Share price of the largest flexible workspace solutions company in India moved up by 1.2 percent on BSE to hit an intraday high at Rs. 424 in the morning trading session of Friday, after foreign investor Goldman Sachs bought stake in the company amounting to Rs. 47.1 crore.
With a market capitalisation of Rs. 2,807 crore, the shares of Awfis Space Solutions Limited opened at Rs. 420.05 on Friday, compared to its previous closing price of Rs. 419.1.
According to the bulk deal data available with the NSE, the foreign institutional investor Goldman Sachs FDS Goldman Sachs India EQ Portfolio purchased nearly 10.75 lakh equity shares in Awfis Space Solutions worth nearly Rs. 47.1 crore, at an average price of Rs. 438.18 per share.
Another foreign investor Ashoka India Equity Investment Trust PLC already holds around 10 lakh equity shares (equivalent to a 1.44 percent stake) in Awfis, as of the latest shareholding pattern available on BSE.
As of March 2024, the ace investor Ashish Kacholia holds nearly 33.51 lakh equity shares, representing a 4.83 percent stake, in the newly listed company.
In terms of financials, on a year-on-year basis, the company has witnessed a growth in the revenue from operations by percent from Rs. 257.05 crore in FY21-22 to Rs. 545.3 crore in FY22-23. It reduced its losses from Rs. 57.2 crore in FY21-22 to a loss of Rs. 46.64 crore in FY22-23.
The company made a debut on the stock exchanges on May 30th, with its shares listed at a premium of 13.5 percent against the issue price of Rs. 383 apiece on NSE and gained 12.8 percent on listing on the BSE against Rs. 432.25 apiece.
Awfis Space Solutions Limited is the largest flexible workspace solutions company in India based on a total number of centres, as of 31st December 2023.
The company provides a wide range of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for start-ups, small and medium enterprises (SMEs) as well as for large corporates and multi-national corporations.
Written by Shivani Singh
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