Awfis Space Solutions IPO on 22 May

    awfis space solutions IPO

    Awfis Space Solutions IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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    Awfis Space Solutions IPO Updates:
    Post Listing Review: Listed at Rs. 655, premium of 44.91% over the issue price of Rs. 452. The listing has been to the disappointment of the grey market players.

    Awfis Space Solutions IPO Grey Market Premium  
    Latest premium and subject to rates, Click

    Awfis Space Solutions IPO Subscription Status 
    Will update subscription status once the IPO opens for subscription.

    Awfis Space Solutions IPO Allotment 
    Allotment link will be live once the allotment is finalised.

    Awfis Space Solutions IPO Promoters
    AMIT RAMANI AND PEAK XV PARTNERS INVESTMENTS V.

    Awfis Space Solutions IPO Company Details to watch

    Awfis Space Solutions is the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers. As on December 31, 2023, it is ranked 1st among the top 5 benchmarked players in the flexible workspace segment with presence in 16 cities in India. Further, as on December 31, 2023, it is present in the maximum number of micro-markets in India. As on December 31, 2023, it has 169 total centers across 16 total cities in India, with 105,258 total seats and total chargeable area1 of 5.33 million sq. ft., of which 31 centers and 25,312 seats are under fit- out with chargeable area aggregating to 1.23 million sq. ft. In addition, it has entered into signed letters of intent (“LOI”) with space owners for 13 additional centers, with 10,859 seats aggregating to 0.55 million sq. ft. As on December 31, 2023, it has over 2,295 clients and have presence in 52 micro markets in India.

    For more information about the company, click https://www.awfis.com/

    Objects of the IPO
    This is fresh issue of capital & offer for sale.
    The Company proposes to utilise the Net Proceeds towards funding of the following objects:
    1.Funding capital expenditure towards the establishment of new centres;
    2.Funding the working capital requirements and
    3.General corporate purposes

    Awfis Space Solutions IPO Details to watch.
    IPO opens on  22 May 2024
    IPO closes on  27 May 2024
    Issue Type Book Built Issue IPO
    Issue Size 15637735 Shares /
    Rs 598.93 Crore
    * Fresh Issue 3342036 Shares/
    Rs. 128 Crore
    * Offer for Sale  12295699 Shares/
    Rs. 470.93 Crore
    Employees Discount Rs.36
    Face Value per share: Rs. 10
       
    Price Band Rs. 364-383
    Employee discount  Rs. 36 per share
    Retail Lot Size  39 Shares
    Listing will at  BSE, NSE
    Shares offered to Shares Rs. in Cr
    QIB (75 %)  11685074 449.20
    NII (15 %)    2337015   89.84
    RII (10 %)    1558010   59.89
    Employees        57636     2.00
    Total Shares  15637735 598.93
    Retail portion will be oversubscribed by  39948 Forms
    How much Shares to Apply? Rs.
    Min Retail Application  39 Shares     14937
    Max Retail Application  507 Shares   194181
    Small HNI (Min) application  546 Shares   209118
    Small HNI (Max) application 2574 Shares   985842
    Big HNI Application 2613 Shares 1000779

    Awfis Space Solutions IPO GMP Details to watch Guidance & Subscription

    Awfis Space Solutions IPO Indicative timetable
    IPO opens on 22 May 2024
    IPO Closes on 27 May 2024
    IPO Allotment on  28 May 2024
    Unblocking of ASBA  29 May 2024
    Credit to Demat Accounts  29 May 2024
    Listing on 30 May 2024
    Registered Office of Awfis Space Solutions
    Awfis Space Solutions Limited
    C-28-29, Kissan Bhawan
    Qutab Institutional Area
    New Delhi-110016
    Awfis Space Solutions IPO Lead Managers 
    ICICI Securities Limited 
    Axis Capital Limited 
    Iifl Securities Ltd 
    Emkay Global Financial Services Ltd
    Registrar to Awfis Space Solutions IPO
    Bigshare Services Pvt Ltd
    Awfis Space Solutions IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs. in Cr. Rs.in Cr. Rs. %
    2020-21 216.02 -42.64 -8.38 -28.29
    2021-22 278.72 -57.16 -10.68 -60.34
    2022-23 (3M) 565.79 -46.64 -8.11 -27.54
    Book Value of the Share on 31.03.2023 Rs.29.46    
    Book Value of the Share after the IPO Rs.?    
    Offer Price   Rs. 383    
    Ratio Analysis
    Upper Price Band/last EPS NA
    Upper price/Book Value Ratio 13.00
    Upper offer price/BV after IPO Ratio

    Awfis Space Solutions Peer Comparison
    The company believes that there are no listed entities of comparable size and business model in India or abroad, which is comparable with its business

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

    Awfis Space Solutions IPO Guidance & Subscription
    Awfis Space Solutions is the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers. As on December 31, 2023, it is ranked 1st among the top 5 benchmarked players in the flexible workspace segment with presence in 16 cities in India. The business is showing strong growth potential in India.
    Size: The IPO size of 15637735 shares/ Rs. 598.93 crore is not at all large and retail portion is just Rs. 59.89 crore/ 1558010 shares. With just 39948 applications, retail portion can get one time subscribed. So oversubscription is not an issue. 
    Financial Analysis: The top line has shown steady and strong growth and it suggest solid growth potential of the business. However at the bottomline, in all the past 3 years, it has shown huge losses. The company has invested heavily in the fixed assets during last 3 years. The Non-current assets have increased to Rs. 1080 crore as on 31 December 2023, compared to Rs. 357.71 crore as on 31.3.2021. Naturally, because of such huge investment in capital assets, the depreciation charge also increase sharply. The losses, which the company has shown are mainly due to depreciation and partly because of interest costs. We can compare such expenses with marketing costs as in the case of Zomato, Nykaaa etc. The shares can give excellent returns as long term investment and one may apply accordingly.

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