, Peak XV.IPO Details
| IPO Opening Date | May 22, 2024 |
| IPO Closing Date | May 27, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹364 - 383 per equity share |
| Market Lot | 39 Shares |
| Min Order Quantity | 39 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹598.93 Cr |
| Fresh Issue | ₹128.00 Cr |
| Offer for Sale | ₹470.93 Cr |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.30x | 3.57x | 2.40x | 2.79x | 6.26x | 2.07x |
| Day 2 | 0.32x | 10.15x | 5.22x | 6.87x | 12.46x | 4.33x |
| Day 3 | 3.39x | 26.30x | 18.42x | 21.05x | 21.26x | 11.45x |
| Day 4 | 116.95x | 111.53x | 138.15x | 129.27x | 53.23x | 108.17x |
IPO Tentative Timetable
The Awfis Space Solutions Limited IPO open date is May 22, 2024, and the close date is May 27, 2024. The issue may list on May 30, 2024.
| IPO Open Date | May 22, 2024 |
| IPO Close Date | May 27, 2024 |
| Basis of Allotment Date | May 28, 2024 |
| Initiation of Refunds | May 29, 2024 |
| Credit of Shares to Demat Account | May 29, 2024 |
| IPO Listing Date | May 30, 2024 |
IPO Lot Size
The Awfis Space Solutions Limited IPO market lot size is 39 shares. A retail-individual investor can apply for up to 13 lots (507 shares or ₹194181).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 39 | ₹14937 |
| Maximum | 13 | 507 | ₹194181 |
IPO Promoter Holding
| Pre Issue Share Holding | 41.05% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 508.58 | 216.02 | -42.64 |
| 31-Mar-22 | 559.69 | 278.72 | -57.16 |
| 31-Dec-23 | 930.61 | 565.79 | -46.64 |
| 31-Dec-23 | 1352.25 | 633.69 | -18.94 |
Objects of the Issue:
The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the "Objects"):.
- Funding capital expenditure towards the establishment of new centres;
- Funding the working capital requirements and
- General corporate purposes
Awfis Space Solutions Limited IPO Registrar:
Bigshare Services Pvt Ltd
Awfis Space Solutions Limited IPO Lead Manager(s):
ICICI Securities Limited Axis Capital Limited Iifl Securities Ltd Emkay Global Financial Services Ltd
Company Contact Information:
Awfis Space Solutions Limited
C-28-29, Kissan Bhawan
Qutab Institutional Area
New Delhi-110016
