Awfis Space Solutions IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Awfis Space Solutions IPO. Explore Awfis Space Solutions IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.
Overview
Awfis Space Solutions Limited is India's largest flexible workspace solutions provider as of December 31, 2023, according to CBRE Report. The company operates 169 centers across 16 cities in India, offering 105,258 total seats with a chargeable area of 5.33 million sq. ft. Awfis has a diverse client base of over 2,295 clients and has presence in 52 micro-markets. Awfis provides a range of flexible workspace solutions tailored to the needs of various businesses, from startups and SMEs to large corporates and multinational corporations. Their services encompass co-working spaces, customized offices, and integrated solutions, including construction, fit-out, and facility management services.
Key Points:
- Market Leadership: Awfis is ranked 1st among the top 5 benchmarked players in the flexible workspace segment in India, with a presence in 16 cities as of December 31, 2023 (Source: CBRE Report).
- Expansive Network: Awfis operates 169 total centers, with 105,258 total seats, and a total chargeable area of 5.33 million sq. ft. Of these, 31 centers and 25,312 seats are under fit-out, covering a chargeable area of 1.23 million sq. ft. Additionally, the company has signed letters of intent (LOI) for 13 more centers, adding 10,859 seats and 0.55 million sq. ft.
- Client Base: Awfis serves over 2,295 clients and has a presence in 52 micro-markets across India.
- Workspace Solutions: Awfis provides a broad range of flexible workspace solutions from individual desks to customized office spaces catering to startups, SMEs, large corporations, and MNCs. Solutions range from hourly rentals to long-term contracts.
- Integrated Services: Beyond co-working spaces, Awfis offers Awfis Transform (construction and fit-out services) and Awfis Care (facility management). They also provide various allied services, including food and beverage, IT support, infrastructure services, event hosting, and meeting arrangements.
Objects of the Issue
- Funding capital expenditure towards establishment of new centers
- Funding the working capital requirements
- General corporate purposes
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 22 May - 27 May 2024 |
| IPO Price Band | ₹ 364 – 383 per share |
| Fresh Issue | Aggregating up to ₹ 128 crore |
| Offer For Sale | Up to 12,295,699 shares (Approx ₹ 470.93 crore ) |
| Total IPO Size | Approx ₹ 598.93 crore |
| Face Value | ₹ 10 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 22 May 2024 |
| IPO Closing Date | 27 May 2024 |
| Basis Of Allotment | 28 May 2024 |
| Refunds | 29 May 2024 |
| Demat Transfer | 29 May 2024 |
| IPO Listing Date | 30 May 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| Total Income | 216.02 | 278.72 | 565.79 | 633.69 |
| Total Expenses | 258.67 | 335.87 | 612.42 | 652.64 |
| Net Profit/Loss | -42.64 | -57.16 | -46.63 | -18.94 |
| NPM (*) | -19.74 | -20.51 | -8.24 | -2.99 |
| Total Assets | 508.58 | 559.69 | 930.61 | 1,352.25 |
| Total Liabilities | 357.83 | 464.97 | 761.24 | 1,105.06 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| EPS | -8.38 | -10.68 | -8.11 | -3.05 |
| ROE (%) | Negative | Negative | Negative | Negative |
| ROCE (%) | 10.88 | 1.75 | 25.26 | 49.91 |
| D/E Ratio | 0.02 | 0.13 | 0.06 | 0.10 |
| Current Ratio | 1.38 | 0.57 | 0.49 | 0.66 |
| EBITDA MARGIN (%) | 42.01 | 32.29 | 31.12 | 30.85 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Awfis | 545.3 | -47.23 | -8.11 | -27.54 | 56.20 |
| WEWORK | 1,314.5 | NA | NA | NA | NA |
| COWRKS | 283.6 | NA | NA | NA | NA |
| SMARTWORKS | 711.4 | NA | NA | NA | NA |
| TABLESPACE | 678.4 | NA | NA | NA | NA |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 116.95 |
| Non-Institutional Investor (NII) | 129.27 |
| Retail Individual Investor (RII) | 53.23 |
| Total | 108.17 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
Bigshare Services Private Limited
Phone: +91 22-62638200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Company Promoters
- AMIT RAMANI
- PEAK XV PARTNERS INVESTMENTS V (FORMERLY KNOWN AS SCI INVESTMENTS V)
Lead Managers
- ICICI Securities Limited
- Axis Capital Limited
- IIFL Securities Limited
- Emkay Global Financial Services Limited
Company Address
Awfis Space Solutions Limited
C-28-29, Kissan Bhawan, Qutab Institutional Area, New Delhi 110 016, India
Phone: +91 11 4106 1878
Email: cs.corp@awfis.com
Website: www.awfis.com
FAQs
- What is the issue size of the Awfis Space Solutions IPO?The Awfis Space Solutions IPO has an issue size of Approx ₹ 598.93 crore. This includes a fresh issue of Aggregating up to ₹ 128 crore and an offer for sale (OFS) of Up to 12,295,699 shares (Approx ₹ 470.93 crore ).
- What is the price band of the Awfis Space Solutions IPO?The price band for the Awfis Space Solutions IPO is ₹ 364 – 383 per share.
- What are the bidding dates for the Awfis Space Solutions IPO?The Awfis Space Solutions IPO will open for bidding on 22 May 2024 and close on 27 May 2024.
- What is the allotment date for the Awfis Space Solutions IPO?The allotment date for the Awfis Space Solutions IPO is 28 May 2024.
- What is the listing date for the Awfis Space Solutions IPO?The listing date for the Awfis Space Solutions IPO is 30 May 2024.
- What is the Awfis Space Solutions IPO grey market premium?The grey market premium (GMP) for the Awfis Space Solutions IPO is currently at ₹84, with an expected listing gain of approximately 21.93%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.