Cyril Amarchand Mangaldas Advises BRLMs In IPO Of Awfis Space Solutions

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 of equity shares of Awfis Space Solutions Limited, one of 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 one of the largest flexible workspace solutions company in India, in terms of total number of cities, centres and micro-markets. It has a network of 169 total centres 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., acted as international legal counsel for book running lead managers; and Quillon Partners acted as legal counsel for investor selling shareholder.