Awfis Space Solutions Limited has released its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CARE Ratings Limited, confirms that the company has utilized its Initial Public Offering (IPO) proceeds in accordance with the objects outlined in the offer document during Q2FY27. The total IPO size was Rs. 128.00 crore.
Monitoring Agency Report Details IPO Fund Utilization
Awfis Space Solutions Limited has submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. The report, prepared by CARE Ratings Limited, addresses the utilization of funds raised from the company’s Initial Public Offering (IPO).
Fund Utilization Aligns with Offer Document
According to the report, the company’s utilization of issue proceeds has been in line with the objects as disclosed in the offer document. Specifically for the second quarter of the financial year 2027 (Q2FY27), the issue proceeds have been utilized according to the stated objectives, with no significant deviations noted. The total amount raised through the IPO was Rs. 128.00 crore.
Breakdown of Object Costs
The report details the cost of the objects monitored. The primary object, ‘Funding capital expenditure towards establishment of new centers’, was originally costed at Rs. 42.03 crore. Other objects included ‘Working Capital Requirements’ (Rs. 54.37 crore), ‘General Corporate Purpose’ (Rs. 20.63 crore), and ‘Issue related expenses’ (Rs. 10.97 crore), totaling Rs. 128.00 crore.
Progress and Unutilized Funds
As of the end of Q2FY27, the expenditure for ‘Funding capital expenditure towards establishment of new centers’ was fully utilized (Rs. 42.03 crore). ‘Working Capital Requirements’ also showed full utilization of Rs. 54.37 crore. ‘General Corporate Purpose’ saw utilization of Rs. 20.63 crore. A sum of Rs. 1.34 crore remained unutilized under ‘Issue related expenses’, which is held in a public issue account and is earmarked for pending expenses.
No Delay in Implementation
The report also states that there has been no delay observed in the implementation of the objects, with completion dates as per the offer document being met or ongoing as expected. The company’s equity shares were trading at Rs. 241 as of October 15, 2026, which was below the issue price.
Source: BSE
