Awfis Space Solutions IPO

Awfis Space Solutions IPO will open for subscription from 22 May 2024. The company aims for an issue size of ₹598.93 Cr through this IPO.

Company Overview

Full nameAwfis Space Solutions Limited
Company Website

About Company

As of December 2023, Awfis Space Solutions is India’s largest flexible workspace solutions company in terms of the total number of centers. The company offers a broad spectrum of flexible workspace solutions from meeting a freelance professional’s flexible desk needs to a tailor-made office for a start-up, small and medium enterprises (SMEs), and large corporate or Multinational corporations.

As of 31 December 2023, Awfis Space had 169 total centers across 16 total cities in India, with 1,05,258 total seats and a total chargeable area of 5.33 million sq. ft., of which, 31 centers and 25,312 seats were under fit-out with chargeable area aggregating to 1.23 million sq. ft. As of the same date, the company has over 2,295 clients and a presence in 52 micro markets in India.

The company’s space owners include Prestige Estate Projects Limited, Nyati Projects Landmark (Pune) / Nysha Builders LLP, Vajram Holdings Private Limited, Majestic Auto Limited, Prabhakar Rao Asha Priya Properties Private Limited, and R B Diversified Private Limited.

The Objectives of the Issue

  • Funding capital expenditure towards the establishment of new centers;
  • Funding the working capital requirements and
  • General corporate purposes

Awfis Space Solutions IPO Timetable

IPO Opening date22 May 2024
IPO Closing27 May 2024
Basis of Allotment28 May 2024
Initiation Refund29 May 2024
Credit to Demat Account29 May 2024
Listing Date30 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 27, 2024)

Awfis Space Solutions IPO details

Issue typeBook Built Issue IPO
IPO issue size₹598.93 Cr – 15,637,736 shares
Fresh Issue₹128.00 Cr – 3,342,037 shares
Offer for sale₹470.93 Cr – 12,295,699 shares
Face value₹10 per share
Price Band₹364 to ₹383 per share
Lot size39 Shares
Employee discount₹36 per share
Shareholding pre-issue66,075,779
Shareholding post-issue69,417,816
Listing ExchangeBSE & NSE

Awfis Space Solutions IPO Lot Size

Retail (Min)139₹14,937
Retail (Max)13507₹194,181
S-HNI (Min)14546₹209,118
S-HNI (Max)662,574₹985,842
B-HNI (Min)672,613₹1,000,779

Awfis Space Solutions Offer Documents

Awfis Space Solutions IPO Reservation Details

Investor CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered7,013,483 (44.83%)NA
QIB Shares Offered4,675,656 (29.89%)NA
NII (HNI) Shares Offered2,337,827 (14.94%)
  bNII > ₹10L1,558,552 (9.96%)2,854
  sNII < ₹10L779,275 (4.98%)1,427
Retail Shares Offered1,558,551 (9.96%)39,962
Employee Shares Offered57,636 (0.37%)NA
Total Shares Offered15,643,153 (100%)

Awfis Space Solutions Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Net income(42.64)(57.16)(46.64)(18.94)
Margin (%)(23.91)(22.24)(8.55)(3.07)
(Amount in ₹ Crores)

Awfis Space Solutions Valuations & Margins

FY 2021FY 2022FY 2023 (Pre Issue)FY 2024 (Post-Issue)*
PE Ratio
(* Calculated on the basis of annualized Profits After Tax for FY 2024)
FY 2021FY 2022FY 2023
RONW (%)(28.29)(60.34)(27.54)
ROCE (%)10.881.7525.26
EBITDA (%)42.0132.2931.12

Company Promoters

  • Amit Ramani, and Peak XV Partners Investments V (Formerly known as SCI Investments V)

Promoter Holding

Pre Issue Share Holding41.05%
Post Issue Share Holding

Awfis Space Solutions IPO GMP Update

DateDay-wise IPO GMPKostakSubject to Sauda
29 May 20241203,600
28 May 20241203,600
27 May 20241103,400
25 May 20241003,300
24 May 20241003,300
23 May 20241203,750
22 May 20241404,500
21 May 20241254,500
20 May 2024752,100
18 May 2024802,200
17 May 20241002,500

Awfis Space Solutions IPO Subscription Update

Shares Offered46,75,65623,37,82715,58,55157,63686,29,670
27 May 2024116.95129.2653.1424.61108.15
24 May 20243.3920.9921.1110.4811.41
23 May 2024116.956.8212.276.814.28
22 May 20240.302.766.043.532.03

Awfis Space Solutions IPO Allotment Status

Awfis Space IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.

Awfis Space Solutions IPO Listing Details

Listing Date30 May 2024
BSE Scrip Code544181
Final Issue Price₹383 per share

Awfis Space Solutions IPO Listing Day Update

Listing ExchangeBSENSE
Final Issue Price₹383.00₹383.00
Last Trade₹402.50₹402.95

Awfis Space Solutions Lead Manager(s)

  • ICICI Securities Limited
  • Axis Capital Limited
  • IIFL Securities Ltd
  • Emkay Global Financial Services Ltd

Awfis Space Solutions Registrar

S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200

Awfis Space Solutions Contact Details

C-28-29, Kissan Bhawan,
Qutab Institutional Area, New Delhi 110 016
Phone: +91 11 4106 1878

Awfis Space Solutions IPO FAQs

How many shares in Awfis Space IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.

How to apply for an Awfis Space Public Offer?

The best way to apply for Awfis Space’s public offer is through Internet banking ASBA . You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is Awfis Space IPO GMP today?

Awfis Space IPO GMP today is ₹ 120 per share.

What is Awfis Space kostak rate today?

Awfis Space kostak rate today is ₹ NA per application.

What is Awfis Space Subject to Sauda rate today?

Awfis Space Subject to Sauda rate today is ₹ 3,600 per application.

Final thoughts

Awfis Space Solutions IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.

Happy Investing

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