Awfis Space Gets SEBI Nod For IPO Launch
Awfis Space Solutions Limited, largest flexible workspace solutions company in India, based on the total number of centers, according to a CBRE Report, gets market regulator Securities and Exchange Board of India (“SEBI”) nod for IPO launch. The company had filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”) in December 2023. The Company’s initial public offering comprises a fresh issue of up to ?1600 million and an offer for sale of equity shares of up to 10,023,172 equity shares. The offer for sale comprising up to 5,011,586 equity shares by Peak XV Partners Investments V (formerly known as SCI Investments v) (“Peak XV” or the “promoter selling shareholder”), up to 4,936,412 equity shares aggregating by Bisque Limited and up to 75,174 equity shares by Link Investment Trust. The company proposes to utilize the Net Proceeds from the offer towards Funding capital expenditure towards establishment of new centres, funding for the working capital requirements, and general corporate purposes. ICICI Securities Limited, Axis Capital Limited, IIFL Securities, Emkay Global Financial Services Limited are the Book Running Lead Managers to the issue. Awfis offers a comprehensive range of flexible workspace solutions, catering to diverse needs, from individual flexible desk requirements to customized office spaces for start-ups, SMEs, and large corporations. The company's flexible workspace solutions cover various seat cohorts, ranging from a single seat to multiple seats, available for clients to contract for durations spanning one hour to several years. Evolving from a co-working space, Awfis has transformed into an integrated workspace solutions platform, with its core offering encompassing flex workspaces, customized office spaces, and mobility solutions. In addition to co-working solutions, Awfis has developed capabilities in design, construction, maintenance, and management of flexible workspace requirements, exemplified by Awfis Transform and Awfis Care. The company also provides allied services, including food and beverages, IT support, and infrastructure services such as storage and customization, along with event hosting and meeting arrangements.
Tags : Awfis Space Solutions Limited Securities and Exchange Board of India CBRE Report beverages IT support infrastructure services flexible workspace solutions