Awfis Space Solutions, a co-working solutions provider, has reported an insider trading violation involving one of its senior executives. Anindita Seal Sarkar, the Vice President of sales, was found to have sold 15,764 shares and subsequently bought 25 equity shares without obtaining proper clearance, violating the company’s insider trading policies.
On 30 September Sarkar sold 15,764 shares at Rs 693.02 each, totaling Rs 1.07 crore. She later purchased 25 shares at Rs 698.44 each, amounting to Rs 17,461. The violation was discovered during a routine review on November 26, 2024, prompting Awfis to notify the Chairman of the Audit Committee and the Chairman of the Board.
In response, Awfis stated in a stock exchange filing, "The Audit Committee shall take action as may be deemed fit in line with the requirements of the Code of Conduct."
The company, which provides office spaces and infrastructure services for startups, SMEs, and large corporations, has shown strong revenue growth, reporting a 40.5 per cent year-on-year increase in revenue for Q2 FY25. Revenue from operations rose to Rs 292.38 crore, compared to Rs 208.15 crore in the same quarter last year.
