Awfis Space Solutions IPO
Awfis Space Solutions IPO — date, price band, lot size & details 2024
Awfis Space Solutions listed on 30 May 2024 at ₹435, 13.6% above the ₹383 issue price.
Awfis Space Solutions is the largest flexible workspace company in India by number of centres, offering co-working and custom office spaces. It ran 169 centres in 16 cities on 31 December 2023.
Stock price
Awfis Space Solutions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 May 2024
- Close 27 May 2024
- Allotment 28 May 2024
- Refund/credit 29 May 2024
- Listing 30 May 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 27 May, 2024 |
|---|---|
| Price Band | ₹364 – ₹383 |
| Face Value | ₹10 |
| Lot Size | 39 Shares |
| Issue Size | ₹598.93 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 36.00 per share |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,937 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 39 shares at the ₹383 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 216.02 crore in FY2021 to Rs 565.79 crore in FY2023.
- 02Total income was Rs 633.69 crore in the nine months to 31 December 2023, above the full FY2023 figure.
- 03It ran 169 centres with 105,258 seats across 16 cities.
- 04Borrowing was low at Rs 23.72 crore on 31 December 2023.
- 05The loss narrowed from Rs 57.16 crore in FY2022 to Rs 18.94 crore in the nine months to 31 December 2023.
Risks · 5
- 01The company made losses in every period shown, including Rs 46.64 crore in FY2023.
- 02With losses, the P/E was negative, and the market value at Rs 383 was Rs 2,658.78 crore.
- 03Rs 470.87 crore of the Rs 598.93 crore issue was offer for sale.
- 04It leases most of its space, so rent commitments on its 5.33 million sq. ft. stay even if occupancy falls.
- 05Promoters held only 41.05% before the issue on a fully diluted basis, and Peak XV sold 6,615,586 shares in the offer.
Three years of numbers
All figures in ₹ crore, as reported in the Awfis Space Solutions offer document.
| Metric | 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 |
| Total Borrowing | 23.72 | 10.92 | 12.11 | 2.97 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Awfis Space Solutions RHP.
Where the money goes
₹117.03 Cr of the issue is earmarked to named objects.
About the company
It offers flexible workspaces from individual desks to custom office spaces for start-ups, SMEs, large corporates and multinationals, along with support services such as food and beverages, IT support and event hosting.
As of 31 December 2023 it operated 169 centres across 16 cities, with 105,258 seats and chargeable area of 5.33 million sq. ft. Its promoters are Amit Ramani and Peak XV.
The IPO was Rs 598.93 crore, with Rs 128.06 crore of fresh issue and Rs 470.87 crore of offer for sale by Peak XV and other investors. Rs 54.37 crore was planned for working capital and Rs 42.03 crore for new centres.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Awfis Space Solutions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Emkay Global Financial Services
8 issues handledBest listing: Behari Lal Engineering (+63.2%). Weakest: Innovision (-14.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Awfis Space Solutions?
The current Grey Market Premium is ₹95, or 25% over the issue price.
What is the Awfis Space Solutions IPO price band?
₹364 to ₹383, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 May 2024, with listing on 30 May 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
