Awfis, a key player in India’s coworking industry, has granted 1.34 lakh equity shares to employees under its ESOP 2015 plan. This latest allotment has raised the company’s paid-up capital to INR 70.96 crore from INR 70.82 crore. Previously, Awfis had issued 6.16 lakh shares under the same plan in November 2024.

The company’s stock ended at INR 661.9 per share on February 19, valuing the newly allotted shares at approximately INR 8.9 crore. With 2,12,908 options vested under the scheme, eligible employees have up to 15 years to exercise their stock options.

Despite this positive development, Awfis recently faced a regulatory challenge. Mumbai’s joint commissioner of state tax ordered the provisional attachment of the company’s bank accounts with HDFC Bank and ICICI Bank over alleged excess input tax credit (ITC) claims.

Financially, Awfis demonstrated strong performance in Q3 FY25, reporting a consolidated net profit of INR 15.18 crore, a significant turnaround from the INR 6.29 crore loss recorded in the same quarter last year. Revenue from operations surged 44% year-on-year, reaching INR 317.72 crore.

The coworking industry continues to experience rapid growth, driven by hybrid work adoption and demand for flexible office spaces. Awfis’ latest moves reflect its commitment to expanding employee benefits while navigating regulatory and financial landscapes in India’s evolving workspace sector.

As of February 20, Awfis’ stock was trading slightly higher at INR 662.30 on the BSE, signalling market confidence despite ongoing challenges.