Awfis Space Solutions, a flexible workspace provider, has received market regulator SEBI’s approval to raise ₹160 crore via fresh issuance of shares through initial public offering. This apart, TBO Tek, one of the leading travel distribution platforms, has also got final observations from SEBI for their proposed IPO.

Awfis Space Solutions, which filed its Draft Red Herring Prospectus last December, will also offer for sale of equity shares of up to one crore equity shares. The offer for sale comprises up to 5,011,586 equity shares by Peak XV Partners Investments V, about 4,936,412 shares aggregating by Bisque and 75,174 equity shares by Link Investment Trust.

The company has proposed to use the net proceeds from IPO for setting up new centres, working capital and general corporate purposes.

Awfis offers a comprehensive range of flexible workspace solutions, catering to diverse needs, from individual flexible desk requirements to customised office spaces for start-ups, SMEs, and large corporations.

Allied services

The company also provides allied services, including food and beverages, IT support and infrastructure services such as storage and customisation, along with event hosting and meeting arrangements.

With 136 centers in 16 cities, Awfis provides a total of 81,433 seats, covering a chargeable area of 4.12 million sqft. Among these, 15 centres with 11,191 seats are currently under fit-out, with a chargeable area aggregating to 0.53 million sqft.

Over the years, we have increased our focus on the lower-risk, asset light managed aggregation model and 65 per cent of our centres are under the MA model as of June-end.

TBO Tek offers over 7,500 destinations and facilitates 33,000 bookings per day through their platform. TBO supports a wide range of currencies along with forex assistances.

The company simplifies the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others, and retail buyers such as travel agencies and independent travel advisors.