Awfis to sell facility management division for Rs 275 million

12 Sep 2024 CW Team

Flexible workspace provider Awfis Space Solutions Limited has signed a business transfer agreement with SMS Integrated Facility Services Private Limited (SMS IFS) to divest its facility management arm, Awfis Care, for Rs 275 million. Maple Capital Advisors acted as the sole advisor for the transaction, which is expected to be completed within 120 days.

SMS IFS, backed by Samara Capital, is a leading integrated facility management company in India, overseeing over 5,000 sites for more than 500 clients across Tier 1, Tier 2, and Tier 3 cities. The firm employs over 21,000 people and offers services ranging from soft services and technical support to sustainability consulting.

Legal counsel for Awfis was provided by Singhania & Co. This divestment allows Awfis to leverage SMS鈥檚 expertise in areas like digital operations, cost optimisation, and people management, ultimately reducing administrative overheads and improving operational efficiency.

(ET)

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