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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.

Related News

A Look At Pine Labs' Shareholding Pattern & Top Leadership

Inc42 · 2m 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%.

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

Inc42 · 11m 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 · 2m 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.

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.

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.

Fintech unicorn Pine Labs files DRHP with SEBI for Rs 2,600 crore IPO

IndianStartupNews

IndianStartupNews · 2m ago

Fintech unicorn Pine Labs files DRHP with SEBI for Rs 2,600 crore IPO

Pine Labs, a Noida-based fintech unicorn, has filed its draft red herring prospectus with SEBI, aiming to raise Rs 2,600 crore via an IPO. This includes a fresh issue and an offer for sale of 147.8 million shares. Key shareholders selling stakes include Peak XV Partners, Temasek, PayPal, and Mastercard. The funds will support debt repayment, Southeast and West Asia expansion, and technological advancements. Pine Labs reported Rs 1,208 crore in revenue, achieving profitability with a Rs 26 crore net profit.

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.

Captain Fresh files confidential IPO papers

YourStory

YourStory · 13d ago

Captain Fresh files confidential IPO papers

Captain Fresh, a seafood supply chain firm based in Bengaluru, is preparing for an IPO to raise Rs 1,700 crore via a fresh issue of shares, totaling $350-$400 million with an offer-for-sale. Backed by Tiger Global and recently reclassified as Infifresh Foods Ltd, the company has filed confidential papers with SEBI. Funds are earmarked for debt repayment. The firm has strengthened governance by appointing independent directors and has plans for listing on NSE and BSE.

Blackbuck files DRHP; Accel to divest 24.2% of OFS

Entrackr

Entrackr · 1y ago

Blackbuck files DRHP; Accel to divest 24.2% of OFS

Online trucking platform Blackbuck has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO). The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 550 crore and an offer for sale (OFS) of up to 2,16,09,022 equity shares. Accel Partners will divest 24.2% of total OFS i.e 52,32,632 equity shares. Quickroutes International will offload 3,973,898 equity shares followed by International Finance Corporation and Tiger Global at 3,973,898 and 1,711,962 shares, respectively. The fresh issue and OFS will be allotted at a face value of Re 1 while the price band and the minimum lot band will be decided by the company in consultation with the book-running lead managers shortly. According to the DRHP, Accel India controls the largest holding in the firm with a 17.07% stake followed by Quickroutes International with a 12.97% share. Tiger Global, Peak XV, and Tribe Capital hold 2.91%, 2.11%, and 2.80% respectively. Blackbuck founders Chanakya Hridaya, Rajesh Kumar, and Ramasubramanian Balasubramaniam cumulatively command 32% of the holdings. Axis Capital, IIFL Securities, Morgan Stanley, and JM Financial are the book-running lead managers of the issue. Founded in 2015, Blackbuck provides payments, telematics, loads marketplace, and vehicle financing services that empower truck operators to operate their businesses efficiently. The company claims to have 9,63,345 annual transactions of truck operators. Blackbuck has raised over $350 million to date including its $67 million Series E round led by Tribe Capital, IFC Emerging Asia Fund, and VEF when the Flipkart-backed firm entered into the coveted unicorn club. According to the financial statements shown in DRHP, Blackbuck’s revenue from operations grew 68.8% to Rs 297 crore in FY24. However, the losses for the Bengaluru-based firm declined 33% to Rs 194 crore in FY24 from Rs 290 crore in FY23. It appears that Blackbuck has changed its revenue recognition for the last two fiscal years. Earlier, it reported Rs 704 crore revenue in FY23 and Rs 833 crore in FY22. Blackbuck is set to become the second startup from the logistics space to get listed on the stock exchange. In May 2022, SoftBank-backed Delhivery became the first one from the sector to make the market debut. E-comm Express, which has put a hold on its IPO plan, recently raised $172 million via right issue.

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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