Awfis Space Solutions IPO: All You Need To Know Before Applying

Awfis Space Solutions Limited IPO is open for subscription starting Wednesday, May 22, 2024, and closing on Monday, May 27, 2024. The price is decided at Rs 364 to Rs 383 per share. The minimum lot size of this IPO application for the retail category is 39 shares. The minimum lot size for small NI investors is 14 lots consisting of 546 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 2,613 shares. The minimum investment required for retail category investors is Rs 14,937 (383 x 39 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,09,118 (383 x 546 shares); for big non-institutional investors, it is Rs 10,00,779 (383 x 2,613 shares). Awfis Space Solutions IPO is a book-built issue. Awfis Space Solutions IPO is a book-built issue. This IPO issue is a mix of fresh issue and OFS. The fresh issue is of Rs 128.00 crore and offer-for-sale of Rs 1.23 crore shares. The allotment for this IPO is expected to be finalised on Tuesday, May 28, 2024. Awfis Space Solutions Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Thursday, May 30, 2024. The book-running lead managers of Awfis Space Solutions Limited are ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, Emkay Global Financial Financial Services Limited. The registrar for this new IPO is Bigshare Services Private Limited.

About Awfis Space Solutions Limited

Awfis Space Solutions Limited was incorporated in December 2014, is engaged in providing workspace solutions in India. The company offers a range of flexible workspace solutions catering for the needs of individuals, startups, SMEs and large corporations. Awfis core solutions is co-working flexible workspace, custom office space and mobility solutions. The company also provides supporting services such as food and beverages, IT support, Infrastructure services and event housing. As per the latest record, the company operates 169 centres across 16 cities in India with 1,05,258 seats and a chargeable area of 5.33 million square feet. As of 31 December 2023, the company's commercial assets are 81.66% and the remaining 18.34% are alternative assets. Awfis Space Solutions had a team of 100 employees with a hospitality background, serving every client's needs. 

Objectives of Awfis Space Solutions IPO

The net amount raised from this initial public offer is likely to be utilised to fund the capital expenditure toward establishing a new centre. Additionally, to fund day-to-day capital requirements of the company. The general corporate purposes will also be fulfilled. 

Financials of Awfis Space Solutions Limited (Amt in Rs Crore)

Awfis Space Solutions reported a revenue of RS 1,154.71 crore and net profit of Rs 74.50 crore for the quarter ended on 31 December 2023. Between the FY ending on March 31, 2023 and March 31, 2022, Awfis Space Solutions’s revenue increased by 103% and PAT increased by 18.4%.