Awfis Space Solutions Limited files DRHP
Flexible office operator Awfis Space Solutions Limited has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise Rs 160 crores through its Initial Public Offering (IPO).
The company intends to allocate the net proceeds from the offering towards capital expenditure for establishing new centers, funding working capital requirements, and addressing general corporate needs, as outlined in the DRHP.
“Notably, this IPO marks a milestone as the first by any indigenous flexible office operator in India. Despite its small size, Awfis stands out due to its asset-light managed space model and a distinctive managed aggregation supply approach for landlords, resulting in the largest number of centers across the country,” mentioned DRHP.
The proposed IPO entails an offer for the sale of up to 10,023,172 equity shares, with Peak XV Partners Investments V, Bisque Limited, and Link Investment Trust planning to offload stakes.
