Summary:
- QRG Investments trims stake in coworking player Awfis
- Sale worth nearly ₹22 Cr via open market transaction
- Awfis continues to expand with 170+ centers across India
QRG Investments Sells Stake In Awfis Worth ₹21.94 Cr
In a fresh development from India’s coworking sector, QRG Investments has offloaded shares worth ₹21.94 crore in Awfis Space Solutions Ltd. through an open market deal. The move comes less than a year after Awfis made its public market debut, and highlights investor churn even as demand for flexible office spaces grows.
According to market data, the offloaded stake represents a strategic portfolio reshuffle by the investment arm of QRG Group, rather than a negative signal on Awfis’ fundamentals.
Awfis’ Journey: From Startup To Listed Coworking Giant
Founded in 2015 by Amit Ramani, Awfis has evolved into India’s largest homegrown coworking player, managing 170+ centers across 17 cities. It went public in May 2024, raising capital to fuel its next phase of expansion.
The company has positioned itself as a full-stack workspace provider catering to startups, SMEs, and large corporates with customized, tech-enabled office solutions. The listing allowed Awfis to strengthen its balance sheet, expand into Tier II markets, and lock in enterprise deals.
Why The Deal Matters In India’s Coworking Race
The coworking industry in India is expected to surpass 50 million sq. ft. by 2030, fueled by hybrid work models and enterprise adoption. Awfis, along with rivals like WeWork India and Smartworks, is tapping into this demand shift.
Experts suggest that QRG’s partial exit is part of portfolio rotation, while Awfis remains well-poised for growth. Its asset-light strategy, combined with digital-first office management, has helped it win long-term contracts with large enterprises, government agencies, and global clients.
