Awfis Space Solutions, a prominent co-working space provider, is gearing up to launch its Initial
Public Offering (IPO) worth Rs 598.93 crore. The public issue is set to open on May 22, 2024,
offering investors a chance to participate in the company’s growth. Here’s a breakdown of all the
essential information about the Awfis Space Solutions IPO.
IPO Dates
The IPO will open for subscription on May 22, 2024, and will close on May 27, 2024
Price Band
The price band for the IPO has been set between Rs 364 and Rs 383 per share
Offer Details
The IPO consists of a fresh issuance of shares worth Rs 128 crore and an offer-for-sale (OFS)
of 1,22,95,699 equity shares by existing shareholders, including the promoter Peak XV Partners
Investments. Promoter Amit Ramani holds an 18.19% stake on a fully diluted basis, while Peak
XV Partners Investments (formerly Sequoia Capital India & SEA) owns 22.86%.
Objectives of the Issue
Awfis plans to use the proceeds from the IPO for several purposes:
- (I) Rs 42.03 crore will be allocated to setting up new centers.
- (II) Rs 54.37 crore will be used to meet working capital needs.
- (III) The remainder will go towards general corporate purposes.
Lot Size
Investors can bid for a minimum of 39 equity shares and in multiples of 39 thereafter. At the
lower end of the price band, the minimum investment would be Rs 14,196 (39 shares x Rs 364
per share). At the upper end, the investment would be Rs 14,937.
Company Profile
Established in 2014, Awfis Space Solutions provides flexible workspace solutions across India.
It caters to startups, small and medium-sized enterprises (SMEs), and large corporations. In
addition to workspace solutions, Awfis offers ancillary services such as catering, IT support,
infrastructure assistance, and event organization.
Financials
In the fiscal year ending March 2023, Awfis recorded a net loss of Rs 46.64 crore, improving
from the previous year’s loss of Rs 57.2 crore. However, its revenue from operations saw a
significant increase, rising by 112% to Rs 545.3 crore.
Lead Managers
The lead managers for the IPO are ICICI Securities Limited, Axis Capital Limited, IIFL Securities
Ltd, and Emkay Global Financial Services Ltd. Bigshare Services Pvt Ltd is the registrar for the
issue.
Key Risks
Investors should be aware of several risks associated with Awfis:
- (I) The company has significant capital expenditure and working capital needs, which may require additional financing.
-
(II) wfis does not own the land or buildings of its centers. Issues with the title or ownership of
these premises could lead to center closures.
- (III) Operational risks are inherent due to the company’s focus on maintaining high service
standards across its centers. Failure to manage these risks could negatively impact Awfis’
financial performance and cash flows.
Listing Date
Awfis Space Solutions is expected to list on the BSE and NSE, with a tentative listing date of
May 30, 2024.
This IPO offers investors a chance to be part of Awfis’ journey as it continues to expand and
cater to the evolving workspace needs of businesses in India.
Disclaimer : The content of this article is for informational purposes only and does not constitute
financial advice.
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