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AWFIS Space Solutions Ltd IPO

AWFIS Space Solutions Limitedd is the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers. The Company provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office spaces for start-ups, small and medium enterprises as well as for large corporates and multi-national corporations.

AWFIS Space Solutions Ltd IPO Details

Total Shares Offered

₹ 1,56,37,736

Offer to Public

1,22,95,699

Retail Max (Shares)

₹ 15,58,552

Pre Issue Promoters Holding

₹ 2,74,44,403

Exchange

BSE

Issue size

₹ 598.93 Cr

IPO Open Date

May 22, 2024

Close Date

May 27, 2024

Lot Size

Min Investment

₹ 14,196

Issue Type

Book Building

Listing Date

May 30, 2024

AWFIS Space Solutions Ltd IPO Dates

May 22, 2024

Opening date

May 27, 2024

Closing date

May 28, 2024

Basis of Allotment

May 29, 2024

Initiation of Refunds

May 29, 2024

Credit of Shares

May 30, 2024

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	11689138
NII	0x	2337827
Retail	0x	1558552
Employee	0x	52219
Total	0x	15637736

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

11689138

2337827

1558552

52219

15637736

AWFIS Space Solutions Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	1,207.54	848.82	545.28
EBITDA	617.06	373.81	253.58
PAT	65.56	-18.05	-46.34
Total Assets	513.03	301.88	138.34
Share Capital	70.96	364.57	225.10
Total Borrowings	334.48	253.95	74.67
Operating Activities (Net Cash)	341.31	177.88	103.62
Investing Activities (Net Cash)	-16.05	-7.04	-0.12
Financing Activities (Net Cash)	334.48	253.95	74.67
Net Cashflow	81.05	4.45	17.79

About AWFIS Space Solutions Ltd

Awfis Space Solutions Limited was incorporated as `Awfis Space Solutions Private Limited' at Delhi, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 17, 2014, issued by the RoC. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of its Shareholders held on November 24, 2023 and the name of the Company was changed to `Awfis Space Solutions Limited' with a fresh certificate of incorporation dated December 5, 2023, issued to the Company by the RoC.

Since early 2000s, India's office real estate stock has grown more than 18 times from approximately 46 million sq. ft. as of pre-2003 to approximately 832.00 million sq. ft. as of December 31, 2023. Flexible office space has long been a viable solution for freelancers, remote workers and start-ups, and is rapidly gaining ground among large enterprises, corporates and MNCs. Total market size of flexible workspace segment has more than tripled in last three to four years and projected market size in tier-1 and tier-2 cities is projected to be approximately 105 million sq. ft. by 2026.

Peer Comparison:

No Listed Industry Peers

AWFIS Space Solutions Ltd Key Points

Strengths

Leadership in a large and growing marketplace.

Innovating in the flexible workspace industry with the adoption of its MA model.

Diverse space sourcing and demand strategies.

Growth through an integrated platform approach.

Delivering strong financial and operating metrics;

Risk

The company has a history of net losses, negative earnings per share (EPS) and return on net worth (RoNW). The company need to generate and sustain increased revenues while managing its expenses to achieve profitability, and its inability to achieve these goals may have an adverse effect on its business, results of operations, cash flows and financial condition.

The company has experienced negative cash flows in previous Fiscals and may continue to have negative cash flows in the future.

Its business has grown rapidly, including the company revenue from contract with customers that has grown at a CAGR of 74.85% from Rs.1,783.60 million in Fiscal 2021 to Rs.5,452.82 million in Fiscal 2023, and its may fail to manage its growth effectively.

Strategy

Continue to build an industry leading capital efficient model.

Expand in new and existing markets.

Enhance its product and service offerings.

Improving operational efficiency.

Its Flexible Workspace Solutions.

How To Apply for AWFIS Space Solutions Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the AWFIS Space Solutions Ltd IPO?

AWFIS Space Solutions Ltd's IPO offers shares for up to 128 It begins on May 22, 2024 and ends on May 27, 2024.

What is the price of the AWFIS Space Solutions Ltd IPO?

The price of AWFIS Space Solutions Ltd IPO ranges between ₹364 to ₹383 per share.

What are the open and close dates for the AWFIS Space Solutions Ltd IPO?

The AWFIS Space Solutions Ltd IPO opens on May 22, 2024 and closes on May 27, 2024.

When will the AWFIS Space Solutions Ltd IPO be allotted?

The allotment for the AWFIS Space Solutions Ltd IPO will be finalised on May 28, 2024. The shares will be listed on BSE and NSE on May 30, 2024.

What is the minimum lot size required for AWFIS Space Solutions Ltd IPO?

The minimum lot size for AWFIS Space Solutions Ltd IPO is 39 shares, priced between ₹364 to ₹383 per share.

What is the GMP of AWFIS Space Solutions Ltd IPO?

The GMP (Grey Market Premium) of AWFIS Space Solutions Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of AWFIS Space Solutions Ltd IPO?

To check the allotment status of AWFIS Space Solutions Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the AWFIS Space Solutions Ltd IPO getting listed?

The AWFIS Space Solutions Ltd IPO is getting listed on the BSE and NSE. Bidding opens on May 22, 2024, and closes on May 27, 2024. The allotment is finalised on May 28, 2024.

How do you apply for the AWFIS Space Solutions Ltd IPO?

To apply for the AWFIS Space Solutions Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.