Awfis Space Solutions Ltd. to Divest Facility Management Division 'Awfis Care' for INR 27.50 Crore

Awfis Space Solutions Ltd. has approved the execution of a Business Transfer Agreement (BTA) with SMS Integrated Facility Services Private Limited for the divestiture of its Facility Management division, 'Awfis Care', for a total consideration of INR 27.50 Crore. The division contributed INR 239.40 million (2.82% of the total revenue) in the last financial year. The BTA will be signed after the Board Meeting on the same day, and the transaction is expected to be completed within 120 days of its execution. SMS Integrated Facility Services Private Limited, the buyer, does not belong to the promoter/promoter group/group companies. The sale of the division does not fall under related party transactions or the Scheme of Arrangement.