Awfis Space Solutions Limited

Awfis Space Solutions Limited, incorporated in December 2014 and headquartered in New Delhi, is a provider of flexible and managed workspace solutions in India. It offers coworking desks, customized private offices, meeting and event spaces, and allied services such as food and beverage, IT support and facility management, catering to individuals, start-ups, small and medium enterprises, and large corporations alike. As of December 2023 the company operated 169 centres across 16 cities in India, spanning roughly 105,258 seats and about 5.33 million square feet of chargeable area, with dozens more centres under fit-out at the time. Its portfolio mixes commercial and alternate assets, and it positions itself as the largest flexible workspace operator in the country by number of centres, with a meaningful presence in Tier 2 cities. The company grew revenue rapidly in the years leading up to its listing, aided by rising demand for flexible office space from both large enterprises and Global Captive Centres, though it remained loss-making through that period as it scaled its footprint. The IPO combined a fresh issue, whose proceeds were directed mainly toward funding new centres, working capital and general corporate purposes, with a larger offer for sale by existing shareholders including its founder and financial investors.

Awfis raised about Rs 268.62 crore from anchor investors ahead of the issue opening, with roughly 70.13 lakh shares allotted at the upper end of the price band, Rs 383 per share.