Awfis IPO subscription details on day 3

24 May 2024 , 11:14 AM

Awfis Space Solutions’ initial public offering (IPO) has seen strong investor demand, with the issue being oversubscribed. The bidding period for the IPO commenced on May 22 and is set to conclude on May 27. The company aims to raise ₹598.93 Crore through this IPO.

At the time of writing, on day 3 of subscription, the retail investor portion was subscribed 14.92 times, non-institutional investor portion 9.79 times, the QIB is subscribed at 0.32 times, and the employee portion 8.17 times.

Awfis Space Solutions is recognized as India’s largest provider of flexible workspace solutions for small and medium enterprises (SMEs).

IPO allotment is expected to be finalized on May 28, with the shares expected to list on both BSE and NSE on May 30.

The IPO includes a fresh issue of 33 lakh equity shares, aggregating to ₹128 Crore, and an offer for sale (OFS) of 1.23 Crore shares, valued at ₹470.93 Crore. The price band for the IPO is set at ₹364 to ₹383 per share. The minimum bid lot size is 39 shares.

The issue includes a reservation of up to 57,636 shares for employees, offered at a discount of ₹36 per share.

ICICI Securities, Axis Capital, IIFL Capital Services, and Emkay Global Financial Services Ltd are acting as the book running lead managers for the IPO. Bigshare Services Pvt Ltd has been appointed as the IPO registrar.

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