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Awfis Space Solutions is set to make waves in the financial market with its Initial Public Offering (IPO) worth Rs. 598.93 crores. This book-built issue comprises a fresh issue of 0.33 crore shares amounting to Rs. 128.00 crores and an offer for sale of 1.23 crore shares totaling Rs. 470.93 crores.
Key IPO details:
Peak XV, Ashish Kacholia, and ChrysCapital-backed Awfis Space Solutions is launching its IPO on May 22, 2024
Closing date: May 27, 2024
Allotment date: May 28, 2024
Listing date: May 30, 2024
Price band: ₹364 to ₹383 per share
Minimum lot size: 39 Shares
Retail investor minimum investment: ₹14,937
The bid size is 39 shares, with retail investors, non-institutional investors, and qualified institutional buyers allotted 10%, 15%, and 75% respectively.
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd are the book running lead managers, with Bigshare Services Pvt Ltd as the registrar for the issue.
Established in December 2014, Awfis Space Solutions Limited is a leading provider of workspace solutions in India. Catering to individuals, start-ups, SMEs, and large corporations, Awfis offers a diverse range of flexible workspace solutions. Its core offering includes co-working spaces, custom office setups, and mobility solutions, complemented by services such as food and beverages, IT support, infrastructure services, and event hosting.
As of December 31, 2023, Awfis operates 169 centers across 16 Indian cities, boasting a total of 105,258 seats and a chargeable area of 5.33 million sq. ft. Additionally, it has 31 centers under fit-out, adding 25,312 seats and 1.23 million sq. ft. of chargeable area.
Awfis witnessed a remarkable growth trajectory, with revenue soaring by 103% and profit after tax (PAT) increasing by 18.4% between FY 2022 and FY 2023.
Key performance indicators as of December 31, 2023
- Return on Capital Employed (ROCE) of 37.43%
- Debt/Equity ratio of 0.1
- Price-to-Book Value (P/BV) ratio of 9.63
Awfis Space Solutions IPO presents investors with a unique opportunity to participate in India’s booming workspace solutions sector. With a robust business model, impressive financial performance, and strategic growth plans, Awfis seems to be poised for success in the market.
Note: The Grey Market Premium (GMP) for Awfis Space Solutions IPO stands at ₹35