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Flattrade Kosh > IPOs > Awfis Space Solutions IPO
IPOs

Awfis Space Solutions IPO

Posted by Flattrade May 21, 2024
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Awfis Space Solutions IPO is a book-built issue of Rs 598.93 crores. The issue is a combination of a fresh issue of 0.33 crore shares aggregating to Rs 128.00 crores and an offer for sale of 1.23 crore shares aggregating to Rs 470.93 crores.

Awfis Space Solutions IPO opens for subscription on May 22, 2024, and closes on May 27, 2024. The price band for the IPO is set at ₹364 to ₹383 per share and the minimum lot size for an application is 39 Shares.

Company Summary

They are the largest flexible workspace solutions company in India as of December 31, 2023, based on a total number of centers.

The company’s core solution is co-working, including flexible workspaces, custom office spaces, and mobility solutions. Awfis Space Solutions Limited also provides supporting services such as food and beverages, IT support, infrastructure services, and event hosting.

As of December 31, 2023, they have 169 total centers across 16 total cities in India, with 105,258 total seats and a total chargeable area of 5.33 million sq. ft., of which 31 centers and 25,312 seats are under fit-out with chargeable area aggregating to 1.23 million sq. Ft.

As of December 31, 2023, they have over 2,295 clients and have a presence in 52 micro markets in India. Further,  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 and also 63 designers and project managers to enhance the industry experience.

Company Strengths

As of December 31, 2023, they are ranked 1st among the top 5 bench-marked players in the flexible workspace segment with a presence in 16 cities in India.

Their high NPS Score of 70% for three months ended June 30, 2023, reflects the high level of satisfaction and loyalty among their clients, suggesting a robust foundation for continued leadership and growth in the flexible workspace sector.

Their flexible workspace solutions cater to a diverse clientele, ranging from freelancers, startups, and SMEs to MNCs across all seat cohorts ranging from a single seat to multiple seats.

From Fiscal 2021 to Fiscal 2023, their revenue from contracts with customers has grown at a CAGR of 74.85% from ₹1,783.60 million to ₹5,452.82 million, and their total income has increased at a CAGR of 61.84% from ₹2,160.20 million to ₹5,657.87 million.

Company Financials

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,352.25930.61559.69508.58
Revenue633.69565.79278.72216.02
Profit After Tax-18.94-46.64-57.16-42.64
Net Worth247.19169.3694.72150.75
Reserves and Surplus-265.56-204.30-223.37-167.12
Total Borrowing23.7210.9212.112.97

Amount in ₹ Crore

Objectives of the IPO

The Company proposes to utilize the Net Proceeds towards funding the following objects

  • Funding capital expenditure towards the establishment of new centers.
  • Funding their working capital requirements.
  • General corporate purposes.

Promoters of the Company: The Promoters of the Company are their Individual Promoter, Amit Ramani, and their Promoter Selling Shareholder, Peak XV.

IPO details

IPO DateMay 22, 2024 to May 27, 2024
Listing DateThursday, May 30, 2024
Face Value₹10 per share
Price Band₹364 to ₹383 per share
Lot Size39 Shares
Total Issue Size15,637,736 shares (aggregating up to ₹598.93 Cr)
Fresh Issue3,342,037 shares (aggregating up to ₹128.00 Cr)
Offer for Sale12,295,699 shares of ₹10 (aggregating up to ₹470.93 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE

Lot Allocation details

ApplicationLotsSharesAmount
Retail (Min)139₹14,937
Retail (Max)13507₹194,181
S-HNI (Min)14546₹209,118
S-HNI (Max)662574₹985,842
B-HNI (Min)672613₹1,000,779

Allocation Schedule

Basis of AllotmentTuesday, May 28, 2024
Initiation of RefundsWednesday, May 29, 2024
The credit of Shares to DematWednesday, May 29, 2024
Listing DateThursday, May 30, 2024
Cut-off time for UPI mandate confirmation5 PM on May 27, 2024

IPO reservation

Investor CategoryShares Offered
QIB Shares OfferedNot less than 75% of the Net Issue
Retail Shares OfferedNot more than 10% of the Net Issue
NII (HNI) Shares OfferedNot more than 15% of the Net Issue

To check Allotment, click here

Apply for IPO
Tags: Demat Account INITIAL PUBLIC OFFERING IPO Latest IPO Stock Market Upcoming IPO
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Flattrade May 21, 2024
Previous Article Gift Nifty indicates a positive start for the Indian stock indices; The US markets ended mixed; The Asian markets traded also mixed tracking the Wall Street
Next Article Benchmark indices climbed high and closed mixed; Most sectoral indices traded higher; Broader market indices ended mixed

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