Awfis Space Solutions, a leading co-working solutions provider, has uncovered an insider trading violation by one of its senior executives. The company has initiated actions following the breach of its insider trading policies.
Anindita Seal Sarkar, Vice President of Sales at Awfis, was found guilty of trading shares without proper clearance. On September 30, 2024, Sarkar sold 15,764 shares at a price of ₹693.02 each, totaling ₹1.07 crore. Shortly afterward, she purchased 25 shares at ₹698.44 each, amounting to ₹17,461.
This activity was flagged during a routine compliance review conducted on November 26, 2024. The matter was escalated to the Chairman of the Audit Committee and the Board for necessary action.
Awfis Response on Insider Trading
In a statement filed with the stock exchange, Awfis announced, “The Audit Committee shall take action as may be deemed fit in line with the requirements of the Code of Conduct.” The company has reiterated its commitment to upholding strict compliance with insider trading regulations.
Despite the incident, Awfis continues to demonstrate strong business growth. For Q2 FY25, the company reported a 40.5% year-on-year increase in revenue. Revenue from operations rose to ₹292.38 crore compared to ₹208.15 crore during the same period in the previous year.
About Awfis
Awfis Space Solutions is a leading provider of co-working spaces and innovative infrastructure services, catering to a diverse clientele including startups, small and medium enterprises (SMEs), and large corporations. The company has established itself as a key player in the rapidly growing flexible workspace market by offering state-of-the-art facilities and fostering a community-driven environment.
Awfis ensures seamless operations through technology-driven solutions, personalized services, and strategically located centers in major business hubs. With its robust portfolio and commitment to innovation, Awfis continues to redefine the workspace experience, empowering businesses of all sizes to thrive in a dynamic and competitive market.
What’s Next?
The Audit Committee will now determine the appropriate course of action against Sarkar. The incident underscores the importance of strict compliance with insider trading regulations and highlights Awfis’ proactive approach to maintaining corporate integrity.
