Bisque, Link Investment Trust, and Peak XV Partners are preparing to sell a significant stake in a prominent workspace solutions provider. The strategic move involves divesting their holdings through carefully planned block deals.
These prominent investors aim to offload their 12.2% stake, signalling potential shifts in the company’s ownership landscape and generating market speculation.
Share Price Movement
The share price of Awfis Space Solutions Limited went up by 1.62 percent to Rs. 728.7 per share on Wednesday, an increase from its previous close of Rs. 717.05 per share. The market capitalisation now stands at approximately Rs. 5,061.7 crore as of December 11, 2024.
Block Deal details
Awfis Space Solutions will be in focus after a major block deal involving 85.3 lakh shares worth Rs 606 crore. Promoters Peak XV Partners Investments, Bisque Ltd, and Link Investment Trust are expected to divest a 12.2% stake in the company at Rs 710 per share, reflecting a 1% discount to the previous closing price on NSE. The deal includes a 90-day lock-in period, with Peak XV holding 22.86%, Bisque 23.47%, and Link Investment Trust 0.36% of the shares.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Awfis Space Solutions’s consolidated revenue from operations has increased by 40.3 percent YOY from Rs. 208 crore in Q2 FY24 to Rs. 292 crore in Q2 FY25 and increased by 13.1 percent QoQ from Rs. 258 crore in Q4 FY24.
The company’s consolidated net loss has turned positive from a loss of Rs. 4 crore in Q2 FY24 to a profit of Rs. 39 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 1,200 percent QoQ from Rs. 3 crore.
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Market Outlook
The Indian office market is expected to grow at a CAGR of 6.3% from 2023 to 2026. This growth is driven by increased demand from both domestic and global occupiers, supported by a skilled workforce, well-established infrastructure, and a stable economy. The market is primarily concentrated in major cities like Bengaluru, Mumbai, and Delhi, with organised office space totalling 832 million sq. ft. Leasing activity has surpassed expectations, with notable growth in 2023, particularly in cities like Bengaluru, Delhi NCR, and Hyderabad.
Shareholding Pattern
As of the September 2024 shareholding pattern, Awfis Space Solutions Limited is primarily held by the promoters at 28.24 percent, foreign institutional investors hold 20.66 percent, and the public with 30.28 percent.
About Company
Awfis Space Solutions Ltd., based in New Delhi, is a leading coworking space provider in India, founded in 2015 by Amit Ramani. The company operates over 50 centres across 16 cities as of December 2023.Incorporated in 2014, Awfis offers flexible workspace solutions, including coworking spaces and enterprise solutions tailored to business needs. Their facility management services ensure smooth operations across all locations.
Since its founding, Awfis has rapidly expanded from a single facility to over 50 centres nationwide. It has secured significant funding, including $20 million in Series B and $30 million in Series D funding. Recently, Awfis has focused on Tier 2 cities to broaden its reach. In December 2023, Awfis filed its draft red herring prospectus (DRHP) for an IPO, aimed at providing capital for expansion and enhancements. The company continues to lead the coworking market in India, adapting to changing client needs.
Written By Fazal Ul Vahab C H
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