Awfis Space Solutions IPO opened for subscription on Wednesday aiming to raise ₹598.93 crores. The Awfis IPO, which opens for subscription on May 22, and closes on May 27, comprises a fresh issue of 0.33 crore shares aggregating to ₹128.00 crores and an offer for sale of 1.23 crore shares aggregating to ₹470.93 crores.

Awfis IPO Subscription Status

As of 11:33 am on Wednesday, the subscription status for the Awfis IPO stands at 0.55 times. The Retail Individual Investors (RIIs) category has been oversubscribed by 2.21 times, while the Non-Institutional Investors (NIIs) category stands at 0.52 times. The Qualified Institutional Buyers (QIBs) category, however, has not seen any subscriptions yet.

The IPO allocation structure reserves 29.89% of the shares for QIBs, 14.94% for NIIs, and 9.96% for RIIs and the rest for anchor investors.

Awfis IPO GMP

The Awfis IPO GMP currently stands at ₹150. Considering the upper price band of the IPO, the expected listing price is ₹533, indicating a potential gain of around 39.16% on listing. However, it’s important to remember that while GMPs can provide some insight into market sentiment, they should not be considered as the sole predictor of a stock’s performance upon listing.

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Awfis IPO Details

The price band for the Awfis Space Solutions IPO is set at ₹364 to ₹383 per share, with a minimum lot size of 39 shares. The net proceeds from the IPO will be used for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes. The shares of Awfis Space Solutions are tentatively scheduled to be listed on both the BSE and NSE on Thursday, May 30, 2024.

Before the IPO launch, Awfis Space Solutions successfully secured ₹268.6 crores from anchor investors, allocating 70,13,483 equity shares at ₹383 per share. Notable participants included Goldman Sachs Funds, East Bridge Capital Master Fund, Eastspring Investments, and HSBC Global Investment Funds.

About Awfis Space Solutions

Established in December 2014, Awfis Space Solutions is a workspace solution provider in India. The company offers a wide range of flexible workspace solutions, catering to the needs of individuals, start-ups, SMEs, and large corporations. As of December 31, 2023, the company operates 169 centres across 16 cities in India, with a total of 105,258 seats and a chargeable area of 5.33 million sq. ft.

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