IPO Details

Bidding Dates

27 Sep '23 - 03 Oct '23

Minimum Investment

₹111,600 / 1 Lots ( 1200 Shares )

Price Range

₹93

Maximum Investment

₹111,600 / 1 Lots ( 1200 Shares )

Retail Discount

Not Applicable

Issue Size

₹15.62 crore

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors  |   Retail Individual Investors  |  

Kontor Space Ltd. IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 27, 2023

IPO Closing Date

Oct 3, 2023

Basis of Allotment

Oct 6, 2023

Initiation of Refunds

Oct 9, 2023

Credit of Shares to Demat Account

Oct 10, 2023

IPO Listing Date

Oct 11, 2023

cut-off time for IPO UPI mandates Confirmation

Oct 3, 2023

Kontor Space IPO Subscription Details

DateRetailTotal

Day 1Sep 27, 2023

 5.56 3.11

Day 2Sep 28, 2023

 11.34 6.40

Day 3Sep 29, 2023

 29.05 16.74

Kontor Space IPO Subscription Live Status

Investor Category Subscription (Times)
Non-Institutional Buyers 4.40
Retail Investors 29.05
Total 16.74

About Kontor Space Ltd.

Kontor Space provides “space-as-a-service” by renting and managing commercial spaces for co-working at competitive prices. They have a wide client base, ranging from small-scale startups to large conglomerates. With a strong brand image in this field, Kontor Space finds itself poised to aggressively expand into newer markets by acquiring and managing more spaces in addition to its existing four spaces in Thane, Pune, Fort and BKC (Mumbai).

They not only offer co-working spaces but also invest in fit-outs to customise the properties to suit their business model. This involves investments to renovate and modernise the properties according to the business requirements of potential clients. Business requirements include providing furniture, work desks, open work areas, cabins, meeting rooms, conference rooms, cafeterias, play areas, reception, lockers, de-stress zones etc. Furthermore, such spaces may also be provided with additional equipment like printers, scanners, attendance devices, telephones, internet, ACs, water coolers, and other facilities.

The demand in the co-working space industry is driven by factors such as the increased number of start-ups, freelance workers, rising rent costs, etc. COVID-19 also made companies realise the need for flexibility in working space. The supply of such spaces is enabled by the system of sharing certain amenities such as kitchens, office equipment, etc. According to a report prepared by Mordor Intelligence, the size of the co-working office spaces market in India was USD 1.78 billion in 2022 and is anticipated to register a CAGR of over 7% during 2023-2028. Therefore, Kontor Space’s market size is expected to grow in the coming years.

Kontor Space Ltd IPO Details

Kontor Space Ltd IPO Date

Kontor Space IPO is open from September 27, 2023 to October 3, 2023.

Kontor Space Ltd IPO Price Band

Kontor Space is a fixed-price IPO, with the price set at ₹93 per share.

Kontor Space Ltd IPO Lot Size

The Kontor Space Ltd IPO lot size is 1,200 shares per lot.

Kontor Space Ltd IPO Objectives 

The net proceeds of the fresh issue are proposed to be utilised in the following manner:

  1. To make the payment of rental deposits of new co-working centres.
  2. To carry out the capital expenditure for fit-outs of new co-working centres.
  3. General corporate purposes.

Peer Details

The companies considered by Kontor Space as its peers include:

  1. Indian peers
    1. 91Springboard
    2. Simpliworks
    3. Smartworks
    4. Coworks
    5. Awfis
  2. International peers
    1. WeWork
    2. VentureX
    3. Regus
    4. The Executive Centre

How to Check the Allotment Status of the Kontor Space Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Kontor Space Ltd 

Registered office: Office No. A1 & B1, 9th Floor, Ashar IT Park Road No. 16 Z, Wagle Industrial Estate, Thane West, Maharashtra 400604

Phone: +91 022- 62790001

E-mail: info@kontorspace.in

Kontor Space Ltd Company Financials

Financial year Year Ending on March 31, 2023 (₹ in lakh) Year Ending on March 31, 2022 (₹ in lakh) Year Ending on March 31, 2021 (₹ in lakh)
Total Income 917.84 403.75 390.24
Profit for the Year 187.88 30.44 61.75
Current Ratio (x) 0.91 0.32 0.64
Return on Capital Employed 31.19% 20.48 10.64
Net Increase in Cash and Cash Equivalents 204.12 19.39 6.84

Know before investing

Strengths

3

  1. They do not own the office spaces themselves; instead, they lease them from the owners. This helps the company stay asset-light and flexible.

  2. They offer not only the spaces, but also other amenities, which helps the new age companies and workers to seamlessly make use of the space.

  3. Most of their management have extensive experience in the real estate industry, which allows them to make more optimal decisions. This, combined with a robust brand image, helps Kontor Space be prepared for further expansion with the help of capital infusion.

Risks

3

  1. They have suffered losses in the past and have a current ratio of less than 1. Therefore, they need to make sure that the business has adequate assets to meet its liabilities on time.

  2. Their revenue sources are highly concentrated. For instance, their top 3 clients in the Thane, Pune and Fort Centres for the year ending on March 31, 2023 accounted for 83.57%, 98.61% and 100%, respectively, of their revenue from operations from each centre. Therefore, the loss of a single client may badly affect their revenues.

  3. Delays in fit-outs and, consequently, in revenue flows may negatively affect their profits.

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Kontor Space Ltd IPO FAQs

What is Kontor Space Ltd's IPO?

Kontor Space IPO has only a fresh issue component. It is a fixed price issue priced at ₹93 per share.

When will Kontor Space Ltd's IPO be allotted?

The allotment date is Friday, October 6, 2023.

When will Kontor Space Ltd's IPO open for subscription?

The IPO subscription window is September 27, 2023 to October 3, 2023.

What minimum lot size can retail investors subscribe to?

The minimum lot size is 1,200 shares per lot.

When will Kontor Space Ltd list on exchanges?

Kontor Space Ltd IPO will be listed on the NSE SME on Wednesday, October 11, 2023.

How do I check the allotment status of the Kontor Space Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Kontor Space Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on Wednesday, October 11, 2023 on the stock exchange.

 

I have finished the application process for the Kontor Space Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Kontor Space Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.