Awfis Space Solutions IPO aiming to raise ₹598.93 crores, opened for subscription on May 22 and is set to close on May 27. The Awfis IPO 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 Space Solutions IPO Subscription Status
As of 1:24 pm on the final day of bidding, the total subscription status stands at 37.96 times. The Retail Individual Investors (RIIs) category has been oversubscribed by 38.59 times, while the Non-Institutional Investors (NIIs) category stands at 81.73 times. The Qualified Institutional Buyers (QIBs) category has seen a subscription of 16.10 times.
The IPO allocation structure has reserved 29.89% of the shares for QIBs, 14.94% for NIIs, and 9.96% for RIIs, ensuring a balanced participation across investor categories.
Awfis Space Solutions IPO GMP
As of now, the Awfis IPO GMP is reported at 120, down from the ₹150 reported when the IPO opened. Considering the upper price band of the IPO, the expected listing price is ₹503, indicating a potential gain of around 31% on listing. However, it’s important to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be considered as the sole factor behind the company’s performance upon listing.
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Awfis Space Solutions IPO Details
The company intends to use the net proceeds from the offering for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes.
Prior to its IPO launch for public subscription on Wednesday, May 22, the company successfully secured funds from anchor investors. This allocation was made on Tuesday, May 21 wherein equity shares were allotted to anchor investors.
Notable participants in the anchor round include both foreign and domestic institutions, such as White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures, Bajaj Alliance Life Insurance, Aditya Birla Sun Life Insurance, SBI General Insurance, BCAD, Singularity Growth Opportunity Fund, and Authum Investments.
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