QRG Investments Cuts Stake in Awfis: What It Means for the Co-Workspace Market

QRG Investments divested a 3.4% stake in Awfis Space Solutions for Rs 141 crore, reducing its holding from 4.11% to 0.75%. The transaction was conducted at Rs 585.14 per share. Meanwhile, HSBC Mutual Fund acquired a 1.28% stake in Awfis at Rs 585 per share, worth Rs 53.72 crore.

QRG Investments and Holdings announced on Tuesday that it has significantly cut its stake in the co-working solutions platform, Awfis Space Solutions. The promoter of Havells India sold nearly a 3.4% stake for Rs 141 crore through an open market transaction.

The bulk deal data from the NSE reveals that QRG divested 24.07 lakh equity shares, just under 3.37%, at an average price of Rs 585.14 per share. This move reduces QRG's holdings in Awfis from 4.11% to a mere 0.75%.

In contrast, HSBC Mutual Fund took a considerable interest by purchasing 5.21 lakh shares—about a 1.28% stake—in the New Delhi-headquartered Awfis, at the same Rs 585 per share for Rs 53.72 crore. Following these events, Awfis' shares closed 1.87% lower at Rs 575.90 on the NSE.

(With inputs from agencies.)