Incorporated in December 2014, AWFIS Space Solution Limited provides working spaces in all tier 1 and tier 2 cities of India. The company’s network is spread across 16 cities and 48 micro markets. It is the largest flexible workspace solution based on the number of centres in India.
To enhance its market presence and business, this company is now planning to raise a total of Rs 598.72 crore via its Initial Public Offering. Bids for its IPO will commence on May 22, 2024, and last till May 27, 2024, within a price range of Rs. 364 to Rs. 383 per share.
Keep reading this blog for more details on AWFIS Space Solution Limited IPO.
Additional Read: AWFIS Space Solutions Ltd IPO
IPO Details
Here is a brief overview of AWFIS Space Solution Limited IPO.
IPO Launch Date
| May 22, 2024 to May 27, 2024
|
Issue Type
| Book Built IPO
|
Listed at
| BSE, NSE
|
Price Band
| Rs. 364 to Rs. 383 per share
|
Face value
| Rs. 10 per share
|
Minimum Lot Size
| 39 shares (retail investors)
|
Fresh Issue Size
| 33,42,037 shares
|
OFS Size
| 1,22,95,699 shares
|
Total Issue Size
| 1,56,37,736 shares (Rs. 598.93 crore)
|
Shareholding Pre-Issue
| 6,60,75,779
|
Shareholding Post-Issue
| 6,94,17,816
|
About the Company
AWFIS Space Solutions Limited is India's leading workspace solution company in terms of the total number of centres. The CBRE Report ranks this company 1st among 5 leading players in flexible workspace systems with a presence in 16 cities.
AWFIS Space Solutions Limited offers diversified and flexible workspace solutions, which range from individual desks to customised office spaces for SMEs and startups. Moreover, this company's solutions also include a varied range of seating arrangements from single to multiple seats. Interested clients can connect with AWFIS contractors regarding rental periods and seating arrangements.
Under its core solutions, this company brings forth co-working solutions like mobility solutions, customised office spaces, and flex workspaces, among many more. AWFIS also provides additional services like IT support, food and beverages, infrastructure services, meeting hosting, event arrangements, etc.
According to AWFIS Space Solutions Limited RHP, this company hosts a total of 169 centres across 16 Indian cities and 1,05,258 seats with a total chargeable area of 5.33 million sq. foot as of December 31, 2023. Furthermore, till December 2023, this company onboarded around 2,295 clients.
Regarding financial metrics, as in RHP, the total income of AWFIS Space Solutions Limited became Rs. 5,657.87 million for FY2023 from Rs. 2,160.20 million for FY 2021. However, this company faced a loss after tax for three consecutive years. The loss after tax for 2021 was Rs. 426.42 million in FY 2021 and Rs. 466.67 million in FY 2023.
Additional Read: How to Invest in an IPO Online
IPO Timeline
The following table outlines the important timeline of AWFIS Space Solution Limited IPO.
IPO Open Date
| Wednesday, May 22, 2024
|
IPO Close Date
| Monday, May 27, 2024
|
Basis of Allotment Date
| Tuesday, May 28, 2024
|
Initiation of Refunds Date
| Wednesday, May 29, 2024
|
Credit of Shares to Demat Date
| Wednesday, May 29, 2024
|
Listing Date
| Thursday, May 30, 2024
|
Cut-Off Time for UPI Mandate Confirmation
| 5 PM on May 27, 2024
|
Lot Size
To invest in the upcoming AWFIS Space Solutions Limited IPO, you must buy at least one lot of 39 shares as a retail investor. The following table shows the lot sizes for different investors:
Application
| Lots
| Shares
| Amount
|
Retail (Minimum)
| 1
| 39
| Rs. 14,937
|
Retail (Maximum)
| 13
| 507
| Rs. 1,94,181
|
S-HNI (Minimum)
| 14
| 546
| Rs. 2,09,118
|
S-HNI (Maximum)
| 66
| 2,574
| Rs. 9,85,842
|
B-HNI (Minimum)
| 67
| 2,613
| Rs. 10,00,779
|
Company Financials
Take a look at the financial summary of AWFIS Space Solutions Limited before prioritising to invest in its IPO.
Parameters
| For the Financial Year Ending (in Rupees Millions)
|
| March 31, 2023
| March 31, 2022
| March 31, 2021
|
Total Assets
| 9,306.05
| 5,596.88
| 5,085.81
|
Total Liabilities
| 7,612.41
| 4,649.67
| 3,578.28
|
Total Expenses
| 6,124.2
| 3,358.72
| 2,586.62
|
Total Revenue
| 5,657.87
| 2,787.16
| 2,160.20
|
Loss After Tax
| (466.37)
| (571.56)
| (426.42)
|
EBITDA
| 1,760.63
| 899.96
| 907.49
|
EPS (Basic and Diluted)
| (8.11)
| (10.68)
| (8.38)
|
Strengths
Here are a few noteworthy strengths of AWFIS Space Solution Limited that will help you decide whether this upcoming IPO is fit for your finances or not.
- The company holds a good position in the market as the largest and most flexible working space to capture the demand for workspaces in India.
- This company aims to achieve growth through an integrated platform approach. The AWFIS platform is capable of meeting the requirements of its diverse clientele branching through different seat cohorts, industries and demographics.
- AWFIS boasts a robust track record of delivering excellent financial and operating earnings from its contracts with customers.
- This company is led by an experienced and knowledgeable senior management team with a combined experience of 58 years.
Additional Read: Difference Between NFO and IPO
Risks Involved
Besides the above strengths, you must have an idea of risk factors that can hamper the business of AWFIS Space Solutions Limited.
- AWFIS Space Solutions Limited has a record of net losses and negative cash flow over the few previous years. Failure to generate sufficient revenue to manage its present and upcoming expenses might be harmful to its business, cash flow and continuing operations.
- Any kind of slowdown in the global economy or India’s economic growth or in the IT sector of India can hamper this company’s growth.
Summing Up
As the AWFIS Space Solutions IPO prepares for launch on May 22, 2024, all investors should review the company details carefully before devising an investment strategy. Like all equity and equity-related investments, the AWFIS Space Solution Limited IPO carries a certain degree of risk. Therefore, if you are a novice investor, consider seeking assistance from a financial expert for a sound investment strategy.
To learn more about such upcoming IPOs, feel free to explore our website. Open a demat account with us to apply for IPOs seamlessly using your UPI ID.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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Source: Tata Consumer Products Press Release on BSE