Awfis, a prominent coworking space provider, has appointed Rajesh Kharabanda as a non-executive, non-independent director on its board. Kharabanda’s role will be subject to retirement by rotation, as per the company’s governance structure.
Rajesh Kharabanda is the Managing Director of Freewill Sports Private Limited, the parent company of the renowned homegrown sports brand Nivia. With an impressive career spanning around 37 years in the sports industry, Kharabanda also holds the position of chairman of the Sports Goods Manufacturers & Exporters Association in Jalandhar. Additionally, he serves as a director in six other companies, bringing a wealth of experience and expertise to Awfis.
Awfis, founded in 2015 by Amit Ramani, is recognized as India’s largest flexible space operator, with 181 centers, around 1.1 lakh seats, and approximately 5.6 million square feet of chargeable area as of March 31, 2024.
This development follows Awfis’s recent stock market performance, where its shares hit a 20% upper circuit on July 18, following its stock market debut on May 30, listing at a premium of 12.8% on the BSE. The IPO included a fresh issue of shares worth INR 128 crore and an Offer For Sale component of up to 1.23 crore shares. Awfis reported its first profitable quarter in Q4 of FY2023-24, with a profit after tax (PAT) of INR 1.4 crore on operating revenue of INR 232.3 crore.
