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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 bidding started from May 22, 2024 and ended on May 27, 2024. The allotment for Awfis Space Solutions IPO was finalized on Tuesday, May 28, 2024. The shares got listed on BSE, NSE on May 30, 2024.
Awfis Space Solutions IPO price band is set at ₹364 to ₹383 per share. The minimum lot size for an application is 39 Shares. The minimum amount of investment required by retail investors is ₹14,937. The minimum lot size investment for sNII is 14 lots (546 shares), amounting to ₹209,118, and for bNII, it is 67 lots (2,613 shares), amounting to ₹1,000,779.
The issue includes a reservation of up to 57,636 shares for employees offered at a discount of Rs 36 to the issue price.
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.
Refer to Awfis Space Solutions IPO RHP for detailed information.
| IPO Date | May 22, 2024 to May 27, 2024 |
| Listing Date | May 30, 2024 |
| 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 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 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 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 |
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 | |||
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 |
Incorporated in December 2014, 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'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 | ||||
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 |
The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the "Objects"):.
[Dilip Davda] 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. Read detail review...
The Awfis Space Solutions IPO is subscribed 108.17 times on May 27, 2024 6:19:05 PM. The public issue subscribed 53.23 times in the retail category, 116.95 times in the QIB category, and 129.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 116.95 |
| NII | 129.27 |
| bNII (bids above ₹10L) | 138.15 |
| sNII (bids below ₹10L) | 111.53 |
| Retail | 53.23 |
| Employee | 24.68 |
| Total | 108.17 |
Total Application : 2,074,288 (52.26 times)
| Listing Date | May 30, 2024 |
| BSE Script Code | 544181 |
| NSE Symbol | AWFIS |
| ISIN | INE108V01019 |
| Final Issue Price | ₹383 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹383.00 |
| ₹420.05 |
| ₹396.05 |
| ₹424.00 |
| ₹402.50 |
| NSE |
|---|
| ₹383.00 |
| ₹421.00 |
| ₹396.00 |
| ₹424.45 |
| ₹402.95 |
Awfis Space Solutions Limited
C-28-29, Kissan Bhawan
Qutab Institutional Area
New Delhi-110016
Phone: +91 1141061878
Email: cs.corp@awfis.com
Website: https://www.awfis.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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.
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.
Zerodha customers can apply online in Awfis Space Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Awfis Space Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Awfis Space Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Awfis Space Solutions IPO opens on May 22, 2024 and closes on May 27, 2024.
Awfis Space Solutions IPO lot size is 39 Shares, and the minimum amount required is ₹14,937.
You can apply in Awfis Space Solutions IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
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. Check the Awfis Space Solutions IPO allotment status.
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