Awfis Allots 1.34 Lakh Shares Under ESOP Plan

Listed coworking startup Awfis has allotted 1.34 Lakh stock options to eligible employees.

The company has approved and allotted 1,34,951 equity shares to the eligible employees of the company consequent to the exercise of their respective vested stock options pursuant to Awfis Stock Option Plan 2015.

Consequent to the above allotment, the company’s paid-up capital increased to INR 70.96 Cr from INR 70.82 Cr earlier.

Shares of the Awfis ended yesterday’s (February 19) trading session at INR 661.9 apiece on the BSE. At this stock price, the newly allocated ESOP shares are worth nearly INR 8.9 Cr.

As of now, a total of 2,12,908 options have vested under the scheme and the exercise period shall be 15 (Fifteen) years from the respective date of vesting. 

Out of a total of 23,76,866 options for which In-principal approvals were obtained from NSE and BSE, 15,037 options have lapsed.

This comes after the company allotted 6.16 Lakh equity shares to its eligible employees under ESOP 2015 in November last year. 

Amid more recent developments, the company received copies of orders from Mumbai’s joint commissioner of state tax directing HDFC Bank and ICICI Bank to provisionally attach the operative bank accounts of Awfis over claiming excess input tax credit (ITC). 

Earlier this week, Awfis reported a consolidated net profit of INR 15.18 Cr in the third quarter of the fiscal year 2024-25 (Q3 FY25) as against a loss of INR 6.29 Cr in the year-ago quarter. 

On similar lines, its revenue from operations stood at INR 317.72 Cr in Q3 FY25, up 44% year-on-year and 9% sequentially. 

Shares of Awfis were up 0.5% at INR 662.30 at 11 AM on the BSE today (February 20).