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Awfis Space Solutions IPO Achieves 11.41x Subscription on Day 3

24 May 20243 mins read by Angel One
On Day 3, Awfis Space Solutions Limited IPO was subscribed 11.41x. The IPO will close on May 27, 2024, and will likely be listed on May 30.
Awfis Space Solutions IPO Achieves 11.41x Subscription on Day 3
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On the third day, Awfis Space Solutions Limited IPO was subscribed 11.41 times. The retail portion was subscribed to 21.14x, 3.39x in Qualified Institutional Buyers (QIB), 21.00x in Non-Institutional Investors (NII), and 10.46x in the employees category.

Awfis Space Solutions IPO opened on May 22, 2024, and will close on May 27, 2024. The allotment for the IPO is expected to be finalised on May 28. It is expected to be listed on the exchanges on the NSE and BSE 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 4.29x. This comprised QIB’s subscription of 0.32x, NIIs 6.83x, employee 6.85x and retail 12.32x.

On May 24, 2024, unlisted shares of Awfis Space Solutions Ltd were trading at ₹105 in the grey market.

Awfis Space Solutions Ltd has set the price range for its IPO at ₹364 to ₹383 per share, with a minimum lot size of 39 shares. Retail investors need to invest a minimum of ₹14,937. The IPO includes 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 company’s working capital requirements, the capex to establish new centres and general corporate purposes.

On May 21, 2024, the company’s IPO committee 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 customised office spaces, individual flexible desk needs, etc., for multinational companies (MNCs), start-ups, large companies, and SMEs. The company provides various seating requirements, such as single seats to multiple seats, which can be booked by the clients on an hourly basis or on a yearly basis.

Awfis Space Solutions Ltd also offers other services, such as food and beverage, IT support, 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.

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