Their public offering kicks off on May 22nd. Unlike some recent listings, Awfis reported a net loss for the first nine months of the last fiscal year. However, they've shown revenue growth, reaching Rs 616 crore in the first three-quarters of FY24 compared to FY23's total of Rs 545 crore. Founded in 2015, Awfis caters to startups, SMEs, and large corporations by offering not just customized workspaces but also ancillary services like food and beverage, IT support, and infrastructure. Their primary revenue stream is rental services, accounting for over 64% of their operating revenue in the first three-quarters of FY24.

Despite the loss, Awfis is working towards cost control. Subcontracting and rent & maintenance make up a little over 30% of their total expenditure. However, there's still room for improvement as total expenditure outpaced revenue in the same period. The public offering will be open from May 22nd to 27th with a price band of Rs 364-382 per share. This upcoming IPO adds Awfis to the growing list of startups seeking IPO approval, including Ola Electric, FirstCry, MobiKwik, and Unicommerce.