Awfis Space Solutions’ IPO saw strong interest on the second day of bidding on May 23, being oversubscribed 4.19 times. The IPO received bids for 2.75 Crore shares against 86.29 lakh shares on offer.
At the time of writing, on day 2 of subscription, the retail investor portion was subscribed 12.03 times, non-institutional investor portion 6.67 times, the QIB is subscribed at 0.32 times, and the employee portion 6.66 times.
The IPO bidding will close on Monday, May 27.
The ₹599-Crore IPO includes a fresh issue of shares worth ₹128 Crore and an offer-for-sale (OFS) of 1,22,95,699 equity shares by existing shareholders. The price band for the IPO is set at ₹364-383 per share. Investors can apply for a minimum of 39 shares and in multiples thereafter.
Shares worth ₹2 Crore are reserved for eligible employees, who receive a discount of ₹36 per share. Of the net issue, 75% is reserved for QIBs, 15% for non-institutional investors, and 10% for retail investors.
Awfis Space Solutions raised over ₹268.61 Crore from anchor investors by allotting 70.13 lakh equity shares to 32 funds at ₹383 per share.
The company reported a net loss of ₹18.94 Crore on revenue of ₹633.69 Crore for the nine months ending December 31, 2023. For FY23, it reported a net loss of ₹46.64 Crore on revenue of ₹565.79 Crore.
Awfis Space Solutions, established in 2014, provides workspace solutions across India, catering to startups, SMEs, and large corporates, along with ancillary services like catering, IT assistance, and infrastructure support.
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