Peak XV, Link Investment To Divest 12.2% Stake in Awfis Space Solutions

Promoter Peak XV Partners and shareholders Bisque Ltd along with Link Investment Trust have planned to sell a 12.2 per cent stake in the flexible workspace solutions company Awfis Space Solutions through a block deal, according a report published by CNBC-TV18. The sale is valued at 583.4 crore, and has a lock-in period of 90 days.

Peak XV holds a 22.86 per cent stake in Awfis, followed by 23.47 per cent by Bisque and 0.36 per cent stake by Link Investment Trust in the company. Awfis provides flexible workspace solutions like desk needs and customized office spaces for corporates.  

Since the deal announcement, Awfis shares were trading at Rs 715 on the bourses during the market opening hours. The company, whih went public in May 2024, was listed at a premium of 13.5 per cen over the issue price.

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Awfis-NSE Partnership

Last month, Awfis also announced its partnership with the National Stock Exchange (NSE) to design, build, and manage more than 1.65 lakh square feet of office space in Mumbai's Bandra-Kurla Complex at Adani Inspire.

The agreement covers two floors within Bandra Kurla Complex, a premier commercial hub renowned for its excellent connectivity to the Aqua Metro Line and Bandra suburban station.

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Currently, Awfis operates a coworking centre in the sam building. It will further solidify its footprint with this new mandate. Its partnership with the NSE was facilitated by Rounak Real Estate Consultants, a firm specialising in high-value real estate advisory services.

In August, Awfis also partnered with Nyati group for an additional 3 lakh square feet of Grade-A workspace. It has planned to introduce premium flexible workspaces in Nyati Group's prime commercial properties 'Nyati Empress' in Viman Nagar and 'Nyati Enthral' in Kharadi.