Awfis Allots 6.16 Lakh Equity Shares Under ESOP Plan

Coworking space startup Awfis has allotted 6.16 Lakh equity shares to its eligible employees under Employee Stock Option Plan (ESOP) 2015.

This comes on the back of the startup posting a consolidated net profit of INR 38.67 Cr in the September quarter of the financial year 2024-25 (Q2 FY25) as against a net loss of INR 4.34 Cr in the year-ago period.

“…the board passed a resolution on November 11, 2024, allotting 6,16,133 equity shares to the eligible employees of the company consequent to exercise of their respective vested stock options pursuant to Awfis Stock Option Plan 2015 (“ESOP 2015 Scheme”),” the company said in an exchange filing.

With this fresh issue, the paid-up capital of the startup has increased to INR 70,82,79,950 from INR 70,21,18,620 earlier. 

It is pertinent to note that in August, the company allotted 7.92 Lakh equity shares to its eligible employees under the same ESOP scheme.

Founded by Amit Ramani in 2015, Awfis claims to be the largest flexible space operator in India with 181 centres, around 1.1 Lakh seats, and about 5.6 Mn square feet of chargeable area, as of March 31, 2024. 

The startup recently sold  its facility management business ‘Awfis Care’ to SMS Integrated Facility Services, resulting in a gain of INR 24.01 during the September quarter of FY25 

Making its significant market debut in May, shares of the company were listed  at a substantial premium of 12.8% on the Bombay Stock Exchange (BSE).

Days after that, Awfis became profitable with a consolidated net profit of INR 1.4 Cr in the March Quarter of FY24.

At 1:55 PM today, shares of the company were trading at INR 763.55 apiece on the BSE, 1.57% lower than the previous close of INR 775.70.