Awfis Space Solutions Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI).  

The company added in its statement that the company's initial public offering includes a fresh issue of up to Rs 1,600 million and an offer for the sale of up to 10,023,172 equity shares. 

The offer for sale involves up to 5,011,586 equity shares by Peak XV Partners Investments V (formerly known as SCI Investments V), up to 4,936,412 equity shares by Bisque Limited, and up to 75,174 equity shares by Link Investment Trust, the statement added.  

The company intends to allocate this amount to funding capital expenditure for establishing new centers, meeting working capital requirements, and addressing general corporate purposes. 

ICICI Securities Limited, Axis Capital Limited, IIFL Securities, and Emkay Global Financial Services Limited are the Book Running Lead Managers to the issue.  

Awfis offers workspace solutions with its core offering encompassing flex workspaces, customised office spaces, and mobility solutions.   

Peak XV Partners presently holds 15 million shares in the company, constituting a 22.9 per cent stake. Bisque owns a 23.5 per cent stake, and the founder and CEO of the company, Amit Ramani, also holds 18.2 percent stake.  

The company claimed that it is ranked 1st among the top 5 benchmarked players in the flexible workspace segment and has a presence in 16 cities across India.   

In the financial year 2023, the company recorded a revenue of Rs 545.28 crore, a significant increase from Rs 257.05 Crore the previous year. The net loss slightly decreased to Rs 46.64 crore in FY23. In the initial three months of the financial year 2024, the coworking services provider reported an operating revenue of Rs 187.7 Crore, with a loss of Rs 8.56 crore, news platform INC42 reported.