Awfis Space Solutions shares surged over 17% to ₹925.25 on the BSE, hitting an all-time high after announcing new Bengaluru centres. The stock has seen a remarkable 120% gain from its IPO price of ₹383, reflecting strong market confidence and investor enthusiasm for the company’s expansion.
The company recently opened two new centres in Bengaluru at Mantri Commerce and Vista Pixel, offering 39,000 sq. ft. and 27,846 sq. ft. of space, respectively. This expansion strengthens Awfis’ presence in prime locations, enhancing its portfolio of high-quality workspace solutions, according to the company’s latest exchange filing.
Since its IPO on May 30, 2024, Awfis Space Solutions has had a successful run, with its share price soaring from the issue price of ₹383 to ₹435 on NSE and ₹432.25 on BSE, marking a 13.58% and 12.86% increase respectively, on the first day of trading.
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Awfis has developed the nation’s largest co-working network, employing 1,12,038 people across 185 locations as of June 2024. The company’s asset-light Managed Aggregation (MA) model has helped maintain a strong focus on risk aversion and optimal return on investment, positioning it for sustained growth.
Looking ahead, Awfis plans to expand its footprint in India by adding 40,000 new seats in FY25, aiming for 135,000 seats by the end of the fiscal year. This aligns with the growing demand for flexible workspaces and supports Awfis’ continued market leadership.