Awfis Space Solutions Limited IPO : Key Highlights

Awfis Space Solutions Limited IPO is set to launch on 22 May, 2024. The company initiated its business operations in the year 2014. It is a flexible workspace solutions company and is the largest in India as on December 31, 2023, based on total number of centres. 

The company provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customise office spaces for start-ups, small and medium enterprises as well as for large corporates and multinational corporations. Over time, it has evolved from a co-working space to an integrated workspace solutions platform. While its core solution is co-working solutions which includes flex workspaces, customised office spaces and mobility solutions, the company has built capabilities to design, build, maintain and manage a wide range of flexible workspace requirements such as Awfis Transform (its construction and fit-out services business segment) and Awfis Care (its facility management services business segment).

Other Information

It also provides allied services ranging from food and beverages, information technology support services and infrastructure services such as storage and customization to event hosting and meeting arrangements.

The company has established itself as a one-stop integrated solution platform for any flexible workplace requirement. In addition, it has two distinctive formats for its workspaces with their own unique propositions, branding, audience, and purpose. It has adopted two differentiated models for sourcing and procuring workspaces, namely the straight lease (“SL”) model and the managed aggregation (“MA”) model. One of its key strategies for space procurement over time was to transition to an asset-light, low risk MA model from a SL model.

As of December 31, 2023, the company was operational in 16 cities with an operational chargeable area of 4.10 million Sq. FT., 138 operational centres, having 79946 operational and 60038 occupied seats with an occupancy percentage of 75.10. As of the said date, it had 3053 employees on its payroll. 

Awfis Space Solutions Limited IPO DETAILS

Awfis Space Solutions Limited IPO is set to launch on 22 May, 2024. The subscription timeline extends till 27 May, 2024. The size for the IPO is Rs. 598.93 Crore. Shares issued through fresh issue mode are worth Rs 128 Crore. Shares issued through offer for sale mode are worth Rs. 470.93 Crore. The lot size is 39 shares and the price is Rs. 364 to Rs. 383 per share. The company is going to get listed at BSE & NSE Mainboard. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is Bigshare Services Pvt Ltd.

Tabular Description of Awfis Space Solutions Limited IPO

Awfis Space Solutions Limited IPO: IMPORTANT DATES

Awfis Space Solutions Limited IPO begins for subscription from 22 May, 2024. The IPO subscription would continue till 27 May, 2024. The allotment status for the shareholders who applied would come on 28 May, 2024. The refunds for the ones who did not get allotment would be initiated on 29 May, 2024. The DEMAT accounts of shareholders would be credited on 29 May, 2024. The listing of the company would be completed on 30 May, 2024.

Awfis Space Solutions Limited IPO: Lead Managers

The lead managers are :

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

The minimum lot size for retail investors is 39 shares, amounting to Rs. 14937. The maximum lot size for retail investors is 507 shares, amounting to Rs. 194181. The minimum and maximum lot size for S-HNI and B-HNI are as under: 

OBJECTIVES FOR THE IPO

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

COMPANY FINANCIALS

Awfis Space Solutions Limited had an asset base of Rs. 508.58 Crore in 2021 which increased to Rs. 930.61 Crore in 2023.The asset base of the firm jumped to Rs. 1352.25 Crore as on Dec-2023. The revenue for the company was Rs. 216.02 Crore in 2021, which increased to Rs. 565.79 Crore in 2023. The revenue for 9 months ending December 2023 was Rs. 633.69 Crore. The loss of the company increased from Rs. -42.64 Crore in 2021 to Rs. -46.64 Crore in 2023. The loss generated for the 9 months ending December 2023 was Rs. -18.94 Crore.

PROS

• The company is an emerging leader in India for flexible workspace solutions and providing all related services under one roof
• While its core solution is co-working solutions which includes flex workspaces, customised office spaces and mobility solutions, the company has built capabilities to design, build, maintain and manage a wide range of flexible workspace requirements such as Awfis Transform (its construction and fit-out services business segment) and Awfis Care (its facility management services business segment). 
• The company also provides allied services ranging from food and beverages, information technology support services and infrastructure services such as storage and customization to event hosting and meeting arrangements.

Awfis Space Solutions Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1.   Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2.   Click the Awfis Space Solutions Limited IPO button and press the BID button.
3.   Entering the details asked for like UPI ID, Quantity and price.
4.   Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.