Awfis Space Solutions IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 24, 2024Let’s have a detailed review of the company and analytics of the Awfis Space Solutions IPO release date, IPO offer price, subscription, Awfis Space Solutions Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 364 to Rs 383 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 39 Shares |
| Listing Date | May 30, 2024 |
| Offer for Sale | Rs 470.93 Cr. |
| Fresh Issue | Rs 128.00 Cr. |
| IPO Size | Rs 598.93 Cr. |
| Tick Size | 1 |
Awfis Space Solutions IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Awfis Space Solutions Share Price |
Awfis Space Solutions IPO – Summary
They are the largest flexible workspace solutions company in India as on December 31, 2023, based on a total number of centers.
As of December 31, 2023, they are ranked 1st among the top 5 benchmarked players in the flexible workspace segment with a presence in 16 cities in India. Further, as of December 31, 2023, they are present in the maximum number of micro-markets in India.
The Promoter of this company is AMIT RAMANIAND PEAK XV PARTNERS INVESTMENTS V (FORMERLY KNOWN AS SCI INVESTMENTS V). The lead managers of the issue are ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited and Emkay Global Financial Services Limited, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Awfis Space Solutions IPO Date
The opening and closing dates of Awfis Space Solutions IPO are May 22, 2024 and May 27, 2024 respectively.
Awfis Space Solutions IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 22nd May | 0.30x | 2.79x | 6.26x | 3.64x | 2.07x |
| 2nd Day – 23rd May | 0.32x | 6.87x | 12.46x | 6.92x | 4.33x |
| 3rd Day – 24th May | 0.32x | 10.70x | 15.77x | 8.40x | 5.98x |
| Shares Offered or Net Issue | 4,675,656 | 2,337,827 | 1,558,551 | 57,636 | 15,643,153 |
The shares subscribed by the public will be updated here.
Awfis Space Solutions IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Awfis Space Solutions Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | May 28, 2024 |
| Refunds Initiation | May 29, 2024 |
| Credit of Shares to Demat Account | May 29, 2024 |
| Share Listing Date | May 30, 2024 |
Awfis Space Solutions IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 364 to Rs 383
Awfis Space Solutions IPO Equity Size
This Initial Public Issue of 15,637,736 Equity Shares of Rs.10 each for cash at a price of Rs 364 to Rs 383 per equity share aggregating to Rs.598.93 Cr.
Awfis Space Solutions IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,342,037 Equity Shares of Rs.10/ each.
Issue Size: 15,637,736 Equity Shares of Rs.10 each, aggregating to Rs.598.93 Cr.
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Awfis Space Solutions IPO – Live Performance
The listing date of this IPO is May 30, 2024. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Awfis Space Solutions Share Price |
Awfis Space Solutions IPO Grey Market Premium
The Awfis Space Solutions Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Awfis Space Solutions IPO – Company Overview
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 corporates and multi-national corporations.
Their flexible workspace solutions cater to varied seat cohorts ranging from a singleseat to multipleseats, which can be contracted by their clients for a period ranging from one hour to several years. Over time, they have evolved from a co-working space to an integrated workspace solutions platform.
While their core solution is co-working solutions which include 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 (their construction and fit-out services business segment) and Awfis Care (their facility management services business segment).
They also provide 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 IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets |
13,522.45
|
9,306.05
|
5,596.88
|
5,085.81
|
| *Total Revenue |
6,336.94
|
5,657.87
|
2,787.16
|
2,160.20
|
| Total Expense |
6,526.36
|
6,124.24
|
3,358.72
|
2,586.62
|
| Profit After Tax |
(189.42)
|
(466.37)
|
(571.56)
|
(426.42)
|
Earnings per Equity Share (in Million)
| 31-Dec-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
(3.05)
|
(8.11)
|
(10.68)
|
(8.38)
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. (466.37) Million, Rs. (571.56) Million and Rs. (426.42) Million respectively.
Awfis Space Solutions IPO – Promoters
The Promoter of this company is:
- AMIT RAMANI AND PEAK XV PARTNERS INVESTMENTS V (FORMERLY KNOWN AS SCI INVESTMENTS V)
List of Related Parties (Key Managerial Personnel)
- Amit Ramani, Chairman and Managing Director
- Rajesh Kharabanda, Additional Director(Non-Executive)
- Arjun Bhartia, Non-Executive Director
- Anil Parashar, Independent Director
Awfis Space Solutions IPO – Promoters Holding
- Pre-Issue Share Holding – 41.05%
- Post-Issue Share Holding – %
Awfis Space Solutions IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 15,637,736 Equity Shares aggregating up to Rs.598.93 Cr. |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 66,075,779 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Awfis Space Solutions IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding capital expenditure towards the establishment of new centers;
- Funding their working capital requirements; and 3.General corporate purposes.
Awfis Space Solutions IPO – Business Strategy
-
Continue to build an industry-leading capital efficient model
-
Expand in new and existing markets
-
Enhance their product and service offerings
-
Improving operational efficiency
Awfis Space Solutions IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Leadership in a large and growing marketplace;
- Innovating in the flexible workspace industry with the adoption of their MA model;
- Diverse space sourcing and demand strategies;
- Growth through an integrated platform approach; and
- Their experienced and diverse senior management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
(8.11)
|
(27.54)% | |
| 31-Mar-22 | (10.68) | (60.34)% | |
| Mar-21 | (8.38) | (28.29)% |
Awfis Space Solutions IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Awfis Space Solutions Limited | 10 | [●] | (8.11) | (27.54)% | 5,657.87 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Awfis Space Solutions IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited
Axis Capital Limited IIFL Securities Limited Emkay Global Financial Services Limited |
Awfis Space Solutions IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited Office No S6-2, 6th Floor Pinnacle Business Park Next to Ahura Centre Mahakali Caves Road Andheri (East), Mumbai 400 093 Maharashtra, India Telephone:+91 2262638200 E-mail: ipo@bigshareonline.com Investor Grievance E-mail: investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Jibu John SEBI Registration No: INR000001385 |
Awfis Space Solutions IPO – Other Details
- Statutory Auditor – S.R. Batliboi & AssociatesLLP
- Legal Counsel to the Company – Khaitan & Co
- Bankers to the Company – HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited
Awfis Space Solutions IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Awfis Space Solutions Limited IPO News
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News 2 – IPO RHP Prospectus Download
Awfis Space Solutions IPO Review FAQs
Check out various FAQs related to Awfis Space Solutions IPO:
What is the Issue Size of Awfis Space Solutions IPO?
The Company is making an initial public offer of 15,637,736 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Awfis Space IPO?
The price band for this particular IPO ranges between Rs 364 to Rs 383. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Awfis Space IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 22, 2024, while the closing date is set at May 27, 2024.
What is the Awfis Space IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on May 28, 2024, refund initiation is on May 29, 2024, credit of shares is on May 29, 2024, and the share listing date is on May 30, 2024.
What is the Awfis Space IPO Listing Date?
Shares of this company shall be listed in the exchanges on May 30, 2024. The date, when the listing would be done, is stagnant on May 30, 2024.
Who is the Registrar of Awfis Space IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. NA. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Awfis Space IPO?
Here are the promoters of this IPO – AMIT RAMANIAND PEAK XV PARTNERS INVESTMENTS V (FORMERLY KNOWN AS SCI INVESTMENTS V). You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Awfis Space IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Awfis Space Solutions IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Awfis Space Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is (466.37), 2022 is (571.56), and 2021 is (426.42). PAT from Dec 2023 is (189.42).
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