AWFIS Space Solutions Ltd Share Price

History of AWFIS Space Solutions Ltd

Awfis Space Solutions Limited' was incorporated as Awfis Space Solutions Private Limited' as a private limited company pursuant to a certificate of incorporation dated December 17, 2014. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of the companies Shareholders held on November 24, 2023, and the name of the Company was changed to Awfis Space Solutions Limited', with a fresh certificate of incorporation dated December 5, 2023, The company is the largest flexible workspace solutions company in India as on December 31, 2023, based on total number of centers. It provide a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customi ...zed office spaces for start-ups, small and medium enterprises as well as for large corporates and multi-national corporations. The Company's flexible workspace solutions cater to varied seat cohorts ranging from a single seat to multiple seats, which can be contracted by the clients for a period ranging from one hour to several years. Over time, the company has evolved from a co-working space to an integrated workspace solutions platform. While the companies core solution is co-working solutions which includes flex workspaces, customized office spaces and mobility solutions. The company has built capabilities to design, build, maintain and manage a wide range of flexible workspace requirements such as Awfis Transform (the construction and fit-out services business segment) and Awfis Care (the facility management services business segment). The company also provides allied services ranging from food and beverages, information technology support services and infrastructure services such as storage and customization to event hosting and meeting arrangements. In 2015, Company started its first centre in New Delhi and commenced the operations in Mumbai and Bangalore, commenced operations in Gurgaon in 2016. It launched a mobile application, 'Awfis Coworking' in 2016. Further, commenced operations in Hyderabad, Pune, Noida and Kolkata in 2017 and in Chandigarh - 1 st Awfis center in 2018. The Company launched its design and build solutions business line - Awfis Transform in 2019 and thereafter launched property and facility management services business line 'Awfis Care' in 2020. Following the launching of business line, it started the operations in Chennai in 2020. It launched the 1st Awfis Gold center in Hyderabad in 2021, commenced business operations in Ahmedabad and Indore in 2021. Commenced operations in Bhubaneshwar, Jaipur and Kochi in 2022. Commenced operations in Nagpur in 2023. The Company has crossed 1,12,000 total seats (operational + under fit-out), with over 180 total centres in 2024. In May 2024, Company came up with its initial public offering by issuing 15,643,153 equity shares of Rs 10 each by raising funds aggregating to Rs 599 Crore, comprising a fresh issue of 3,347,454 equity shares aggregating to Rs 128 Crore and 12,295,699 equity shares aggregating to Rs 471 Crore through offer for sale.