Founded in 2015 by Amit Ramani, Awfis has evolved from just being a coworking network to a tech-enabled workspace solutions platform, catering to freelancers, startups, SMEs, large corporates, and MNCs.
The coworking space provider filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in December last year. The market regulator greenlit the company’s public issue in April 2024
The startup made its debut on the bourses in May this year. It listed on the BSE at INR 432.25 per share, a premium of 12.8% to its issue price. Similarly, it opened on the NSE at INR 435 apiece – 13.5 % higher than the issue price.
Awfis reported a profit of INR 2.7 Cr Cr in Q1 FY25 against a net loss of INR 8.3 Cr in the year-ago period. Operating revenue also jumped over 37.2% year-on-year (YoY) to INR 257.7 Cr in the quarter ended June 2024.
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