Awfis Space Solutions IPO to open on May 22

16 May 2024 , 01:53 PM

Awfis Space Solutions backed by Ashish Kacholia and ChrysCapital is all set to open its initial public offer (IPO) on May 22 and will conclude on May 27. The company has fixed the issue price band at ₹364-383 apiece for the upcoming share sale.

Awfis Space Solutions IPO important dates:

• Anchor book opening date: Tuesday, May 21, 2024
• IPO open date: Wednesday, May 22, 2024
• IPO close date: Monday, May 27, 2024
• Basis of allotment: Tuesday, May 28, 2024
• Initiation of refunds: Wednesday, May 29, 2024
• Credit of shares to demat: Wednesday, May 29, 2024
• Listing date: Thursday, May 30, 2024

Lot size:

Investors who want to apply for the Awfis Space Solutions IPO can bid for a minimum of 39 shares and its multiples thereof.

Issue details:

The total size of the IPO is ₹598.93 crore. At the upper end of the price band, the company values at ₹2,659 Crore.

• Fresh issue: ₹128 Crore
• Offer-for-sale (OFS): ₹470.93 Crore

Objects of the IPO:

The company will be using net proceeds towards:

• Funding capital expenditure towards the establishment of new centres;
• Funding the working capital requirements and
• General corporate purposes

Awfis Space Solutions IPO reservation:

• Qualified institutional investors (QIB): 75% of net issue
• Non-institutional investors (NII): 15% of net issue
• Retail investors: 10% of net issue
• The company has also reserved shares worth ₹2 Crore for its employees.

Financials:

The New Delhi-based company has posted a net loss of ₹46.64 Crore compared to the previous year’s loss of ₹57.2 Crore. the company’s revenue from operations witnessed a surge during the same period, more than doubling to ₹545.3 Crore.

Lead Managers:

ICICI Securities, Axis Capital, IIFL Securities and Emkay Global Services are the book-running lead managers for the IPO. Bigshare Services Pvt Ltd is the registrar for the same.

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