Awfis, a network of coworking spaces, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), the nation’s financial markets regulator.
A new issue of INR 160 Cr and an offer-for-sale part of up to 1 Crore shares make up its initial public offering (IPO), as reported by Inc42.
Awfis has changed over the past few years from being a coworking network to a fully tech-enabled platform for workspace solutions.
Read also – Kartik Aaryan Joins Sony Sports Network as a Football Brand Ambassador
From the net funds, the business will use INR 52.5 Cr to build new coworking spaces. The company plans to establish 15 more “Awfis” centres in Mumbai, Bengaluru, the National Capital Region of Delhi, Hyderabad, Pune, Chennai, Kolkata, Ahmedabad, Lucknow, Bhubaneswar, and Jaipur in Fiscal the year 2025.
This platform offers products that cover a wide range of work requirements, such as enterprise workspace solutions, flexible workspaces, Awfis@Home, integrated facility management, design and build solutions, and remote working solutions.
Read also – [Funding alert] Cloud Kitchen Platform Kitchens@ Secures $65 Mn in Series C Funding
The firm has calculated that the cost of opening a facility will be INR 3.5 Cr. The remaining net profits, or INR 68 Cr, will be put to use as operating capital.
Amit Ramani founded Awfis in 2015, and since then, it has developed into a tech-enabled workspace solutions platform that serves MNCs, large corporates, startups, freelancers, and SMEs.
Read also – [Funding alert] Agritech Platform Fasal Secures $12 Mn Investment Led by TDK Ventures, BII
About Awfis
With over 88,000+ seats distributed across 150 centres spanning 17 cities, Awfis is India’s largest and fastest-growing #WorkspaceSolutions platform. It was founded by Amit Ramani in 2015 to build an ecosystem of inspirational workspaces.
Read also – Mahindra Last Mile Mobility and Attero Collaborate for Sustainable EV Battery Recycling
