Bookbuilding IPO | ₹599 Cr | Listed at BSE, NSE | Wed, May 22, 2024 - Mon, May 27, 2024
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 per share. The lot size for an application is 39. The minimum amount of investment required by an retail is ₹14,937 (39 shares) (based on upper price). 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 Open
Wed, May 22, 2024
IPO Close
Mon, May 27, 2024
Issue Price
₹383 per share
Market Cap (Pre-IPO)
₹2,658.70 Cr
| IPO Date | 22 to 27 May, 2024 |
| Listed on | Thu, May 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹364 to ₹383 |
| Issue Price | ₹383 per share |
| Lot Size | 39 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹36.00 |
| Total Issue Size | 1,56,39,638 shares (agg. up to ₹599 Cr) |
| Fresh Issue | 33,43,939 shares (agg. up to ₹128 Cr) |
| Offer for Sale | 1,22,95,699 shares of ₹10 (agg. up to ₹471 Cr) |
| Share Holding Pre Issue | 6,60,75,779 shares |
| Share Holding Post Issue | 6,94,17,816 shares |
| BSE Script Code / NSE Symbol | 544181 / AWFIS |
| ISIN | INE108V01019 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 39 shares and in multiples thereof.
| 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 |
Awfis Space Solutions IPO raises ₹268.62 crore from anchor investors. Awfis Space Solutions IPO Anchor bid date is May 21, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, May 21, 2024 |
| Shares Offered | 70,13,483 |
| Anchor Portion (₹ Cr.) | 268.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jun 27, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Aug 26, 2024 |
| 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 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards establishment of new centers | 42.03 |
| 2 | Funding Working Capital Requirement of the Company | 54.37 |
| 3 | General Corporate Purposes | 20.63 |
| KPI | Dec 31, 2023 |
|---|---|
| ROCE | 37.43% |
| Debt/Equity | 0.10 |
| RoNW | -7.66% |
| PAT Margin | -2.99% |
| Price to Book Value | 9.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 41.05% | |
| Market Cap | ₹2,658.70 Cr. |
The Awfis Space Solutions IPO is subscribed 108.17 times on May 27, 2024 6:19:05 PM (Day 4). The public issue subscribed 53.23 times in the retail category, 116.95 times in the QIB category, and 129.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 116.95 | 46,75,656 | 54,68,35,497 |
| NII | 129.27 | 23,37,827 | 30,22,20,906 |
| bNII (bids above ₹10L) | 138.15 | 15,58,552 | 21,53,07,651 |
| sNII (bids below ₹10L) | 111.53 | 7,79,275 | 8,69,13,255 |
| Retail | 53.23 | 15,58,551 | 8,29,56,939 |
| Employee | 24.68 | 57,636 | 14,22,174 |
| Total | 108.17 | 86,29,670 | 93,34,35,516 |
Total Application : 20,74,288
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers and commissions (including underwriting commission, brokerage and selling commission) | 21.50 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids procured by the members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Banks for Bids made by RIBs. Selling commission and uploading charges payable to members of the Syndicate (including their Sub-Syndicate Members), RTAs, CDPs and Registered Brokers | 1.62 |
| 3 | Processing fees payable to the Sponsor Banks | 0.46 |
| 4 | Fees payable to Registrar to the Offer | 0.29 |
| 5 | Printing and stationery expenses | 1.10 |
| 6 | Advertising and marketing expenses | 2.13 |
| 7 | Listing fees, SEBI fees, BSE and NSE processing fees, book-building software fees, and other regulatory expenses | 4.00 |
| 8 | Fees payable to legal counsel | 9.08 |
| 9 | Other expenses - Insurance, Industry report by Redseer etc, depository charges, Other professional fee | 10.81 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹383.00 | ₹383.00 |
| Open | ₹432.25 | ₹435.00 |
| Low | ₹409.40 | ₹415.20 |
| High | ₹451.45 | ₹451.45 |
| Last Trade | ₹419.10 | ₹421.75 |
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 ₹599 Crores. The issue is priced at ₹383 per share. The minimum order quantity is 39.
The IPO opens on Wed, May 22, 2024, and closes on Mon, 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 Wed, May 22, 2024 and closes on Mon, 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 Wed, May 29, 2024. Check the Awfis Space Solutions IPO allotment status.
The Awfis Space Solutions IPO listing date is on Thu, May 30, 2024.
