The book-built IPO of Awfis Space Solutions is valued at Rs 598.93 crores. The issue consists of a 1.23 crore share offer for sale, valued at Rs 470.93 crores, and a fresh issue of 0.33 crore shares, valued at Rs 128.00 crores.
The IPO auction for Awfis Space Solutions began on May 22, 2024, and it concluded on May 27, 2024. On Tuesday, May 28, 2024, the allocation for the Awfis Space Solutions IPO is anticipated to be completed. The proposed listing date for the Awfis Space Solutions initial public offering (IPO) is Thursday, May 30, 2024, on the BSE and NSE.
The IPO price range for Awfis Space Solutions is ₹364 to ₹383 per share. A minimum of 39 shares is required for an application’s lot size. Retail investors are required to invest a minimum of ₹14,937. For both sNII and bNII, the minimum lot size investment is ₹209,118 for 14 lots (546 shares) and ₹1,000,779 for 67 lots (2,613 shares).
Up to 57,636 shares of the issuance are reserved for employees and are available at a discount of Rs 36 from the issue price.
Awfis Space Solutions IPO Details
| IPO Date | May 22, 2024 to May 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹364 to ₹383 per share |
| Lot Size | 39 Shares |
| Total Issue Size | 15,637,736 shares (aggregating up to ₹598.93 Cr) |
| Fresh Issue | 3,342,037 shares (aggregating up to ₹128.00 Cr) |
| Offer for Sale | 12,295,699 shares of ₹10 (aggregating up to ₹470.93 Cr) |
| Employee Discount | Rs 36 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 66,075,779 |
| Share holding post issue | 69,417,816 |
Awfis Space Solutions IPO Reservation
Awfis Space Solutions IPO offers 15,643,153 shares. 4,675,656 (29.89%) to QIB, 2,337,827 (14.94%) to NII, 1,558,551 (9.96%) to RII, 57,636 (0.37%) to employees and 7,013,483 (44.83%) to Anchor investors. 39,962 RIIs will receive minimum 39 shares and 1,427 (sNII) and 2,854 (bNII) will receive minimum 546 shares. (in case of oversubscription)
| 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 IPO Anchor Investors Details
Awfis Space Solutions IPO raises Rs 268.62 crore from anchor investors. Awfis Space Solutions IPO Anchor bid date is May 21, 2024. Awfis Space Solutions IPO Anchor Investors list
| Bid Date | May 21, 2024 |
| Shares Offered | 7,013,483 |
| Anchor Portion Size (In Cr.) | 268.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 27, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 26, 2024 |
Awfis Space Solutions IPO Timeline (Tentative Schedule)
Awfis Space Solutions IPO opens on May 22, 2024, and closes on May 27, 2024.
| IPO Open Date | Wednesday, May 22, 2024 |
| IPO Close Date | Monday, May 27, 2024 |
| Basis of Allotment | Tuesday, May 28, 2024 |
| Initiation of Refunds | Wednesday, May 29, 2024 |
| Credit of Shares to Demat | Wednesday, May 29, 2024 |
| Listing Date | Thursday, May 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 27, 2024 |
Awfis Space Solutions IPO Lot Size
Investors can bid for a minimum of 39 shares and in multiples thereof. The below 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 | ₹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 |
| Lot Size Calculator | |||
Awfis Space Solutions IPO Promoter Holding
The Promoters of the Company are Amit Ramani and the Promoter Selling Shareholder, Peak XV.
| Share Holding Pre Issue | 41.05% |
| Share Holding Post Issue |
About Awfis Space Solutions Limited
Awfis Space Solutions Limited, an Indian provider of workspace solutions, was incorporated in December 2014.
The organization serves the needs of individuals, start-ups, SMEs, and large corporations by providing a broad range of flexible workspace solutions.
Co-working, which includes customized office spaces, mobile solutions, and flexible workspaces, is the company’s main offering. In addition, Awfis Space Solutions Limited offers auxiliary services such event hosting, IT support, food and beverage services, and infrastructure services.
As of December 31, 2023, the company had 169 locations operating in 16 Indian cities, totaling 105,258 seats and 5.33 million square feet of billable space. In addition, 31 centers totaling 25,312 seats and 1.23 million square feet of billable space are presently being fitted out.
The business now offers internal fit-out and property management services at its facilities as part of its expanded business offerings.
81.66% of the company’s centers as of December 31, 2023, are made up of commercial assets, and 18.34% are made up of alternate assets.
By December 31, 2023, the company will employ over 100 people with experience in the hospitality industry to meet the demands of each and every customer.
There are 63 designers and project managers working for the company.
Awfis Space Solutions Limited Financial Information (Restated Consolidated)
Awfis Space Solutions Limited’s revenue increased by 103% and profit after tax (PAT) rose by 18.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,352.25 | 930.61 | 559.69 | 508.58 |
| Revenue | 633.69 | 565.79 | 278.72 | 216.02 |
| Profit After Tax | -18.94 | -46.64 | -57.16 | -42.64 |
| Net Worth | 247.19 | 169.36 | 94.72 | 150.75 |
| Reserves and Surplus | -265.56 | -204.30 | -223.37 | -167.12 |
| Total Borrowing | 23.72 | 10.92 | 12.11 | 2.97 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Awfis Space Solutions IPO is Rs 2658.7 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 37.43% |
| Debt/Equity | 0.1 |
| RoNW | -7.66% |
| P/BV | 9.63 |
Objects of the Issue (Awfis Space Solutions IPO Objectives)
The following goals (together, the “Objects”) are to be funded in part by the Net Proceeds, according to the Company’s proposal.
financing the need for operating cash, general company reasons, and capital expenditures for the construction of new centers.