Awfis Space Solutions Limited – Globe Capital Market LTD.
Awfis Space Solutions Limited
Closed
Price Band
₹364 to ₹383
IPO Issue Period
May 22, 2024 to May 27, 2024
Issue Size
₹598.93 Cr
Face value
₹10 per share
Fresh issue
₹128.00 Cr
Offer for sale
₹470.93 Cr
Minimum Shares for Retail
39 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
May 30, 2024
QIB
75%
NII
15%
Retail
10%

ICICI Securities Limited
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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. It 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.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 565.79 278.72 216.02
Profit After Tax -46.64 -57.16 -42.64
EPS (8.11) (10.68) (8.38)
OPM (%) 31% 32% 42%
PATM (%) (8%) (21%) (20%)

 

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY23
Net Profits(Cr.)
FY23

 

*Market cap @upper band 

  • The Company enjoys Leadership in a large and growing marketplace;
  • Innovating in the flexible workspace industry with the adoption of our MA model;
  • Diverse space sourcing and demand strategies;
  • Growth through an integrated platform approach and
  • Its experienced and diverse senior management team.
  • Funding capital expenditure towards the establishment of new centers,
  • Funding the working capital requirements and
  • General corporate purposes.

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. Hence, Investor may subscribe for long term perspective.

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