Shares of flexible workspace solutions company, Awfis Space Solutions, will be on focus on December 11 after a major block deal involving 85.3 lakh shares worth Rs 606 crore took place on the bourses.

While Moneycontrol couldn't immediately identify the buyers, CNBC TV-18 reported that Promoter Peak XV Partners Investments and shareholders Bisque Ltd and Link Investment Trust were expected to divest a 12.2 percent stake in the company.

The transaction, valued at Rs 606 crore, will price the shares at Rs 710 each, reflecting a 1 percent discount to the previous closing price on the National Stock Exchange (NSE). CNBC TV-18 sources added that the deal also includes a 90-day lock-in period.CNBC TV-18 sources added that the deal also includes a 90-day lock-in period.

As per the current shareholding pattern, Peak XV holds a 22.86 percent stake in Awfis, while Bisque and Link Investment Trust own 23.47 percent and 0.36 percent, respectively. Awfis caters to diverse workspace requirements, offering everything from flexible desks for individuals to bespoke office solutions for corporates.

Last month, Awfis announced a strategic partnership with the NSE to design, build, and manage over 1.65 lakh square feet of office space at Adani Inspire in Mumbai’s Bandra-Kurla Complex (BKC).

This agreement covers two floors within BKC, a prestigious commercial hub known for its connectivity to the Aqua Metro Line and Bandra suburban station. Awfis already operates a coworking centre in the same building, and this new mandate strengthens its presence further. Rounak Real Estate Consultants, a firm specializing in high-value real estate advisory services, facilitated the partnership.

Awfis Space Solutions made its stock market debut on May 30 2024 and listed at a premium of 13.5 percent over the issue price. Ace investor Ashish Kacholia is also shareholder of the company.

At about 9:20 am, shares of the company were trading flat at Rs 717. Awfis Space Solutions' share price has rallied 58 percent in the last six months.

Published on December 11, 2024 / 09:25 IST

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