FLEXIBLE WORKSPACE OPERATORS
Global Capability Centres drive office leasing in H1 2024, with a 37% share
India's office leasing market is dominated by Global Capability Centres (GCCs), with 37% of total leasing activity in January to June 2024. The country's robust workforce, competitive costs, and established ecosystem make it a key market for GCCs. With a projected 20% growth in GCC presence by 2025, the Indian office market is poised for significant expansion. 67% of GCCs plan to increase their office portfolios by over 10% in the next two years.
M3M leases 220,000 sq ft to flexible workspace provider Incuspaze in Gurugram
Flexible workspace provider Incuspaze has leased 220,000 sq ft in Gurgaon's M3M Urbana project, following a 600,000 sq ft lease last quarter across three cities. As demand grows, Incuspaze is expanding rapidly. The flex workspace market is expected to reach 100-140 million sq ft by 2030, driven by multinational companies and GCCs.
Corporates embrace more flexibility amidst the hybrid work model
About 30% of occupiers are expected to expand their use of flexible office space over the next 12 months, while 17% are likely to consolidate their offices into fewer locations, CBRE said in its latest ‘2024 India Office Occupier Survey’.
Awfis plans to raise seats by 50% in FY25
Awfis Space Solutions targets a 50% seat expansion to 135,000, focusing on managed office spaces to drive revenue growth. The company plans to add 40,000 seats by FY25, with new centers following a managed aggregation model. Sobia Khan's report highlights the successful addition of 15,084 seats, primarily under the managed aggregation approach.
Flexible workspace operator Smartworks raises Rs 168 crore
“Capital from the latest fund raising will be used for the growth and expansion of the business of the company and to meet its general corporate expenses,” said Neetish Sarda, founder Smartworks.
Flexible workspace operator Spring House leases 300,000 sq fr at MVN Aero One mall in Gurgaon
Spring House secured 300,000 sq ft at Gurgaon's MVN Aero One mall, offering cost-effective office spaces. The location caters to diverse demands, including from large enterprises and startups focusing on research and development operations.
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India Accelerator adds 250,000 sq ft in Pune, Gurugram and Noida
India Accelerator has expanded with 250,000 sq ft across 7 centres in Pune, Gurugram, and Noida, adding 3200 seats in Noida, 900 in Gurugram, and 400 in Pune. With over 200 startups, they foster collaboration and innovation, investing USD 4 million to support entrepreneurs nationwide via infrastructure and early-stage investments.
Best laptop risers under 3000: Top picks for comfort and productivity
Discover the best laptop risers under 3000, featuring top-rated options designed to enhance your workspace. This selection prioritizes ergonomic design, durability, and affordability, ensuring improved posture and productivity. Whether for home or office use, these laptop risers offer excellent value, combining style and functionality to meet diverse needs.
Election uncertainty weighs on Awfis Space Solutions' debut: Should you hold or exit?
Awfis Space Solutions, a prominent participant in India's flexible workspace sector, experienced a respectable listing on Thursday, albeit slightly below expectations. The company's shares debuted at Rs 435, marking a gain of over 13% compared to the issue price of Rs 383.
Awfis Space Solutions shares list at 14% premium over issue price
Awfis Space Solutions Share Price: Awfis Space Solutions lists at 14% premium over issue price with strong investor interest and expansion plans. Financial challenges persist despite revenue growth. Book running lead managers include ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global Financial Services.
Awfis Space Solutions GMP: Will there be a decent listing at the bourses today?
Awfis Space Solutions shares are currently trading in the unlisted market at a premium of Rs 125, representing a 27% increase over their issue price. The IPO garnered significant interest, with a subscription rate exceeding 100 times at closing.
Awfis Space Solutions IPO allotment: Check status, GMP, and other details
Awfis Space Solutions IPO allotment is set to be finalised today. Investors can check the allotment status on the BSE or Bigshare Services Private Limited’s website. This will reveal the number of shares allotted compared to their bids.
Awfis Space Solutions IPO: Issue subscribed over 32X so far on last day, NII portion booked 76X
Awfis Space Solutions IPO includes a fresh share sale of Rs 128 crore and an OFS of up to 1.22 crore shares. Promoter Peak XV Partners V and other shareholders Bisque Ltd and Link Investment Trust are participating in the OFS. The company's shares are trading with a premium of Rs 110-118 in the grey market.
EFC expands co-working portfolio; adds 360,000 sq ft in Noida and Pune
Integrated office infrastructure and design company EFC (I) Limited is expanding its co-working portfolio by adding 3.6 lakh sqft in Pune and Noida, aiming to add 10,000 seats by H1FY2025. With a presence in seven states and 35 centres, the company has seen a 120% capacity increase, focusing on institutional demand. India's co-working market is growing rapidly, with an estimated 30-35 million sqft of flexible office stock available.
Awfis Space Solutions IPO sails through on first day. Check GMP and other details
Awfis Space Solutions IPO saw high demand from retail investors on the first day. The IPO includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 1.22 crore shares. Anchor investors like Goldman Sachs and HDFC MF also participated.
Awfis Space Solutions IPO opens for subscription. Should you bid?
Awfis Space Solutions IPO, with participation from anchor investors like Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund, and ICICI Prudential MF, will open for subscription at Rs 364-383/share. Analysts recommend subscribing for market leadership and reasonable valuations.
Smartworks expands Pune portfolio, leases entire 6 lakh sq ft tower in Balewadi
Smartworks leases tower in Pune's Balewadi for coworking with 8,000 desks. The Indian market has become one of the fastest-growing centers for flexible office spaces, driven by the rising demand for adaptable workspace solutions from large corporations and dynamic startups worldwide, especially after the Covid-19 pandemic.
Awfis sets Rs 364-383 price band for IPO
The company expects its differentiated business model, expanding presence in tier-1 and tier-2 cities and increasing demand from large enterprises and startups to help make its public listing a success and drive future growth, founder and managing director Amit Ramani told ET on the sidelines of a pre-IPO conference in Mumbai.
Awfis IPO on May 22: All you need to know
Coworking space company, Awfis Space Solutions, will launch its initial public offering (IPO) on May 22, the company’s red herring prospectus showed. The Delhi-based company has reduced the fresh capital it is raising from the offering to Rs 128 crore from Rs 160 crore earlier.
Incuspaze leases 350,000 sq ft in Gurugram
The company has also leased 150,000 sq ft space in Pune and 60,000 sq ft space in Jaipur, as it is looking to add 1.5 million sq ft this year owing to increasing demand for flexible space in the country.
Flexible office operator Awfis gets SEBI nod for IPO
Awfis had filed its Draft Red Herring Prospectus (DRHP) in December 2023.
WeWork expands India presence, adds two assets in Pune & Gurugram
The HQ27 located in Gurugram’s MG Road market, offers over 96,000+ sq. ft. of sace across three with over 1,480+ desks. The property ahs a 15 years lease agreement with WeWork.The Pune property is Situated within Pune’s largest mall complex - Amanora Mall, Amanora Crest offers over 87,000 sq. ft. of workspace with around 1,700 desks under operator model
Rapid growth set to drive consolidation among India’s flexible office providers
Flexible workspaces in India have been witnessing rapid growth, leading to industry consolidation through mergers and acquisitions among major players like WeWork and Brookfield. The evolving sector is expected to reshape the market dynamics and set new industry standards. According to Ankit Gupta, president, Brookfield Properties, India is a global talent hub and the demand for an integrated live-work-play environment is driving a flight-to-quality trend. This extends to coworking spaces, paving the way for consolidation.
Flexible space operators takes 22% share in office space leasing
Flexible space operators have become the second-largest sector in office leasing for the first time in the Jan-Mar quarter, accounting for 22% of the total 14.4 million sq ft leased. With tech and BFSI sectors leading, India's office sector outlook remains positive, driven by growing demand and diverse segments.
Flexi space companies now prefer to buy properties
Flexible workspace providers in India are shifting to asset acquisition to meet rising demand. Major players like Table Space and EFC are expanding operations through property purchases, driven by increased interest from foreign funds and top corporations opting for flexible workspaces.
Flexible workspace market size likely to touch 126 million sq ft by 2028
The flex workspace market in India is dominated by product-led operators offering flexible office solutions across the spectrum. Various sectors such as information technology (IT) & IT-enabled services, banking, financial services, and insurance (BFSI), consulting, e-commerce, manufacturing, and emerging startups, alongside the steady influx of global captive centers (GCCs), are driving this demand.
WeWork India marks maiden entry into Chennai market with Olympia Cyberspace
WeWork India expands to Chennai with 130,000 sq. ft. in Olympia Cyberspace, its eighth city in India. With 54 locations and 90,000 desks in seven cities, the move strengthens their presence. CEO Karan Virwani notes rising demand for flexible workspaces as they aim to cater to diverse businesses
Co-working firm 315Work Avenue aims to double portfolio amid high demand
It also plan to expand its presence in the New Delhi & NCR and Hyderabad markets. The company aims to have a presence across 10-12 cities in its portfolio over the next two years. It also plans to scale up its operations in Bangalore to over 50 centers from the current presence of 30 centers.
Flexible workspace operators raise Rs 4,600 crore after Covid
Flexible workspace operators in India have raised Rs 4,600 crore post-Covid, compared to Rs 1,400 crore in the five years before the pandemic, as companies adopt hybrid work models. The market size for flexible office real estate is expected to grow to between 100 million sq ft and 140 million sq ft by 2030, from the current 55 million sq ft.
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