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Co-working firm Awfis Space Solutions Ltd has posted a consolidated net profit of Rs 15.17 crore in the third quarter of this fiscal on higher income. The company had posted a net loss of Rs 6.28 crore in the year-ago period. Total income increased to Rs 331.46 crore in the October-December period of this fiscal from Rs 225.77 crore in the corresponding period of the preceding year, according to a regulatory filing on February 11. "Since March 2024, we added around 27,000 seats and 33 centres to reach 1,20,000 seats and 193 operational centers ... We remain confident in reaching our target of 1,35,000 operational seats by March 2025," said Amit Ramani, Chairman and Managing Director, Awfis Space Solutions. Awfis is one of the leading operators of flexible managed office space in the country.
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