Awfis Space Solutions Limited IPO Opens On May 22. Check IPO Details Issue Date Price.


Awfis Space Solutions Limited IPO Opens On May 22. Check IPO Details Issue Date Price.

May 17, 2024
Awfis Space Solutions Limited IPO Opens On May 22. Check IPO Details Issue Date Price.

Awfis Space Solutions Limited is coming out with a public issue to raise Rs 598.93 crores from the market.

Below are the details of the Awfis Space Solutions Limited IPO:

  • Issue opens – May 22 (Wednesday)
  • Issue closes – May 27 (Monday)
  • Issue size – Rs 598.93 crores
  • Price band – Rs 364 to 383 per equity share
  • Bid lot – 39 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

  • Awfis Space Solutions Limited are the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers. (Source: CBRE Report) As on December 31, 2023, they are ranked 1st among the top 5 benchmarked players in the flexible workspace segment with presence in 16 cities in India. (Source: CBRE Report) Further, as on December 31, 2023, they are present in the maximum number of micro-markets in India. (Source: CBRE Report) As on December 31, 2023, they have 169 total centers across 16 total cities in India, with 105,258 total seats and total chargeable area of 5.33 million sq. ft., of which 31 centers and 25,312 seats are under fit- out with chargeable area aggregating to 1.23 million sq. ft. In addition, they have entered into signed letters of intent (“LOI”) with space owners for 13 additional centers, with 10,859 seats aggregating to 0.55 million sq. ft. As on December 31, 2023, they have over 2,295 clients and have presence in 52 micro markets in India.
  • They provide a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customized office spaces for start-ups, small and medium enterprises (“SMEs”) as well as for large corporates and multi-national corporations. Their flexible workspace solutions cater to varied seat cohorts ranging from a single seat to multiple seats, which can be contracted by their clients for a period ranging from one hour to several years. Over time, they have evolved from a co-working space to an integrated workspace solutions platform. While their core solution is co-working solutions which includes flex workspaces, customized office spaces and mobility solutions, they have built capabilities to design, build, maintain and manage a wide range of flexible workspace requirements such as Awfis Transform (their construction and fit-out services business segment) and Awfis Care (their facility management services business segment). They also provide allied services ranging from food and beverages, information technology support services and infrastructure services such as storage and customization to event hosting and meeting arrangements.

Issue Size: Rs. 598.93 crores

Employee Reservation: 57,636 Equity Shares aggregating up to Rs.2/- crs

Employee Discount: Rs. 36 Per Share

Issue break-up:

  • QIB – 75% of the net offer – Rs 447.69 crores
  • NIB – 15% of the net offer – Rs 89.54 crores
  • RET – 10% of the net offer – Rs 59.69 crores

Listing: BSE and NSE

Registrar: Bigshare Services Private Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Monday, May 27, 2024

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