Awfis Space Solutions IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: When will Awfis Space Solutions Limited's IPO open for subscription?

The IPO subscription window will open on May 22, 2024 .

IPO Details

Bidding Dates

21 May '24 - 26 May '24

Minimum Investment

₹14,937 / 1 Lot ( 13 Shares )

Price Range

₹364 - ₹383

Maximum Investment

₹1,94,181 / 1 Lot ( 507 Shares )

Retail Discount

Not Applicable

Issue Size

₹598.93 Cr

Investor category and sub category

Retail Individual Investors | Non-Institutional Investors | Qualified Institutional Buyers (QIB) |

Awfis Space IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 21, 2024

IPO Closing Date

May 26, 2024

Basis of Allotment

May 27, 2024

Initiation of Refunds

May 28, 2024

Credit of Shares to Demat

May 28, 2024

IPO Listing Date

May 29, 2024

Cut-off time for UPI mandate confirmation

May 29, 2024

IPO Subscription Details

Date	QIB	NII	Retail	EMP	Total
Day 1May 21, 2024	0.30x	2.78x	6.19x	3.61x	2.06x
Day 2May 22, 2024	0.32x	6.84x	12.35x	6.87x	4.30x
Day 3May 23, 2024	3.39x	21.02x	21.18x	10.48x	11.43x

Awfis Space IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	3.39
Non-Institutional Buyers	21.02
Retail Investors	21.18
Employees	10.48
Total	11.43

About Awfis Space Solutions Limited

Incorporated in December 2014, Awfis Space Solutions Limited is a leading workspace solution provider in India, offering a comprehensive range of flexible workspace solutions to cater to the needs of individuals, start-ups, SMEs, and large corporations.

The company's core offerings include co-working spaces, custom office solutions, and mobility services. Awfis also provides essential supporting services such as food and beverages, IT support, infrastructure services, and event hosting.

As of December 31, 2023, Awfis operates 169 centres across 16 cities in India, boasting a total of 105,258 seats within a chargeable area of 5.33 million square feet. An additional 31 centres, comprising 25,312 seats and a chargeable area of 1.23 million square feet, are currently under fit-out. The company's portfolio includes commercial assets (81.66%) and alternate assets (18.34%).

Awfis has diversified its business offerings to include in-house fit-out and facility management services. With a dedicated team of over 100 employees from hospitality backgrounds and 63 designers and project managers, Awfis is committed to delivering an exceptional workspace experience for every client.

Industry Outlook:

India's office market, growing at a 6.3% CAGR (2023-2026), benefits from rising domestic occupier interest and strong global demand.
Office stock surged 18x, from 46 million sq. ft. (pre-2003) to 832 million sq. ft. (2023), reflecting robust real estate investment.

Awfis Space IPO Details

Awfis Space IPO Dates

Awfis Space Solutions IPO is open from May 22, 2024, to May 27, 2024. The IPO will be listed on BSE and NSE.

Awfis Space Solutions IPO Price Band

Awfis Space Solutions is a book built issue IPO. The price band is set at ₹364 to ₹383 per share.

Awfis Space Solutions IPO Lot Size

The lot size for Awfis Space Solutions Limited’s IPO is 39 shares with a minimum investment of ₹14,937.

Awfis Space Solutions Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Funding capital expenditure towards the establishment of new centres;
Funding our working capital requirements and
General corporate purposes.

Peer Details

There are no listed companies in India or abroad engaged in developing a similar line of product solutions to those of Awfis Space Solutions Limited.

How To Check the Awfis Space Solutions Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Awfis Space Solutions Limited IPO

Registered office: C-28-29, Kissan Bhawan, Qutab Institutional Area, New Delhi 110 016, India.
Phone: +91 11 4106 1878
E-mail: cs.corp@awfis.com

IPO Financials

Particulars	9-Month period Ending on December 31, 2023	Year ending on March 31, 2023	Year ending on March 31, 2022	Year ending on March 31, 2021
Revenue from Operations (in ₹ million)	6,336.94	5,657.87	2,787.16	2,160.20
Profit After Tax (PAT) (in ₹ million)	(192.54)	(466.67)	(573.67)	(427.01)
Cash & Cash Equivalents (in ₹ million)	59.81	(26.93)	(43.79)	30.19
Net Worth	1,693.64	947.21	1,507.53
Net Worth (in ₹ million)	2,471.85	1,693.64	947.21	1,507.53
Debt to Equity Ratio(x)	0.10	0.06	0.13	0.02
Return on Capital Employed (RoCE) (%)	49.91%	25.26%	1.75%	10.88%
Diluted Earning Per Share (EPS)-in absolute ₹	(3.05)	(8.11)	(10.68)	(8.38)

Know before investing

Strengths

Awfis leads India's flexible workspace market, with 169 centers across 16 cities and 105,258 seats as of December 31, 2023.
Awfis's revenue grew at a CAGR of 74.85% from ₹1,783.60 million (2021) to ₹5,452.82 million (2023), showcasing robust financial performance.
The MA model covers 66.43% of Awfis's seats, reducing capital expenditure per seat to ₹50,000, significantly lower than competitors' ₹80,000-₹200,000.
Awfis holds the largest flexible workspace footprint in Tier 2 cities among top operators, enhancing regional economic development and workspace standards.

Risks

Awfis has a history of net losses, with a restated loss of ₹466.37 million and negative EPS of ₹8.11 in Fiscal 2023.
Awfis experienced negative cash flows from investing activities, with a net cash outflow of ₹1,701.07 million in Fiscal 2023.
Awfis's rapid growth, with operational seats increasing from 30,253 (2021) to 79,946 (2023), may strain financial and operational resources.
Awfis's business is vulnerable to macroeconomic fluctuations. With 46.26% of clients in the IT sector, the company heavily influences demand for flexible workspaces.