Awfis Space Solutions IPO fully subscribed on day 1, retail investors bid highest; check latest GMP, subscription status

Awfis Space Solutions IPO: The initial public offering (IPO) of Awfis Space Solutions Limited opened for subscription on Wednesday, May 22 and was fully subscribed at 2.03 times by the end of today’s session, according to BSE stock exchange data. The mainboard IPO of the workplace solution provider will remain open for investors till Monday, May 27, 2024. 

Awfis Space Solutions offers a wide range of flexible workspace solutions, from individual flexible desk requirements to tailored office spaces for start-ups, small and medium companies (SMEs), major organisations, and multinational corporations. The company’s core solutions include co-working spaces, flexible workspaces, custom office spaces, and mobility solutions. 

The company has reserved a total of 1,558,551 equity shares or 9.96 per cent to retail investors, 29.89 per cent for qualified institutional buyers (QIBs), and 14.94 per cent for non-institutional investors (NIIs) in the issue. 7,013,483 equity shares or 44.83 per cent are also set aside for anchor investors.

Also Read: Awfis Space Solutions IPO opens today. Check GMP, subscription status, Should you subscribe?

Awfis Space Solutions IPO Subscription Status

According to BSE data, Awfis Space Solutions IPO was subscribed 2.03 times by the end of the first day of subscription. The mainboard IPO received 1,74,77,187 share applications against offered 86,29,670 shares on Wednesday. Retail investors bid the highest as the portion reserved for them was booked 6.04 times.

The NII portion received 35,86,32,000 shares against 4,60,000 shares offered and the portion was booked 2.76 times. The portion reserved for QIBs was booked 0.03 per cent times on the first day, according to stock exchange data. 

Awfis Space Solutions IPO Details

At the upper end of the price band Awfis Space IPO size is worth 598.93 crore, which comprises a combination of fresh issue of 33 lakh equity shares aggregating to 128 crore and an offer for sale (OFS) component of 1.23 crore shares aggregating to 470.93 crore. Awfis Space Solutions IPO price band is set at 364 to 383 per share. The IPO lot size is 39 shares and the minimum investment amount required by retail investors is 14,937.

Awfis Space IPO allotment is expected to be finalized on May 28, and the listing date is May 30. The equity shares of Awfis Space Solutions will be listed on both the stock exchanges, BSE and NSE. The company proposes to utilise the net issue proceeds for funding capital expenditure towards the establishment of new centres and working capital requirements.

ICICI Securities, Axis Capital, IIFL Securities and Emkay Global Financial Services are the book running lead managers of the Awfis Space Solutions IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

The company’s promoters include Amit Ramani, an individual promoter, and Peak XV, a promoter selling shareholder. As of the date of this Red Herring Prospectus (May 14), the promoters together held 27,444,403 equity shares, representing 41.05 per cent of their company’s pre-offer issued, subscribed, and paid-up equity share capital on a fully diluted basis.





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Published: 22 May 2024, 06:21 PM IST

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