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Awfis Space Solution’s Rs.600 Cr IPO Opens for subscription from 22nd May 2024

24 May 20244 mins read by Angel One
Awfis Space Solutions, a working space solutions provider, is targeting to raise Rs.600 crores through an Initial Public Offer opening this week at a face value of Rs.10 per share.
Awfis Space Solution’s Rs.600 Cr IPO Opens for subscription from 22nd May 2024
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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. 

About The Issue

Awfis Space Solutions IPO is set to open for subscription from 22nd May- 27th May at a price band of Rs.364-Rs.383 per share. The lot size for one application is set at 39 shares. The total IPO size is around Rs.600 crores. 

ICICI Securities Ltd, Axis Capital Ltd, IIFL Securities Ltd., and Emkay Global Financial Services Ltd. are the book-running lead managers for this issue. 

The QIB, NII, and retail portion are set at 75%, 15%, and 10% of the issue size respectively.

Objectives of the Issue

Awfis Space Solutions IPO intends to use the Net Proceeds to achieve several objectives: 

Firstly, Awfis will fund the capital expenditure required for establishing new centers, thereby expanding its operational footprint. Secondly, a portion of the proceeds will be allocated to meet the working capital requirements this will ensure smooth and efficient business operations. Lastly, the remaining funds are going to be used for general corporate purposes, that will be supporting the Company’s overall strategic and operational goals.

Financial Performance


Parameters Q3 FY24 Q4 FY23 Q4 FY22
Revenue Rs.635 crores Rs.565 crores Rs.278 crores
Profit After Tax -18.94 crores -46.64 crores -57.16 crores
Assets Rs.1352 crores Rs.930.61 crores Rs.559.69 crores

Conclusion: Awfis Space Solutions is an emerging leader in India for flexible workspace solutions, and offers comprehensive services under one roof. Despite steady growth in its revenue, the company has experienced increasing losses in its net income. This trend highlights its successful market presence and revenue generation but also underscores the need to address profitability challenges moving forward. The Awfis Space IPO is set to open for subscription from May 22- May 27. The share allotment should be finalised by May 28 and listing on the exchanges would take place on May 30.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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