The initial public offering of Awfis Space Solutions Ltd. has been subscribed 11.41 times on day three, led by demand from retail and non-institutional investors. The company is looking to raise Rs 598.9 crore through the maiden share sale.
The IPO was subscribed 2.02 times on day 1 and 4.28 times on day two. The four-day IPO consists of a fresh issue of equity shares, aggregating to Rs 128 crore; and an offer for sale of up to 1.23 crore equity shares, aggregating to Rs 470.93 crore by certain shareholders.
The flexible workspace solutions company announced a price range of Rs 364–383 per equity share and the minimum lot size for a subscription is 39 shares. After a successful public offering, the company will be listed on the National Stock Exchange and the BSE.
The company raised Rs 268 crore from anchor investors, ahead of its initial public offering.
ICICI Securities Ltd., Axis Capital Ltd., IIFL Securities Ltd. and Emkay Global Financial Services Ltd. are the book-running lead managers for the issue.
Issue Details
Issue opens: May 22.
Issue closes: May 27.
Issue price: Rs 364–383 per share.
Fresh issue: Rs 128 crore.
Offer for sale: Rs 470.9 crore.
Total issue size: Rs 598.9 crore.
Listing: BSE and NSE.
Business
Awfis provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises, as well as for large corporates and multinational corporations.
The company has 169 total centres across 16 cities in India, with 1.05 lakh total seats and total chargeable area of 5.33 million square feet. Of this, 31 centres and 25,312 seats are under fit-out, with a chargeable area aggregating to 1.23 million square feet.
Subscription Status: Day 3
The IPO has been subscribed 11.41 times as of 5 p.m. on Friday.
Institutional investors: 3.39 times.
Non-institutional investors: 20.99 times.
Retail investors: 21.11 times.
Employee reserved: 10.48 times.
RECOMMENDED FOR YOU
Exports May Take Time To Bounce Back, Says TTK Prestige MD
Nov 05, 2024
Paras Defence & Space Technologies Q2 Results: Net Profit Rises 45%, Beats Estimates
Oct 28, 2024
Government Approves Establishment Of Rs 1,000 Crore Venture Capital Fund For Space Sector Startups
Oct 24, 2024
SEBI May Come Up With Proposals On SME IPO Oversight This Month
Oct 22, 2024
POPULAR