Awfis Space Solutions IPO to Open on May 22

The Largest Network of Flex Workspaces in India – Awfis offers coworking spaces, enterprise solutions & ultimate mobility solution

The fresh issue portion of the IPO of Awfis Space Solutions Ltd comprises the issue of 33,42,037 shares (33.42 lakh shares approximately), which at the upper price band of ₹383 per share will translate into a fresh issue size of ₹128 crore

BILKULONLINE

Ahmedabad, May 17: Awfis Space Solutions Ltd., the largest flexible workspace solutions company in India, is set to launch its initial public offering (IPO) on May 22, 2024. The IPO will remain open for subscription until May 27, 2024, with a price band of Rs 364-383 per share. The offering aims to raise between Rs 576 crore and Rs 599 crore, valuing the company at approximately Rs 2,659 crore.

The IPO comprises a fresh issue of shares worth Rs 128 crore and an offer for sale amounting to Rs 470.93 crore. Investors can place bids for a minimum of 39 equity shares and in multiples thereafter. The face value of each share is Rs 10.

Founded and led by Amit Ramani, Awfis Space Solutions provides a wide array of flexible workspace solutions, from individual desks to customized office spaces for start-ups, SMEs, and large multinational corporations. The company’s services also include Awfis Transform, its construction and fit-out services segment, and Awfis Care, its facility management services segment. Additionally, Awfis offers various allied services such as IT support, food and beverages, storage solutions, and event hosting.

With a strong presence in all Tier 1 cities and seven Tier 2 cities, Awfis covers 16 cities and 48 micro-markets across India. The company has leveraged its early expansion into Tier 2 cities, helping establish dedicated centers for Fortune 500 companies in locations such as Jaipur, Indore, and Nagpur.

Amit Ramani, Founder and CEO of Awfis, expressed enthusiasm about the IPO, stating, “Our mission is to simplify access to quality office space by providing ‘just-in-time’ workspaces, creating a disruptive, shared economy model that offers a superior alternative to conventional offices.”

Sumit Lakhani, Deputy CEO, Ravi Dugar, CFO, Deepayen Sen, Head of Real Estate and Leasing, and Manu Dhir, COO, join Ramani in leading the company.

The bidding for the IPO will close on May 27, 2024, as the Indian stock markets will observe a holiday on May 23, 2024. Investors are encouraged to consider this opportunity to invest in the evolving workspace solutions market.

Awfis Space Solutions’ IPO opens for subscription on May 22, with a price band of Rs 364-383 per share. The offering aims to raise between Rs 576-599 crore, valuing the company at Rs 2,659 crore.

The company operates across 5 verticals; coworking, enterprise, mobility, Awfis Transform and Awfis Care. The coworking vertical is about ready to move workplace solutions for short term or for longer term agreements. The enterprise vertical offers customized office setups to enterprises, along with a complete spectrum of support services. The mobility solutions verticals offers meeting rooms to day passes and virtual office solutions. It also offers bundled solutions.