Awfis Space Solutions IPO Oversubscribed by 108 Times

28 May 2024 , 09:00 AM

With significant involvement from institutional investors, co-working space operator Awfis Space Solutions’ initial public offering was subscribed 108.17 times on the closing day of the offer on Monday. Based on NSE data, bids were received for 93,34,36,374 shares in the IPO whereas 86,29,670 shares were offered.

Qualified Institutional Buyers (QIBs) placed bids for 116.95 times their portion, compared to 129.27 times subscriptions for the non-institutional investors component recieved. Retail Individual Investors (RIIs) drew 53.23 times the subscription to their quota.

On Wednesday, bidding opened for the fresh issue of up to ₹128 Crore in the initial public offer (IPO) and the sale of up to 1,22,95,699 equity shares.

The IPO would be priced between ₹364 and ₹383 per share.

On the first day of bidding on Wednesday, Awfis Space Solutions’ initial public offering (IPO) was fully subscribed.

Last Tuesday, Awfis Space Solutions Ltd announced that it has acquired little more than ₹268 Crore from anchor investors.

The Fresh issue’s proceeds will be applied to general company purposes, working capital needs, and capital expenditures for the establishment of new centres.

From individual flexible desk requirements to specially designed office spaces for corporates, Awfis offers flexible workplace solutions.

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