Awfis

Stocks to Watch, Dec 11: From RIL to Awis Space Solutions, here is a list of stocks that will be in the spotlight today

Furthermore, the transaction will be cash flow accretive, freeing up working capital and leading to an improved working capital cycle

With the latest addition, Awfis now has half a million square feet of Grade-A flexible workspace with Nyati Group

Awfis Space Solutions share price scaled up to 7.52 per cent at Rs 824.60 a piece per share on the BSE in Wednesday's intraday deals

Awfis, a network of flexible workspaces, announced the launch of two new centres at Mantri Commerce and Vista Pixel in Bengaluru

Industry executives believe investors are bullish on this sector in India and their interest has increased after the successful IPO of Awfis Space Solutions

The stock listed at Rs 435, a 14 per cent premium over its issue price of Rs 383 per share on the National Stock Exchange in an otherwise weak market.

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The initial public offer of co-working space operator Awfis Space Solutions got subscribed a whopping 108.17 times on the closing day of subscription on Monday, amid heavy participation from institutional investors. The Rs 599 crore initial share sale received bids for 93,34,36,374 shares against 86,29,670 shares on offer, according to data available with the NSE. The portion for non-institutional investors fetched 129.27 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 116.95 times. The quota for Retail Individual Investors (RIIs) attracted 53.23 times subscription. The initial public offer (IPO) of fresh issue of up to Rs 128 crore and offer for sale of up to 1,22,95,699 equity shares began for bidding on Wednesday. The price range for the IPO is Rs 364-383 per share. The IPO of Awfis Space Solutions was fully subscribed on the first day of bidding on Wednesday. Awfis Space Solutions Ltd on Tuesday said it has mopped up a little ove

The Delhi High Court Tuesday issued notices to its Registrar General, the city government and the police in order to decide which court shall hear the plea of the minor wrestler, who is among the seven female grapplers who have accused Wrestling Federation of India President Brij Bhushan Sharan Singh of sexual harassment. The issue arose as the cases related to sexual offences against minors have to be heard by a special court set up under the Protection of Children from Sexual Offences (POCSO) Act. Patiala House Court is the jurisdictional court for hearing POCSO cases. However, the cases involving legislators are heard by a special MP/MLA court which is in the premises of Rouse Avenue Court. The women wrestlers have filed a plea before a trial court seeking monitoring of the investigation and recording of the statement of the alleged victims before the court. A similar plea was also filed by the wrestler who is a minor. Additional Chief Metropolitan Magistrate (ACMM) Harjeet Sing

Co-working operator Awfis is targeting two-fold jump in revenue to Rs 600 crore in FY23 as demand for flexible workspace has risen post the second wave of the pandemic, its founder and CEO Amit Ramani said. The company also plans to launch its initial public offer (IPO) towards the end of 2023 mainly to raise funds and give exits to investors, he said, adding the company has so far raised about Rs 450 crore from investors. At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month. In an interview with PTI, Ramani said the co-working segment, which includes managed office space, has been performing exceedingly well in the past 12-15 months. "Our revenue grew to Rs 280 crore in last financial year from Rs 220 crore in previous fiscal year. This financial year, we are targeting around Rs 600 crore revenue," he said. Ramani highlighted that the company has already achieved a monthly run rate of Rs

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After surviving the pandemic, Awfis is on an expansion mode. From 50 centres with 30,000 seats in 2015, it has more than doubled its capacity to 131 centres and 75,500 seats

Co-working firm Awfis on Tuesday said it has given on lease 64,000 square feet office space to agri-commerce firm WayCool. Awfis has leased 64,000 square feet to WayCool across Chennai and Bengaluru. Property consultant CBRE facilitated the leasing deal. Currently, the co-working player has 95 centres and 55,000 seats spread across 13 cities and is soon heading towards the 100 centres milestone before the end of 2021. Today, organizations are on the lookout for solutions that not only offer safety and convenience but also go the extra mile to improve productivity while optimizing costs," Amit Ramani, Founder & CEO, Awfis said. "The commercial real estate sector has proven to be extremely resilient over the last year. With the role of workplace changing, we at CBRE are optimistic that the sector's steady growth will continue in the future as well," said Anshuman Magazine, Chairman & CEO - India, South East Asia, Middle East & Africa, CBRE.

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

What do you do when your business model is based on professionals sharing workspaces at a time when coronavirus crisis is snowballing?

In the coworking space, top seven operators - Cowrks, WeWork India, Awfis, Regus, Smartworks, 91springboard and OYO Workspaces - have more than 350 centres across cities in the country

Real estate experts say such places work out to be 15-25% cost efficient vis-a-vis permanent offices

With shared offices in vogue, Awfis plans to add more than 100 centres in 12 months