Awfis Space Solutions IPO opens for subscription; Check details here

22 May 2024 , 12:08 PM

The initial public offering (IPO) of flexible workspace solutions company Awfis Space Solutions Ltd opened for public subscription on May 22 and will conclude on May 27. The IPO price band is set at ₹364 to ₹383 per share and the minimum lot size for an application is 39 shares. Click here to subscribe to the IPO.

In the first two hours, the issue has received bids for 54,20,844 shares out of 86,29,670 equity shares available for subscription, i.e., 0.63 times. The retail portion of the IPO has been fully subscribed with 2.50 times subscription followed by non-institutional investors, who applied for 0.61 times of the shares against the quota available. However, the qualified institutional investors’ portion has not received any subscription yet.

The company has also reserved a portion for its employees which have been subscribed 1.90 times so far.

The ₹598 Crore IPO is a combination of fresh issue worth ₹128 Crore and an offer for sale (OFS) of ₹470.93 Crore.

The company intends to use fresh issue towards funding the establishment of new centres, working capital requirements and other general corporate purposes.

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