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Awfis Space Solutions Limited IPO
Awfis Space Solutions Ltd. (‘Awfis’) is the largest flexible workspace solutions company in India based on the total number of centers (as of December 31, 2023). They provide a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office spaces for start-ups, small and medium enterprises (“SMEs'') as well as for large corporations and multinational corporations. Their flexible workspace solutions cater to varied seat cohorts ranging from a single seat to multiple seats, which can be contracted by the clients for a period ranging from one hour to several years. While their core solution is co-working solutions which includes flex workspaces, customized office spaces and mobility solutions, they have built capabilities to design, build, maintain and manage a wide range of flexible workspace requirements such as Awfis Transform and Awfis Care.
Awfis Space Solutions IPO is a book-built issue of Rs 598.93 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to Rs 128.00 crores and offer for sale of 1.23 crore shares aggregating to Rs 470.93 crores. Awfis Space Solutions IPO price band is set at ₹364 to ₹383 per share. The minimum lot size for an application is 39 Shares. ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd and Emkay Global Financial Services Ltd are the book running lead managers of the Awfis Space Solutions IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Awfis Space Solutions Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Awfis Space Solutions Limited IPO Details
| Detail | Description |
|---|---|
| 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) |
| 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 Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 Limited 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 Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 41.05% |
| Share Holding Post Issue | - |
Competitive Strength:
- -
Awfis Space Solutions Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 1,352.25 | 633.69 | -18.94 | 247.19 | - | 23.72 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 930.61 | 565.79 | -46.64 | 169.36 | - | 10.92 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 559.69 | 278.72 | -57.16 | 94.72 | - | 12.11 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2021 | 508.58 | 216.02 | -42.64 | 150.75 | - | 2.97 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 37.43% |
| Debt/Equity | 0.1 |
| RoNW | -7.66% |
| P/BV | 9.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
Objectives of Awfis Space Solutions IPO
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- ● Funding capital expenditure towards the establishment of a new center.
- ● Funding the working capital requirements.
- ● General corporate purposes.
Awfis Space Solutions IPO Review
The company is an emerging leader in India for flexible workspace solutions and providing all related services under one roof. While it has marked steady growth in its top line, its bottom line marked declining losses. Since it posted losses for the reported periods, the issue is at a negative P/E. This is a pure long term play bet and well-informed/cash surplus investors may park funds.
RHP:
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Frequently Asked Questions (FAQs)
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What is Awfis Space Solutions IPO?
Awfis Space Solutions IPO is a main-board IPO of 15,637,736 equity shares of the face value of ₹10 aggregating up to ₹598.93 crores. The issue is priced at ₹364 to ₹383 per share. The minimum order quantity is 39 Shares.
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When will Awfis Space Solutions IPO?
The Awfis Space Solutions IPO opens on May 22, 2024 and closes on May 27, 2024.
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What is the lot size of Awfis Space Solutions IPO?
Awfis Space Solutions IPO lot size is 39 Shares, and the minimum amount required is ₹14,937.
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When Awfis Space Solutions IPO allotment?
The finalization of Basis of Allotment for Awfis Space Solutions IPO will be done on Tuesday, May 28, 2024, and the allotted shares will be credited to your demat account by Wednesday, May 29, 2024.
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When is Awfis Space Solutions IPO listing date?
The Awfis Space Solutions IPO listing date is not yet announced. The tentative date of Awfis Space Solutions IPO listing is Thursday, May 30, 2024.
