Awfis reports insider trading violation by senior executive

Co-working solutions provider Awfis Space Solutions Limited reported a trading violation involving one of its executives.

Anindita Seal Sarkar, Vice President of Sales, sold 15,764 shares and subsequently bought 25 equity shares without proper clearance, breaching the company's insider trading guidelines.

The shares were sold at Rs 693.02 each, totaling Rs 1.07 crore on September 30, while the 25 shares were purchased at Rs 698.44 each for a total of Rs 17,461.

"Matter has been intimated to the Chairman of the Audit Committee and the Chairman of the Board. The Audit Committee shall take action as may be deemed fit in line with the requirements of the Code of Conduct," Awfis stated in a stock exchange filing.

The issue was discovered during a routine review on November 26, 2024. Awfis referred the matter to its Audit Committee, highlighting that the trade violated its internal policies and regulatory standards.

Founded in 2015, Awfis provides office spaces for startups, SMEs, and large corporations, along with services such as food and beverages, IT support, and infrastructure solutions.

Awfis has shown strong growth in revenue while maintaining profitability in the second quarter of FY25. The company’s revenue from operations increased by 40.5% year-on-year, rising to Rs 292.38 crore in Q2 FY25 from Rs 208.15 crore in the same quarter last year.

Awfis’ stock was listed on the NSE on May 30, opening at Rs 435 with a 13.58% premium over the issue price of Rs 383. Currently, its shares are trading at Rs 732.