Awfis Space Solutions Limited is planning an IPO worth INR 598.93 crores, consisting of a fresh issue of shares worth INR 128 crores and an offer to sell its existing shares for INR 470.93 crores. The company will utilize the funds for new centers, working capital, and general corporate purposes.
Awfis Space Solutions Limited IPO – Important Dates
| Awfis Space Solutions Limited IPO Date | May 22, 2024 to May 27, 2024 |
| Awfis Space Solutions Limited IPO Listing Date | May 30, 2024 |
| Awfis Space Solutions Limited IPO Price | INR 364-383 per share |
| Awfis Space Solutions Limited IPO Lot Size | 39 Shares |
| Awfis Space Solutions Limited IPO Total Issue Size | INR 598.93 crores |
| Awfis Space Solutions Limited IPO Basis of Allotment | May 28, 2024 |
| Awfis Space Solutions Limited IPO Initiation of Refunds | May 29, 2024 |
| Awfis Space Solutions Limited IPO Credit of Shares to Demat | May 29, 2024 |
| Awfis Space Solutions Limited IPO Issue Type | Book Built Issue IPO |
| Awfis Space Solutions Limited IPO Listing At | BSE, NSE |
Awfis Space Solutions IPO – Company Profile
Awfis Space Solutions Limited, India’s largest flexible workspace provider as of December 31, 2023, operates 169 centers across 16 cities, totaling 105,258 seats and 5.33 million sq. ft., with plans for 13 additional centers.
They provide flexible workspace solutions, from individual desks to customized offices for startups, SMEs, large corporates, and MNCs. Their offerings include Awfis Transform and Awfis Care, alongside various allied services.
Understanding the modern workforce has enabled them to anticipate evolving preferences and provide bespoke solutions. They meet the diverse needs of their clients across various demographics with tailored, flexible workspace options and comprehensive service offerings.
Awfis Space Solutions IPO Fundamental Analysis
Awfis Space Solutions Limited’s financial analysis reveals a mixed performance. Revenue has significantly increased, reflecting substantial growth. Profitability and earnings per share have improved, debt reliance has decreased, and the company’s financial position and returns on equity have strengthened.
- Revenue Trend: The revenue increased from ₹2,570.45 millions in March 2022 to ₹5,452.82 millions in March 2023. The revenue for the current year 9-month ending December 2023 is INR 6,164.99 millions.
- Equity and Liabilities: Both equity and total liabilities have shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has decreased, indicating reduced reliance on debt financing.
- Profitability: The profit after tax (PAT) has increased from ₹(571.56) millions in March 2022 to ₹(189.42) millions by December 2023. This improvement in profitability could be a source of confidence for investors.
- Earnings per Share (EPS): The diluted EPS has also increased from ₹(10.68) in March 2022 to ₹(3.05) by December 2023, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has increased from (60.34)% to (7.66)%, indicating an increase in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth.
Awfis Space Solutions Ltd IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 December 2023 |
| Revenue (₹ in millions) | 2,570.45 | 5,452.82 | 6,164.99 |
| Equity (₹ in millions) | 947.21 | 1,693.64 | 2,471.85 |
| Expenses (₹ in millions) | 3,358.72 | 6,124.24 | 6,526.36 |
| Profit and Loss After Tax (₹ in millions) | (571.56) | (466.37) | (189.42) |
| RoNW (%) | (60.34) | (27.54) | (7.66) |
| NAV per Equity Share (₹) | 31.43 | 56.20 | 123.86 |
| Diluted EPS only (₹) | (10.68) | (8.11) | (3.05) |
| Total Assets (in millions) | 5,596.88 | 9,306.05 | 13,522.45 |
| Total Liabilities (in millions) | 4,649.67 | 7,612.41 | 11,050.6 |
| Debt Equity Ratio (in times) | 0.13 | 0.06 | 0.10 |
Awfis Space Solutions Ltd IPO Competitor Analysis
Awfis Space Solutions Limited believes that, with their adoption of the MA model, no listed entities of comparable size and business models in India or abroad are similar to their business.
Awfis Space Solutions IPO Objective
The main objective of Awfis Space Solutions Limited is to fund capital expenditures for the establishment of new centers and their working capital requirements.
- Funding capital expenditure towards establishing new centers: The company intends to utilize INR 42.03 crores from Net Proceeds in Fiscal 2025 to establish 12 new centers across major Indian cities, supporting growth by expanding from 138 to 183 operational centers.
- Funding their working capital requirements: The company aims to utilize INR 54.37 crores from Net Proceeds to bolster working capital in Fiscal Year 2025, adapting to the changing revenue mix and ensuring operational stability.
- General corporate purposes: The company plans to deploy the balance of the funds for general corporate purposes, including meeting ongoing general corporate expenses, exigencies and contingencies, and capital expenditures, i.e., costs/expenses related to meeting certain business requirements.
Awfis Space Solutions Ltd IPO Risks
Awfis Space Solutions Limited’s risk includes historical losses, reliance on revenue from flexible workspaces vulnerable to economic conditions, and fluctuations due to client agreements, which could potentially challenge business sustainability and growth.
- The company’s financial history includes net losses, negative EPS, and RoNW. To achieve profitability, it’s crucial to boost revenues while controlling expenses. Failure could adversely affect business, operations, and financial health.
- Economic conditions greatly influence the demand for their services. Economic slowdowns may decrease demand for flexible workspaces, impacting revenue, seat occupancy, and new client acquisition and potentially affecting business stability and growth prospects.
- Their revenue, mainly from flexible workspace solutions, fluctuates with client agreements. Terminations, closures, and market factors like competition and economic conditions can impact revenue growth, posing challenges to business sustainability.
Awfis Space Solutions IPO – Industry & Market Potential
The Indian office market historically grew at a robust 6.8% CAGR, with expectations for continued growth at 6.3% from 2023 to 2026. Demand is set to increase, propelled by both domestic and global occupiers.
The APAC region, including India, demonstrates substantial market potential in the flexible office sector, propelled by robust growth rates, increasing demand from key industries, and notable penetration rates in prominent cities.
Tier 2 cities in India show promising potential for flexible workspace growth, driven by factors like cost reduction, proximity to staff, technology expansion, regional office setup, and SME demand. The expected supply will reach 8.5-9 million sq. ft. by 2026.
Awfis Space Solutions Ltd IPO – Type of Offer
Awfis Space Solutions Limited includes a fresh issue worth INR 128 crores and an offer to sell existing shares worth INR 470.93 crore shares by the existing shareholders.
- Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 128 crores. The company plans to utilize it to fund for new centers, working capital, and general corporate purposes.
- Offer for sale: Awfis Space Solutions Limited is offering to sell existing shares worth 470.93 crore . The following are the details of the existing shareholder who is also the promoter selling the shares:
| Name of the promoter selling shareholder | Maximum number of offered shares for sale |
| Peak XV Partners Investments V | 6,615,586 |
Awfis Space Solutions IPO Offer Size
The offer size of Awfis Space Solutions Limited is INR 598.93 crores, consisting of a fresh issue of 128 crores and an offer to sell existing shares worth INR 470.93 crore shares. The company seeks funds for new centers, working capital, and general corporate purposes.
Awfis Space Solutions Ltd IPO Allotment Structure
The offer size of Rulka Electrical Limited is INR 26.40 crores, consisting of a fresh issue of 19.80 crores and an offer to sell existing shares worth INR 6.60 crore shares. The company seeks funds to meet the working capital requirements.
Awfis Space Solutions Limited IPO Allotment Structure
Awfis Space Solutions Limited’s allocation will be as follows: 75% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 10% for Retail Individual Investors (RII) according to SEBI regulations. A certain portion of shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 75% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 10% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares are reserved for marker makers.
How to apply for an Awfis Space Solutions Limited IPO?
To apply for the Awfis Space Solutions Limited IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Awfis Space Solutions Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Awfis Space Solutions Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Awfis Space Solutions Limited’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Awfis Space Solutions Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Awfis Space Solutions Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Awfis Space Solutions Limited IPO:
● Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Awfis Space Solutions Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE and NSE: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Awfis Space Solutions Limited Ltd IPO Offer Registrar
The registrar for the Awfis Space Solutions Limited IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
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
Tel No: 022 – 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
Awfis Space Solutions Limited Limited IPO – FAQs
The allotment date of the Awfis Space Solutions Limited IPO is May 28, 2024.
The price band of the issue is INR 364-383 per share.
The offer size of Awfis Space Solutions Limited is INR 598.93 crores, consisting of a fresh issue of 128 crores and an offer to sell existing shares worth INR 470.93 crore shares. The company seeks funds for new centers, working capital, and general corporate purposes.
The listing date of Awfis Space Solutions Limited’s IPO is May 30, 2024.
