Awfis Space Solutions Ltd. IPO

Awfis Space Solutions Ltd.

IPO Listing Details

Listed On

BSE & NSE

Listed On

Issue Price

₹383

Issue Price

Listing Price

₹432

Listing Price

Listing Gains

+₹49.25 (+12.86%)

Listing Gains

IPO Details

Bidding Dates

22 May - 27 May '24

Bidding Dates

Min. Investment

₹14,196

Min. Investment

Lot Size

39.00

Lot Size

Price Range

₹364 - ₹383

Price Range

Issue Size

314 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
    54.58x
  • Non-Institutional Investor
    129.81x
  • Qualified Institutional Buyers
    116.95x
  • Employees
    25.20x


About Company

Awfis Space Solutions Limited was incorporated in December 2014. It is one of India’s leading providers of flexible workspace solutions. Their primary customers are startups, SMEs, and large corporations. They offer a wide range of custom office solutions like shared offices, private cabins, and other infrastructure services. Along with its core solution of co-working spaces, the company also provides supporting services including IT support, event hosting, and food and beverages. It operates across 16 cities in India including Bangalore, Delhi, Mumbai, and Hyderabad. It focuses on creating a technology-centred user experience to become more client-friendly and facilitate seamless workspace coordination. To its customers, it provides innovative office solutions that foster a sense of community and flexibility. Their team has reached over 100 employees as of December 31, 2023. This includes 63 designers and project managers to enhance its expertise.

Important Dates - Awfis Space Solutions Limited IPO

Application opens on 22nd May 2024
Last date of application 27th May 2024
Date of Allotment 28th May 2024
Refund begins from 29th May 2024
Credit of shares to Demat 29th May 2024
Listing date 30th May 2024


Awfis Space Solutions Limited IPO Grey Market Premium

Date GMP
21st May Rs.165
20th May Rs.165
19th May Rs.105

Why should you invest in Awfis Space Solutions Ltd. IPO?

With 169 centres across 16 cities in India, Awfis Space Solutions Limited has become an important part of India’s co-working industry. It caters to the needs of individuals, start-ups, SMEs, and large corporations offering a range of workspaces and office-related services. 

Awfis Space Solutions Limited saw its revenue grow by 103% and its profit after tax (PAT) increase by 18.4% between the financial year ending with March 31, 2023, and March 31, 2022. This indicates better operational efficiency and improved cost management, with the potential for a superior competitive position in the co-working industry. As of December 31, 2023, 81.66% of the company's centres are commercial assets, while 18.34% are alternative assets. 

The company houses a team of over 100 employees which includes 63 designers and project managers who contribute their valuable industry experience.

 

Financial Snapshot - Awfis Space Solutions Limited IPO

Check out the financial performance of Awfis Space Solutions for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 508.58 crore Rs 216.02 crore Rs -42.64 crore
March 2022 Rs 559.69 crore Rs 278.72 crore Rs -57.16 crore
March 2023 Rs 930.61 crore Rs 565.79 crore Rs -46.64 crore

 

Awfis Space Solutions Limited IPO Noteworthy Highlights

The following goals are to be funded by the net proceeds from the issue, according to the company's proposal:

  1. Generate capital to fund the development of new centres.
  2. Generate funds for working capital needs.
  3. Support various other corporate purposes.


Awfis Space Solutions Ltd. IPO - SWOT Analysis

Strengths

  1. Awfis Space Solutions Limited has an extensive network that includes over 100 centres in many cities across India, catering to a wide variety of clients.
  2. They have a long-term focus on innovation and collaboration to create flexible and customer-oriented workspaces.
  3. They have an experienced management team including 63 designers and project managers.
  4. Their profitability and revenue growth indicate the potential for better cost management and efficiency leading to a more competitive position in the co-working industry.

Weaknesses

  1. Awfis Space Solutions Limited operates in a highly competitive industry with strong competitors that can threaten its market position.
  2. The company has high working capital requirements and has reported losses in the past.
  3. The co-working space can be very sensitive to changes in the economy with economic downturns, potentially leading to losses of revenue and reductions in profitability. 
  4. It maintains a focus on developing large urban centers which may take the focus away from emerging markets in smaller cities.

Opportunities

  1. Awfis Space Solutions Limited can benefit from advances in technologies like AI, IoT, ML, and others to improve its user experiences and make operations smoother and more streamlined.
  2. It can expand its focus from major urban cities into Tier 2 and Tier 3 cities, expanding the market it caters to and capitalising on growth opportunities.

Threats

  1. The COVID-19 pandemic caused a large disruption in its business model. Future economic downturns can cause large losses due to decreased demand.
  2. Co-working spaces have high operating costs which can reduce profit margins and threaten future growth if the company is unable to fund its utilities and amenities.



How to apply for Awfis Space Solutions Ltd. IPO?

You can apply for the Awfis Space Solutions Ltd. IPO in these ways:

UPI
Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

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Awfis Space Solutions Ltd. IPO FAQs

What are the opening and closing dates for Awfis Space Solutions Limited?

Awfis Space Solutions IPO will open for subscription on May 22, 2024 and close on May 27, 2024.

What is the price band for Awfis Space Solutions Limited?

The price band for Awfis Space Solutions is ₹364 to ₹383 per share.

What is the minimum and maximum lot size for Awfis Space Solutions Limited?

The minimum lot size is 39 shares.

Who are Awfis Space Solution Limited's lead managers?

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd are the Book Running Lead Managers (BRLM) to the issue.

Who is the registrar of the issue?

Bigshare Services Pvt Ltd is the registrar for Awfis Space Solutions IPO.

When will the Awfis Space Solutions Limited allotment take place?

The finalisation of the basis of allotment for Awfis Space Solutions Limited will be done on May 28, 2024, and the allotted shares will be credited to investors’ demat accounts by May 29, 2024.

When and where will the Awfis Space Solutions Limited shares be listed?

The equity shares of Awfis Space Solutions are anticipated to be listed on May 30, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

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