Home Business Awfis Space Solutions files IPO papers with Sebi

Awfis Space Solutions files IPO papers with Sebi

Business · August 29, 2024 · Comments off

Flexible workspace solutions company Awfis Space Solutions Ltd has filed draft papers with capital markets regulator Sebi to garner funds through an Initial Public Offering (IPO).The proposed IPO comprises a fresh issue of up to Rs 160 crore and an Offer for Sale (OFS) of 1 crore equity shares, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday.

Those selling shares in the OFS are promoter — Peak XV Partners Investments V (formerly known as SCI Investments) — and existing shareholders — Bisque Ltd and Link Investment Trust.Proceeds from the fresh issue would be used for funding capital expenditure towards setting up of new centres, to support working capital requirements, and for general corporate purposes.

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Awfis offers a comprehensive range of flexible workspace solutions, catering to diverse needs, from individual flexible desk requirements to customised office spaces for startups, SMEs, and large corporations.

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As of June 30, 2023, Awfis holds the position of the largest flexible workspace solutions company in India, based on the total number of centres, according to a CBRE report.ICICI Securities, Axis Capital, IIFL Securities, Emkay Global Financial Services are the book-running lead managers to the issue.

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