Awfis Space Solutions Block Deal | 12% equity worth ₹606 crore changes hands – CNBC TV18

As many as 85.3 lakh shares, or 12% equity, of Awfis Space Solutions worth ₹606 crore changed hands at ₹710 per share in a block deal window on Wednesday, December 11.

On Tuesday, December 10, CNBC-TV18 had reported, citing sources, that the company’s promoter Peak XV Partners Investments as well as shareholders Bisque Ltd and Link Investment Trust were likely to sell 12.2% stake in the company via a block deal.

The sale, valued at ₹583.4 crore, was to see the shares priced at ₹680 apiece, a 5.2% discount to the last closing price on the National Stock Exchange (NSE), sources said. The deal comes with a 90-day lock in period.

At the end of the September quarter, Peak XV held a 22.86% stake in Awfis Space Solutions, while Bisque and Link Investment Trust owned 23.47% and 0.36% stake, respectively.

Awfis Space Solutions provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for corporates.

Last month, Awfis Space Solutions announced a partnership with NSE to design, build and manage over 1.65 lakh square feet of office space at Adani Inspire, in Bandra-Kurla Complex (BKC), Mumbai.

This agreement covers two floors. With the addition of this new mandate, the company is expanding its footprint in the building, where it already operates a coworking centre, Awfis said.

Awfis Space Solutions shares ended 0.1% up at ₹718 apiece on Tuesday, December 10. The stock is up 70.24% this year, so far.

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