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 name | Awfis Space Solutions Limited |
| Sector | Miscellaneous |
| Industry | Miscellaneous |
| Company Website | https://www.awfis.com/ |
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 date | 22 May 2024 |
| IPO Closing | 27 May 2024 |
| Basis of Allotment | 28 May 2024 |
| Initiation Refund | 29 May 2024 |
| Credit to Demat Account | 29 May 2024 |
| Listing Date | 30 May 2024 |
Awfis Space Solutions IPO details
| Issue type | Book 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 size | 39 Shares |
| Employee discount | ₹36 per share |
| Shareholding pre-issue | 66,075,779 |
| Shareholding post-issue | 69,417,816 |
| Listing Exchange | BSE & NSE |
Awfis Space Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 39 | ₹14,937 |
| Retail (Max) | 13 | 507 | ₹194,181 |
| S-HNI (Min) | 14 | 546 | ₹209,118 |
| S-HNI (Max) | 66 | 2,574 | ₹985,842 |
| B-HNI (Min) | 67 | 2,613 | ₹1,000,779 |
Awfis Space Solutions Offer Documents
Awfis Space Solutions IPO Reservation Details
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 7,013,483 (44.83%) | NA |
| QIB Shares Offered | 4,675,656 (29.89%) | NA |
| NII (HNI) Shares Offered | 2,337,827 (14.94%) | |
| bNII > ₹10L | 1,558,552 (9.96%) | 2,854 |
| sNII < ₹10L | 779,275 (4.98%) | 1,427 |
| Retail Shares Offered | 1,558,551 (9.96%) | 39,962 |
| Employee Shares Offered | 57,636 (0.37%) | NA |
| Total Shares Offered | 15,643,153 (100%) |
Awfis Space Solutions Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 178.36 | 257.05 | 545.28 | 616.50 |
| Expenses | 258.66 | 335.87 | 612.42 | 652.64 |
| Net income | (42.64) | (57.16) | (46.64) | (18.94) |
| Margin (%) | (23.91) | (22.24) | (8.55) | (3.07) |
Awfis Space Solutions Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | (6.45) | (8.65) | (7.06) | (3.64) |
| PE Ratio | – | – | – | – |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | (28.29) | (60.34) | (27.54) |
| NAV | 22.81 | 14.33 | 25.62 |
| ROCE (%) | 10.88 | 1.75 | 25.26 |
| EBITDA (%) | 42.01 | 32.29 | 31.12 |
| Debt/Equity | 0.02 | 0.13 | 0.06 |
Company Promoters
- Amit Ramani, and Peak XV Partners Investments V (Formerly known as SCI Investments V)
Promoter Holding
| Pre Issue Share Holding | 41.05% |
| Post Issue Share Holding |
Awfis Space Solutions IPO GMP Update
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 29 May 2024 | 120 | – | 3,600 |
| 28 May 2024 | 120 | – | 3,600 |
| 27 May 2024 | 110 | – | 3,400 |
| 25 May 2024 | 100 | – | 3,300 |
| 24 May 2024 | 100 | – | 3,300 |
| 23 May 2024 | 120 | – | 3,750 |
| 22 May 2024 | 140 | – | 4,500 |
| 21 May 2024 | 125 | – | 4,500 |
| 20 May 2024 | 75 | – | 2,100 |
| 18 May 2024 | 80 | – | 2,200 |
| 17 May 2024 | 100 | – | 2,500 |
Awfis Space Solutions IPO Subscription Update
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Shares Offered | 46,75,656 | 23,37,827 | 15,58,551 | 57,636 | 86,29,670 |
| 27 May 2024 | 116.95 | 129.26 | 53.14 | 24.61 | 108.15 |
| 24 May 2024 | 3.39 | 20.99 | 21.11 | 10.48 | 11.41 |
| 23 May 2024 | 116.95 | 6.82 | 12.27 | 6.81 | 4.28 |
| 22 May 2024 | 0.30 | 2.76 | 6.04 | 3.53 | 2.03 |
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 Date | 30 May 2024 |
| BSE Scrip Code | 544181 |
| NSE Symbol | AWFIS |
| ISIN | INE108V01019 |
| Final Issue Price | ₹383 per share |
Awfis Space Solutions IPO Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹383.00 | ₹383.00 |
| Open | ₹420.05 | ₹421.00 |
| Low | ₹396.05 | ₹396.00 |
| High | ₹424.00 | ₹424.45 |
| 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
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Awfis Space Solutions Contact Details
AWFIS SPACE SOLUTIONS LIMITED
C-28-29, Kissan Bhawan,
Qutab Institutional Area, New Delhi 110 016
Phone: +91 11 4106 1878
Email: cs.corp@awfis.com
Website: www.awfis.com
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
