Awfis Space Solutions IPO Subscription Hits 108.17x on Last Day

On Day 4, Awfis Space Solutions Limited IPO was subscribed 108.17 times. The retail portion was subscribed to 53.22x, 116.95x in Qualified Institutional Buyers (QIB), 129.27x in Non-Institutional Investors (NII), and 24.67x in the employees category.

Awfis Space Solutions IPO opened on May 22, 2024, and closed today. The IPO allotment is set to be finalised by May 28, with anticipated listing on both NSE and BSE exchanges on Thursday, May 30, 2024.

Here’s the day-wise subscription details:

• On Day 1 of subscription, May 22, the IPO was subscribed 2.07x in total. QIBs subscribed 0.30x, NIIs 2.79x, and employees 3.64x, while retail investors subscribed 6.26x.
• On Day 2 of subscription, the IPO was subscribed 4.33x. This comprised QIB’s subscription of 0.32x, NIIs 6.87x, employee 6.92x and retail 12.46x.
• On Day 3, the IPO was subscribed 11.45x. This comprised QIB’s subscription of 3.39x, NIIs 21.05x, employee 10.51x and retail 21.26x.

On May 27, 2024, unlisted shares of Awfis Space Solutions Ltd were trading at ₹127 in the grey market.

Awfis Space Solutions Ltd has set the IPO price range at ₹364 to ₹383 per share, with a minimum lot size of 39 shares. Retail investors must invest a minimum of ₹14,937. The IPO comprises both a fresh issue and an Offer For Sale (OFS), totalling 15,637,736 shares and amounting to ₹598.93 crore.

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

On May 21, 2024, the IPO committee of the company, 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 several flexible workspace solutions, including customised office spaces, individual flexible desk requirements, and more, for MNCs, large companies, SMEs, and start-ups. The company offers different seating requirements, such as single seats or multiple seats, which can be booked by the clients on an hourly or yearly basis.

Awfis Space Solutions Ltd provides other services as well, which include IT support, food and beverage, and infrastructure amenities, like 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.