Cyril Amarchand Mangaldas Advised BRLMs In Relation To Initial Public Offering Of Awfis Space Solutions Limited

Cyril Amarchand Mangaldas Advised BRLMs In Relation To Initial Public Offering Of Awfis Space Solutions Limited

Cyril Amarchand Mangaldas (CAM) advised ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited & Emkay Global Financial Services Limited (the “BRLMs”) in relation to the Initial Public Offering (IPO) of equity shares of Awfis Space Solutions Limited, the largest flexible workspace solutions company in India (Awfis).

The transaction involved an issuance of equity shares of Awfis aggregating to approximately Rs. 600 crores. The Equity Shares commenced trading on BSE Limited and National Stock Exchange of India Limited on May 30, 2024.

Awfis is the largest flexible workspace solutions company in India, in terms of total number of cities, centers and micro-markets. It has a network of 169 total centers across 16 cities with 105,258 total seats as of December 31, 2023.

CAM’s role encompassed advising BRLM’s on regulatory compliance, preparing necessary documentation, and ensuring the smooth execution of the IPO process.

The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region); with Support from Rushab Dhandokia, Principal Associate; Iti Mishra, Senior Associate; Nitesh Mishra, Associate; and Shashwat Solanki, Associate.

Other parties and advisors to the transaction included White & Case Pte. Ltd., who acted as International Legal Counsel for book running Lead Managers; and Quillon Partners acted as Legal Counsel for investor selling shareholder.

The transaction was signed on 27th July, 2023 and closing was done on 30th May, 2024.

Click to know more about Cyril Amarchand Mangaldas