Awfis Space IPO Oversubscribed By 2.03 Times On Day 1
For the first nine months of FY24, it reported a revenue of Rs 633 crore and a net loss of Rs 18 crore.
On the first day, retail investors subscribed 6.04 times their allotted shares, bidding for 94,07,931 shares out of 15,58,551. Non-institutional investors bid 2.76 times, with bids for 64,63,275 shares against their allotted 23,37,827 shares. Qualified institutional buyers also subscribed for 30% of their share.
Awfis will use the raised funds to expand its managed aggregation model, enhance customer services, and enter new markets, including Tier I and II cities. The company also plans to invest in operational efficiency and talent development to support its growth.
The co-working space company recorded a revenue of Rs 565 crore for FY23, up from Rs 278 crore in FY22. Awfis incurred a loss of Rs 46 crore in FY23, down from Rs 57 crore in FY22.
For the first nine months of FY24, it reported a revenue of Rs 633 crore and a net loss of Rs 18 crore.
