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Awfis Space Solutions IPO is a book build issue of ₹598.93 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹128.06 crores and offer for sale of 1.23 crore shares aggregating to ₹470.87 crores.
Awfis Space Solutions IPO bidding started from May 22, 2024 and ended on May 27, 2024. The allotment for Awfis Space Solutions IPO was finalized on May 28, 2024. The shares got listed on BSE, NSE on May 30, 2024.
Awfis Space Solutions IPO price band is set at ₹383.00 per share . The lot size for an application is 39. The minimum amount of investment required by an retail is ₹14,196 (39 shares). The lot size investment for sNII is 14 lots (546 shares), amounting to ₹2,09,118, and for bNII, it is 67 lots (2,613 shares), amounting to ₹10,00,779.
The issue includes a reservation of up to 57,636 shares for employees offered at a discount of ₹36.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Awfis Space Solutions IPO RHP for detailed Information.
| IPO Date | May 22, 2024 to May 27, 2024 |
| Listing Date | May 30, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹364 to ₹383 per share |
| Issue Price Final | ₹383 per share |
| Lot Size | 39 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,56,39,638 shares (aggregating up to ₹598.93 Cr) |
| Fresh Issue | 33,43,939 shares (aggregating up to ₹128.06 Cr) |
| Offer for Sale | 1,22,95,699 shares of ₹10 (aggregating up to ₹470.87 Cr) |
| Employee Discount | ₹36.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,60,75,779 shares |
| Share Holding Post Issue | 6,94,17,816 shares |
Awfis Space Solutions IPO offers total 1,56,43,153 shares. Out of which 1,16,89,139 (74.72%) allocated to QIB, 46,75,656 (29.89%) allocated to QIB, 23,37,827 (14.94%) allocated to NII, 15,58,551 (9.96%) allocated to RII and 70,13,483 (44.83%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,16,89,139 (74.72%) | NA |
| − Anchor Investor Shares Offered | 70,13,483 (44.83%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 46,75,656 (29.89%) | NA |
| NII (HNI) Shares Offered | 23,37,827 (14.94%) | NA |
| − bNII > ₹10L | 15,58,552 (9.96%) | 2,854 |
| − sNII < ₹10L | 7,79,275 (4.98%) | 1,427 |
| Retail Shares Offered | 15,58,551 (9.96%) | 39,962 |
| Employee Shares Offered | 57,636 (0.37%) | NA |
| Total Shares Offered | 1,56,43,153 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Awfis Space Solutions IPO raises ₹268.62 crore from anchor investors. Awfis Space Solutions IPO Anchor bid date is May 21, 2024. Awfis Space Solutions IPO Anchor Investors list
| Bid Date | May 21, 2024 |
| Shares Offered | 70,13,483 |
| Anchor Portion Size (In Cr.) | 268.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 27, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 26, 2024 |
Awfis Space Solutions IPO opens on May 22, 2024, and closes on May 27, 2024.
| IPO Open Date | Wed, May 22, 2024 |
| IPO Close Date | Mon, May 27, 2024 |
| Tentative Allotment | Tue, May 28, 2024 |
| Initiation of Refunds | Wed, May 29, 2024 |
| Credit of Shares to Demat | Wed, May 29, 2024 |
| Tentative Listing Date | Thu, May 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, May 27, 2024 |
Investors can bid for a minimum of 39 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 39 | ₹14,937 |
| Retail (Max) | 13 | 507 | ₹1,94,181 |
| S-HNI (Min) | 14 | 546 | ₹2,09,118 |
| S-HNI (Max) | 66 | 2,574 | ₹9,85,842 |
| B-HNI (Min) | 67 | 2,613 | ₹10,00,779 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in December 2014, Awfis Space Solutions Limited is a workspace solution provider in India.
The company offers a wide range of flexible workspace solutions, catering to the needs of individuals, start-ups, SMEs, and large corporations.
The company's core solution is co-working, including flexible workspaces, custom office spaces, and mobility solutions. Awfis Space Solutions Limited also provide supporting services such as food and beverages, IT support, infrastructure services, and event hosting.
As of December 31, 2023, the company operates 169 centers across 16 cities in India, with a total of 105,258 seats and a chargeable area of 5.33 million sq. ft. Additionally, 31 centers with 25,312 seats are currently under fit-out, with a chargeable area totaling 1.23 million sq. ft.
The company has expanded its business offerings and now provides in-house fit-out and facility management services at its centers.
As of December 31, 2023, 81.66% of the company's centers are commercial assets, and 18.34% are alternate assets.
As of December 31, 2023, the company has a team of over 100 employees with a background in hospitality servicing the needs of every client.
The company has a team of 63 designers and project managers to enhance the industry experience.
Awfis Space Solutions Limited's revenue increased by 103% and profit after tax (PAT) rose by 18.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,352.25 | 930.61 | 559.69 | 508.58 |
| Total Income | 633.69 | 565.79 | 278.72 | 216.02 |
| Profit After Tax | -18.94 | -46.64 | -57.16 | -42.64 |
| Net Worth | 247.19 | 169.36 | 94.72 | 150.75 |
| Reserves and Surplus | -265.56 | -204.30 | -223.37 | -167.12 |
| Total Borrowing | 23.72 | 10.92 | 12.11 | 2.97 |
| Amount in ₹ Crore | ||||
The market capitalization of Awfis Space Solutions IPO is ₹2658.70 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 37.43% |
| Debt/Equity | 0.10 |
| RoNW | -7.66% |
| Price to Book Value | 9.63 |
The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the "Objects"):.
[Dilip Davda] The company is an emerging leader in India for flexible workspace solutions and providing all related services under one roof. While it has marked steady growth in its top line, its bottom line marked declining losses. Since it posted losses for the reported periods, the issue is at a negative P/E. This is a pure long term play bet and well-informed/cash surplus investors may park funds. Read detail review...
| Listing Date | May 30, 2024 |
| BSE Script Code | 544181 |
| NSE Symbol | AWFIS |
| ISIN | INE108V01019 |
| Final Issue Price | ₹383 per share |
| BSE Listing Group | B |
Awfis Space Solutions Ltd.
C-28-29,
Kissan Bhawan
Qutab Institutional Area
New Delhi, New Delhi, 110016
Phone: +91 1141061878
Email: cs.corp@awfis.com
Website: https://www.awfis.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Awfis Space Solutions IPO is a main-board IPO of 1,56,39,638 equity shares of the face value of ₹10 aggregating up to ₹598.93 Crores. The issue is priced at ₹383 per share. The minimum order quantity is 39.
The IPO opens on May 22, 2024, and closes on May 27, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Awfis Space Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Awfis Space Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Awfis Space Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Awfis Space Solutions IPO opens on May 22, 2024 and closes on May 27, 2024.
Awfis Space Solutions IPO lot size is 39, and the minimum amount required for application is ₹14,937.
You can apply in Awfis Space Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Awfis Space Solutions IPO will be done on Tuesday, May 28, 2024, and the allotted shares will be credited to your demat account by Wednesday, May 29, 2024. Check the Awfis Space Solutions IPO allotment status.
The Awfis Space Solutions IPO listing date is on Thursday, May 30, 2024.
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