On Wednesday, December 11, 85.3 lakh shares, representing 12% of the equity in Awfis Space Solutions, were traded in a block deal at ₹710 per share, valued at ₹606 crore.
The sale involved the company’s promoter, Peak XV Partners Investments, along with shareholders Bisque Ltd and Link Investment Trust, who collectively sold a 12.2% stake in the company. The transaction, valued at ₹583.4 crore, saw shares priced at ₹680 each, reflecting a 5.2% discount to the previous day’s closing price on the National Stock Exchange (NSE). The deal also includes a 90-day lock-in period.
As of the end of the September quarter, Peak XV held a 22.86% stake in Awfis, while Bisque Ltd and Link Investment Trust owned 23.47% and 0.36%, respectively.
Awfis Space Solutions is a provider of flexible workspace solutions, catering to both individual desk needs and customized office spaces for corporates. The company recently announced a partnership with NSE to design, build, and manage over 1.65 lakh square feet of office space at the Adani Inspire building in Bandra-Kurla Complex (BKC), Mumbai. This new mandate expands Awfis’ footprint in the building, where it already operates a coworking centre.
On December 11, 2024, Awfis Space Solutions shares opened at ₹719 and touched the day low of ₹701.50 at 09:30 AM.
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.
Published on: Dec 11, 2024, 9:48 AM IST
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