Awfis Space Solutions Limited IPO

Mainboard

Diversified Commercial Services

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

₹ 14937 /39 Shares

Check Allotment

22 May, 2024

Open Date

27 May, 2024

Close Date

28 May, 2024

Allotment Date

30 May, 2024

Listing Date

Price Summary

Last Closing

598.00 (56.14%)

52 Week High

810.00

52 Week Low

545.50

Last Update

7-Nov-2025 3:30 PM

Awfis Space Solutions Limited IPO Issue Details

Issue Price ₹364-383 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 1,56,37,736 shares(aggregating up to ₹598.93 crore)
Fresh Share 33,42,037 shares(aggregating up to ₹128 crore)
Offer For Sale 1,22,95,699 shares(aggregating up to ₹470.93 crore)
Listing at BSE, NSE
List Price 435.0(NSE)
Listing Date 2024-05-30
Lead Manager ICICI Securities Limited
Axis Capital Limited
Iifl Securities Ltd
Emkay Global Financial Services Ltd
Registrar Bigshare Services Pvt Ltd

Market Lot Size

Investors can bid for a minimum of 39 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	39	₹14,937
Retail(max)	13	507	₹1,94,181

Awfis Space Solutions Limited IPO Reservation

Awfis Space Solutions Limited IPO offers total 15,643,153 shares. Out of which 4,675,656 (29.89%) allocated to QIB, 2,337,827 (14.94%) allocated to NII,1,558,551 (9.96%) allocated to RII, 57,636 (0.37%) allocated to employees and 7,013,483 (44.83%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	7,013,483 (44.83%)
QIB Shares Offered	4,675,656 (29.89%)
NII (HNI) Shares Offered	2,337,827 (14.94%)
bNII < ₹10L	1,558,552 (9.96%)
sNII < ₹10L	779,275 (4.98%)
Retail Shares Offered	1,558,551 (9.96%)
Employee Shares Offered	57,636 (0.37%)
Total Shares Offered	15,643,153 (100%)

Awfis Space Solutions Limited IPO Documents

DRHP

RHP

Awfis Space Solutions Limited IPO Details

Awfis Space Solutions Limited IPO is a book-built issue of ₹598.93 crores, The total issue size is ₹598.93 crores. The IPO of Awfis Space Solutions Limited is priced at ₹364-383 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from May 22, 2024 and ends on May 27, 2024. The allotment for Awfis Space Solutions Limited IPO will be finalized on May 28, 2024. Awfis Space Solutions Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as May 30, 2024. The company shall list its equity shares on the BSE, NSE. Bigshare Services Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 39 shares, extendable to 14,937. The book-running lead manager for the IPO is/are ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd, Emkay Global Financial Services Ltd.

The total issue ₹598.93 crore, comprising a fresh issue of 33,42,037 shares ₹128 crore and having Offer for Sale (OFS) of 1,22,95,699 shares to mop up ₹470.93 crore.

The Awfis Space Solutions Limited IPO sets its price band at 364-383 for each share. A single application for Awfis Space Solutions Limited IPO must contain at least 39 shares. Sentiment investors need to invest a minimum of 39 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,937

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	4,675,656	2,337,827 1,558,552 779,275	1,558,551	8,629,670
Day 1 22-05-24 05:00 PM	0.30 x	2.76 2.40 x 3.49 x	6.04 x	2.03 x
Day 2 23-05-24 05:00 PM	0.32 x	6.82 5.22 x 10.01 x	12.27 x	4.28 x
Day 3 24-05-24 05:00 PM	3.39 x	20.85 18.35 x 25.84 x	21.00 x	11.35 x
Day 4 27-05-24 05:00 PM	116.95 x	129.23 138.15 x 111.41 x	52.92 x	108.10 x

Total No of Applications

20,61,958

Subscription on the basis of Applications

Retail:46.32x BHNI:27.44x SHNI:107.88x

Awfis Space Solutions Limited Valuations

EPS Pre IPO ₹/-

EPS Post IPO ₹/-

ROCE 37.43%

Debt/Equity 0.10

RoNW -7.66%

Price to Book Value 9.63

Awfis Space Solutions Limited Company Financials

In Crs.

In Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	930.61	559.69	508.58
Revenue	565.79	278.72	216.02
Profit After Tax	-46.64	-57.16	-42.64
Net Worth	169.36	94.72	150.75
Reserves & Surplus	-204.30	-223.37	-167.12
Total Borrowing	10.92	12.11	2.97

About Awfis Space Solutions Limited 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.

Awfis Space Solutions Limited - Promoter(s)

Amit Ramani

Pre Issue Share Holding : 41.05%

Post Issue Share Holding : N/A%

Awfis Space Solutions Limited IPO - Issue Objectives

Funding capital expenditure towards the establishment of new centres

Funding our working capital requirements

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.

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.

Contact Details

Awfis Space Solutions Limited

C-28-29, Kissan Bhawan, Qutab Institutional Area, New Delhi-110016

+91 1141061878

cs.corp@awfis.com

https://www.awfis.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

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. You can track the real-time subscription numbers using the links below:

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 Awfis Space Solutions Limited IPO price band is set between ₹364-383 per equity share.

Ans. To apply for Awfis Space Solutions Limited 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 Awfis Space Solutions Limited IPO allotment status online.