Awfis Space Solutions IPO Sees 4.29x Subscription on Day 2

On the second day of the bidding process for the Awfis Space Solutions Limited IPO was subscribed 4.29 times. The retail portion was subscribed to 12.32x, 0.32x in Qualified Institutional Buyers (QIB), 6.83x in Non-Institutional Investors (NII), and 6.85x in the employees category.

The IPO opened yesterday, May 22, 2024, and will close on May 27, 2024. Its listing is expected on Thursday, May 30, 2024, on the NSE and BSE.

Here’s the day-wise subscription details:

On May 23, 2024, unlisted shares of Awfis Space Solutions Ltd were trading at ₹127 in the grey market.

Awfis Space Solutions Ltd’s IPO price range has been set at ₹364 to ₹383 per share. The minimum lot size is 39 shares, and the minimum investment required by retail investors is ₹14,937. The IPO comprises both a fresh issue and an Offer For Sale (OFS), with a total issue size of 15,637,736 shares aggregating up to ₹598.93 crore.

The object of the Awfis Space Solutions Limited IPO is to fund the capex to establish new centres, the company’s working capital requirements, and general corporate purposes.

On May 21, 2024, the company’s IPO committee along with the book-running lead managers, finalised the allocation of 70,13,483 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹383 per share.

About Awfis Space Solutions Ltd

Awfis Space Solutions Ltd provides a range of flexible workspace solutions, including customised office spaces, individual flexible desk needs, and more, for multinational companies, large companies, start-ups, and SMEs. Their offerings cater to various seating requirements, from single seats to multiple seats, which clients can book on an hourly basis or for extended periods.

Awfis Space Solutions Ltd also provides other services, such as IT support, food and beverage, and infrastructure amenities, such as storage and meeting arrangements.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.