AWFIS SPACE SOLUTIONS (MAIN BOARD)
May 22, 2024 - May 27, 2024
| Price | ₹364 - ₹383 |
| Premium | ₹84 |
|---|---|
| Lot size | 39 |
| Allotment | May 29, 2024 |
| Listing | May 30, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 39 | 14937 | 39963 |
| sHNI | 14 | 546 | 209118 | 1427 |
| bHNI | 67 | 2613 | 1000779 | 2854 |
Last Updated as on 27-May-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 4675656 | 546835497 | 116.95 |
| HNIs | 2337827 | 302220984 | 129.27 |
| HNIs (10L+) | 1558552 | 215307651 | 138.15 |
| HNIs (2-10L) | 779275 | 86913333 | 111.53 |
| Retail | 1558551 | 82957290 | 53.23 |
| Employees | 57636 | 1422135 | 24.67 |
| Total | 8629670 | 933435906 | 108.17 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 2854 | 78321 | 27.44 |
| HNIs (2-10L) | 1427 | 153945 | 107.88 |
| Retail | 39963 | 1851231 | 46.32 |
| Total Application : 2083497 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹60.13 | @8% ₹68.72 | @9% ₹77.31 | @10% ₹85.9 | @11% ₹94.49 | @12% ₹103.08 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹55260 |
Top 5 Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| ICICI PRUDENTIAL HOUSING OPPORTUNITIES FUND | 469560 | 6.70% | 17.98 |
| GOLDMAN SACHS FUNDS -GOLDMAN SACHS INDIA EQUITY PORTFOLIO | 469560 | 6.70% | 17.98 |
| EAST BRIDGE CAPITAL MASTER FUND I LTD | 469560 | 6.70% | 17.98 |
| ASHOKA WHITEOAK ICAV - ASHOKA WHITEOAK EMERGING MARKETS EQUITY FUND | 261105 | 3.72% | 10.00 |
| ASHOKA WHITEOAK EMERGING MARKETS TRUST PLC | 260832 | 3.72% | 9.99 |
IPO Details
| Issue Size | [15,637,736] shares (aggregating up to 598.93 Cr) |
| Fresh Issue | [3,342,037] shares (aggregating up to 128 Cr) |
| Offer for Sale | 12,295,699 shares (aggregating up to 470.93 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 66,075,779 |
| Share holding post issue | 69,417,816 |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Key Performance Indicators
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROCE | 49.91 | 25.26 | 1.75 |
| RONW | -7.66% | -27.54% | -60.34% |
| D/E | 0.1 | 0.06 | 0.13 |
Financial Statement (Restated Consolidated)
| Period Ended | Dec-23 | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|---|
| Assets | 1,352.25 | 930.61 | 559.69 | 508.58 |
| Revenue | 633.69 | 565.79 | 278.72 | 216.02 |
| Profit After Tax | -18.94 | -46.64 | -57.16 | -42.64 |
| Net Worth | 247.19 | 169.36 | 94.72 | 150.75 |
| Reserves and Surplus | -265.56 | -204.3 | -223.37 | -167.12 |
| Total Borrowing | 23.72 | 10.92 | 12.11 | 2.97 |
| Amount in Crore | ||||
About Company
Awfis Space Solutions Limited, incorporated in December 2014, is a premier workspace solution provider in India, offering a wide array of flexible workspace solutions tailored for individuals, start-ups, SMEs, and large corporations. The company’s core offerings include co-working spaces, custom office spaces, and mobility solutions, supplemented by comprehensive services such as food and beverages, IT support, infrastructure services, and event hosting. By December 31, 2023, Awfis operated 169 centers across 16 cities, encompassing 105,258 seats and a chargeable area of 5.33 million sq. ft., with an additional 31 centers under fit-out, offering 25,312 seats and a chargeable area of 1.23 million sq. ft. The company also provides in-house fit-out and facility management services, with 81.66% of its centers in commercial assets and 18.34% in alternate assets. With a dedicated team of over 100 employees with a hospitality background and 63 designers and project managers, Awfis ensures high-quality service and enhanced industry experience for its clients.
Strength Factors
Leadership in a Growing Marketplace: Awfis Space Solutions Limited is a leading player in India's expanding flexible workspace market, with a substantial presence across 16 cities and a robust portfolio of 169 centers, ensuring significant market influence.
Innovative MA Model: The Company is pioneering in the flexible workspace industry through its innovative MA (Management Agreement) model, enhancing operational efficiency and client satisfaction by providing tailored workspace solutions.
Diverse Sourcing and Demand Strategies: Awfis employs diverse space sourcing and demand strategies, including a mix of commercial and alternate assets, to meet the varying needs of individuals, start-ups, SMEs, and large corporations, ensuring a broad and adaptable service offering.
Risk Factors
History of Financial Losses: Awfis Space Solutions Limited has a track record of net losses, negative EPS, and RoNW, indicating financial instability that could adversely impact business operations and investor confidence.
Sustainability Challenges: The Company must significantly increase revenues while controlling expenses to achieve profitability. Failure to meet these goals could negatively affect its business, operations, cash flows, and financial condition.
Macroeconomic Impact: Awfis's growth is vulnerable to macroeconomic factors, which could hinder expansion plans and overall market performance, potentially leading to continued negative cash flows in future fiscal periods.
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