Awfis Space Solutions Limited IPO Subscription Reaches 2.06x on Day 1

On the first day of the bidding process, Wednesday, May 22, 2024, the Initial Public Offer (IPO) of Awfis Space Solutions Limited was subscribed 2.06 times. The retail portion was subscribed to 6.19x, while 0.30x in Qualified Institutional Buyers (QIB), 2.78x in the Non-Institutional Investors (NII) and 3.61x in the employees category. The IPO will close on Monday, May 27, 2024, while its listing is expected to occur on Thursday, May 30, 2024 on both NSE and BSE.

On May 22, 2024, unlisted shares of Awfis Space Solutions Ltd were trading at ₹135 in the grey market.

The price band of the Awfis Space Solutions Ltd IPO has been set at ₹364 to ₹383 per share. The lot size is 39 shares, and the minimum investment required by retail investors is ₹14,937. The IPO is 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 capital expenditure towards the establishment of new centres
• To fund the company’s working capital requirements
• For general corporate purposes

On May 21, 2024, the IPO committee of the company and 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 offers a comprehensive range of flexible workspace solutions, such as individual flexible desk needs, customised office spaces, and more for large companies, multinational companies, start-ups and small and medium enterprises (SMEs). The company’s flexible workspace solutions cater to various seat cohorts ranging from single-seat

to multiple seats, which can be contracted by their clients on an hourly basis or for years.

Awfis Space Solutions Ltd additionally offers other services, including food and beverage provisions, IT support, and infrastructure amenities ranging from storage to event hosting 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.