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Peak XV-backed Awfis files DRHP, plans to raise INR 160 Cr via fresh share issue

Inc42 · 1y ago

Peak XV-backed Awfis files DRHP, plans to raise INR 160 Cr via fresh share issue

Coworking space provider Awfis, backed by Peak XV Partners, has filed a draft red herring prospectus (DRHP) with SEBI for its IPO. The IPO consists of a fresh issue of INR 160 Cr and an offer-for-sale (OFS) component. Awfis plans to use INR 52.5 Cr from the net proceeds to set up new coworking centers and the remaining INR 68 Cr as working capital. As of June 2023, Awfis had 121 operational centers and reported revenue of INR 545.28 Cr in FY23.

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Swiggy Files Updated DRHP With SEBI For INR 3,750 Cr IPO

Inc42 · 9m ago

Swiggy Files Updated DRHP With SEBI For INR 3,750 Cr IPO

Swiggy plans to raise INR 3,750 Cr through a public issue, with a fresh issuance of shares and an offer for sale (OFS) component. Investors including Accel, Coatue, Alpha Wave, Elevation, Norwest, and Tencent will sell shares as part of the OFS component. The move comes after SEBI approved Swiggy's draft red herring prospectus (DRHP) filed via the confidential route.

Wakefit Files Draft Papers For INR 468 Cr IPO

Inc42 · 26d ago

Wakefit Files Draft Papers For INR 468 Cr IPO

Wakefit, a D2C furniture and mattress startup, has filed a draft red herring prospectus with SEBI to raise INR 468 crore through a fresh issue of shares. The IPO will also include an offer for sale of up to 5.8 crore equity shares. Wakefit's promoters and investors, including Peak XV, Redwood Trust, and Verlinvest, plan to offload shares. This move is part of Wakefit's strategy to further its growth in the ecommerce space.

A Look At Pine Labs' Shareholding Pattern & Top Leadership

Inc42 · 25d ago

A Look At Pine Labs' Shareholding Pattern & Top Leadership

Pine Labs has filed its draft red herring prospectus (DRHP) to go public, aiming to raise INR 2,600 crore through a fresh issue. The IPO will include an offer for sale of up to 14.78 crore shares from investors like Mastercard, Peak XV Partners, Macritchie Investments, and cofounder Lokvir Kapoor. Significant stakeholders include Peak XV Partners with 20.35%, Macritchie Investments with 7.10%, PayPal with 6%, and CEO B. Amrish Rau with 2.35%.

IPO-bound Awfis’ net loss narrows to INR 46.6 Cr in FY23

Inc42 · 1y ago

IPO-bound Awfis’ net loss narrows to INR 46.6 Cr in FY23

IPO-bound coworking space provider Awfis reported a net loss of INR 46.6 Cr in the financial year 2022-23 (FY23), a decline of over 18% compared to the previous year. The company's revenue from contracts with customers grew by 112% YoY to INR 545.3 Cr in FY23. Awfis plans to raise INR 160 Cr through a fresh issue of shares during its IPO and is experiencing increased demand for flexible workspaces due to the COVID-19 pandemic. However, the company faces rising expenses, including finance costs and employee benefit expenses.

Awfis IPO on May 22: All you need to know

Economic Times

Economic Times · 1y ago

Awfis IPO on May 22: All you need to know

Indian flexible workspace solutions provider Awfis Space Solutions Limited is preparing to launch its IPO on May 22, with a subscription window closing on May 27. The IPO will consist of a fresh issue of shares valued at up to INR 128 crore ($18 million), and existing investors Peak XV Partners and Bisque Ltd are also divesting their stakes. Awfis plans to use the proceeds for expansion, establishing new centres, working capital requirements, and general corporate purposes. While the company has seen significant revenue growth, it has also incurred losses. Awfis offers flexible desk solutions, customised office spaces, and additional services.

Wakefit files DRHP to raise Rs 468 Cr via fresh issue

Entrackr

Entrackr · 26d ago

Wakefit files DRHP to raise Rs 468 Cr via fresh issue

Wakefit, a home and sleep solutions brand, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 468 crore (approximately $55 million) and an offer for sale (OFS) of 5.84 crore equity shares, according to the DRHP. Peak XV is set to offload nearly 2.5 crore shares, making up around 48.8% of the total offer for sale (OFS). Verlinvest and Investcorp Growth will divest 1 crore and 54.5 lakh shares, respectively. Other participants in the OFS include Redwood Trust, SAI Global, Paramark Fund, and others. Its co-founders, Ankit Garg and Chaitanya Ramalingegowda, will collectively sell 1.21 crore shares in the offer for sale. As per the DRHP, Peak XV is the largest external stakeholder with a 22.7% stake, followed by Verlinvest and Investcorp, which hold 9.89% and 9.39%, respectively. SAI Global Investment owns 5.35%, while Elevation Capital and Paramark Fund hold 4.73% and 1.65%. Among the promoters, Ankit Garg holds the largest share at 33.38%, followed by Chaitanya Ramalingegowda with a 10.09% stake. Wakefit plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Axis Capital, IIFL Capital, and Nomura, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for setting up new stores, leases and licenses, marketing, and other general corporate purposes. In the first nine months of FY25, the company reported revenue of Rs 971 crore with a net loss of Rs 8.8 crore. Wakefit generated 54.78% of its revenue through its own channels, while the remainder came from marketplaces and multi-brand outlets (MBOs). Mattresses were the top revenue contributor, followed by furniture and furnishings.

Peak XV, Bisque, link to offload ₹583 cr stake in Awfis

Inshorts · 7m ago

Peak XV, Bisque, link to offload ₹583 cr stake in Awfis

VC major Peak XV Partners, Mauritius-based investment firm Bisque Limited, and Delhi-based Link Investment Trust reportedly plan to offload Awfis' shares worth ₹583 crore. Citing sources, CNBC-TV18 reported that the three investors will together offload a 12.2% stake, or 85.8 lakh shares, in the flexible workspace solutions company via a block deal.

Capillary Technologies Secures Board Approval for INR 2250 Cr IPO Launch

StartupTalky

StartupTalky · 1m ago

Capillary Technologies Secures Board Approval for INR 2250 Cr IPO Launch

Capillary Technologies has obtained board approval to launch a INR 2250 crore IPO, raising INR 500 crore through new shares and INR 1750 crore via an offer for sale. This move follows an earlier attempt to list in 2021, which was abandoned. Founded in 2008, Capillary offers client engagement software with clients like Domino's and Tata Group. The company saw an 80% revenue growth in FY24 and is backed by investors like Qualcom Ventures and Peak XV Partners.

Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks

Inc42 · 1y ago

Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks

Awfis, a Chennai-based coworking space provider backed by ChrysCapital and Peak XV Partners, plans to file a draft red herring prospectus (DRHP) within a month for an IPO valued at $100-125 million. The company has shortlisted ICICI Securities, IIFL Capital, and Axis Capital as the investment banks for the IPO. This move would make Awfis the first coworking startup from India to go public. The IPO will comprise both primary and secondary share issues, allowing investors to dilute their shares and the company to raise expansion capital.

Peak XV Partners-Backed Awfis’ IPO To Open On May 22

Inc42 · 1y ago

Peak XV Partners-Backed Awfis’ IPO To Open On May 22

Co-working space provider Awfis is set to launch its initial public offering (IPO) on May 22 and close on May 27. The IPO will consist of a fresh issue of shares worth up to INR 128 crore (~$17 million) and an offer for sale (OFS) component of up to 1.23 crore shares. Notably, shareholders including Peak XV Partners, Bisque Limited, and Link Investment Trust are planning to offload their shares through the OFS. The offloading shareholders have increased the number of shares they plan to sell.

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