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Startup Street: Might list the company by 2022, says Amit Ramani of Awfis

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Co-working as a trend is gaining much traction in countries like India, Singapore, Vietnam and even in China. Entrepreneurs and businesses seem to love the flexibility in terms of space and finances. Awfis is another breakthrough co-working company that is trying to make the mark in this. CNBC-TV18 spoke with founder, Amit Ramani to know more about the trend.

Co-working as a trend is gaining much traction in countries like India, Singapore, Vietnam and even in China. Entrepreneurs and businesses seem to love the flexibility in terms of space and finances. Awfis is another breakthrough co-working company that is trying to make the mark in this. CNBC-TV18 spoke with founder, Amit Ramani to know more about the trend.
Ramani said, "I think the uptick of co-working in India has been fairly dramatic. Today we see almost 40 percent of our client base is corporates, 40 percent are SMEs and 20 percent are startups and freelancers which is where everybody though co-working was. What we are also seeing is that the adoption is happening both in tier-I and tier-II cities. Also mobility is becoming the core of our work today and a lot more people are adapting to this whole work style where they are saying I do not have to be at my desk all the time, I can be mobile or I can be at a co-lab zone or in a meeting space or in a space which is not mine. So, the co-working adoption, as a result, has taken off fairly well."
On funding, he said, "One of the things we were very focused on was profitability and we became profitable in November 2018, so almost 10 months we have been profitable. All the capital that we have raised today is primarily going to be towards our growth - opening new centers, we are going to focus a bit on technology, we are very focused on delivering stellar customer experience. So, a bit on technology - probably 5 percent of our raise and 95 percent is going to go towards growth capital, towards expansion."
On listing on bourses he said, "We are at about Rs 300 crore clip if I was to extrapolate our current monthly revenue run rate. At about Rs 1000 crore we want to take the business IPO and 2022 is what we are looking at."

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CompanyPriceChng%Chng
Sun Pharma773.95 70.95 10.09
Tech Mahindra1,209.55 81.75 7.25
Cipla920.05 36.95 4.18
Shree Cements28,265.75 626.80 2.27
Adani Ports674.50 14.85 2.25
CompanyPriceChng%Chng
Sun Pharma774.00 70.75 10.06
Tech Mahindra1,209.45 81.70 7.24
Bajaj Auto3,845.00 82.20 2.18
Power Grid Corp171.05 3.65 2.18
HCL Tech1,025.45 17.85 1.77

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