IPO

Awfis Space Solutions Limited IPO

Mainboard

Diversified Commercial Services

Listed On: May 30, 2024 at ₹ 435.0(NSE)

₹ 14937 /39 Shares

Check Allotment

Price Summary

Last Closing

730.00 (90.6%)

52 Week High

946.00

52 Week Low

371.40

Last Update

19-Sep-2024 3:30 PM

Awfis Space Solutions Limited IPO Details

22 May, 2024

Open Date

27 May, 2024

Close Date

28 May, 2024

Allotment Date

30 May, 2024

Listing Date

Issue Price

₹364-383 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Bigshare Services Pvt Ltd

List Price

435.0(NSE)

Listing Date

2024-05-30

Market Lot

Retail : 39 Shares (₹14,937/-)
S-HNI : 546 Shares (₹2,09,118/-)
B-HNI : 2,613 Shares (₹10,00,779/-)

Lead Manager

ICICI Securities Limited
Axis Capital Limited
Iifl Securities Ltd
Emkay Global Financial Services Ltd

Issue Size

Total ₹598.93 Cr :
#Fresh Issue : 3,342,037 shares(aggregating up to ₹128.00 Cr) +
#OFS : 12,295,699 shares of ₹10(aggregating up to ₹470.93 Cr)

Retail Portion

10% (Number of Retail Applications: 39,963 Approx),
(Number of S-HNI Applications : 1,427 Approx),
(Number of B-HNI Applications : 2,854 Approx)

Subscription

108.10 times

IPO Docs

DRHP RHP

Awfis Space Solutions Limited IPO Subscription Details

As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved4,675,6562,337,827
1,558,552    779,275		1,558,5518,629,670
Day 1 - 22-05-24 05:00 PM0.30 x2.76
2.40 x   3.49 x		6.04 x2.03 x
Day 2 - 23-05-24 05:00 PM0.32 x6.82
5.22 x   10.01 x		12.27 x4.28 x
Day 3 - 24-05-24 05:00 PM3.39 x20.85
18.35 x   25.84 x		21.00 x11.35 x
Day 4 - 27-05-24 05:00 PM116.95 x129.23
138.15 x   111.41 x		52.92 x108.10 x
Total No. of Applications: 20,61,958 (Approx)
Retail Subscription on the basis of Applications: Retail:46.32x BHNI:27.44x SHNI:107.88x times

Awfis Space Solutions Limited Valuations

Earnings Per Share (EPS)

₹N/A/-

P/E Ratio

N/A

RoNW

-7.66%

Net Asset Value (NAV) - As on 31.03.22

₹N/A

Awfis Space Solutions Limited Company Financials All values are in ₹ Cr.

31-Mar-2331-Mar-2231-Mar-21
Assets930.61559.69508.58
Revenue565.79278.72216.02
Profit After Tax-46.64-57.16-42.64
Net Worth169.3694.72150.75
Reserves & Surplus-204.30-223.37-167.12
Total Borrowing10.9212.112.97

About The Company

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.

Read More

Awfis Space Solutions Limited - Strength and Weakness

Strength

Awfis leads India's flexible workspace market, with 169 centers across 16 cities and 105,258 seats as of December 31, 2023.

Awfis's revenue grew at a CAGR of 74.85% from ₹1,783.60 million (2021) to ₹5,452.82 million (2023), showcasing robust financial performance.

The MA model covers 66.43% of Awfis's seats, reducing capital expenditure per seat to ₹50,000, significantly lower than competitors' ₹80,000-₹200,000.

Awfis holds the largest flexible workspace footprint in Tier 2 cities among top operators, enhancing regional economic development and workspace standards.

Weakness

Awfis has a history of net losses, with a restated loss of ₹466.37 million and negative EPS of ₹8.11 in Fiscal 2023.

Awfis experienced negative cash flows from investing activities, with a net cash outflow of ₹1,701.07 million in Fiscal 2023.

Awfis's rapid growth, with operational seats increasing from 30,253 (2021) to 79,946 (2023), may strain financial and operational resources.

Awfis's business is vulnerable to macroeconomic fluctuations. With 46.26% of clients in the IT sector, the company heavily influences demand for flexible workspaces.

Awfis Space Solutions Limited - Promoter(s)

Pre Issue Share Holding: 41.05%

Post Issue Share Holding: N/A%

Company Promoter(s)

  1. Amit Ramani

Awfis Space Solutions Limited IPO - Issue Objectives

  1. Funding capital expenditure towards the establishment of new centres
  2. Funding our working capital requirements
  3. General corporate purposes

Awfis Space Solutions Limited IPO - Anchor Investors

Institutional investors buy shares worth Rs 269 cr via anchor book.

Ashoka Whiteoak ICAV, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Axis Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Quant Mutual Fund, Invesco India, Motilal Oswal MF, Edelweiss and Bandhan Mutual Fund invested in the company under the institutional investors category.

Global investors like Goldman Sachs Funds, East Bridge Capital Master Fund, Eastspring Investments, and HSBC Global Investment Funds also participated in the anchor book of Awfis.

Other Details

Company Contact Details

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/

Registrar Contact Details

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Email: ipo@bigshareonline.com

Website: https://ipo.bigshareonline.com/ipo_status.html

Awfis Space Solutions Limited IPO - FAQs

Ans. Awfis Space Solutions Limited IPO is a Mainboard IPO. The issue is priced at ₹364-383 per equity share. The minimum order quantity is 39 Shares. The IPO opens on May 22, 2024, and closes on May 27, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Awfis Space Solutions Limited IPO opens on May 22, 2024 and closes on May 27, 2024.

Ans. The size of Awfis Space Solutions Limited IPO is Total ₹598.93 Cr : #Fresh Issue : 3,342,037 shares(aggregating up to ₹128.00 Cr) + #OFS : 12,295,699 shares of ₹10(aggregating up to ₹470.93 Cr).

Ans. The IPO price band is set between ₹364-383 per equity share.

Ans. To apply for Awfis Space Solutions Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Awfis Space Solutions Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Awfis Space Solutions Limited IPO is May 28, 2024.

Ans. The Awfis Space Solutions Limited IPO will be listed on May 30, 2024.

Ans. Follow the steps to check the allotment status for Awfis Space Solutions Limited IPO here.