Awfis Space Solutions raises ₹268.6 Crore from anchor investors

22 May 2024 , 08:28 AM

Awfis Space Solutions has raised ₹268.6 Crore from institutional investors through the anchor book of its initial public offering (IPO) on May 21, one day before the official issue opening.

As per the exchange filing, the company has allocated 70,13,483 equity shares to anchor investors at a price of ₹383 per share.

Prominent institutional investors participated in this anchor book allocation, including Ashoka Whiteoak ICAV, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Axis Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Quant Mutual Fund, Invesco India, Motilal Oswal Mutual Fund, Edelweiss, and Bandhan Mutual Fund.

Out of the total allocation, 37,53,968 equity shares were allotted to 12 domestic mutual funds across 19 schemes, as stated by Awfis in its exchange filing.

Additionally, global investors such as Goldman Sachs Funds, East Bridge Capital Master Fund, Eastspring Investments, and HSBC Global Investment Funds also participated in the anchor book.

Awfis Space Solutions aims to raise a total of ₹598.93 Crore through the IPO, offering 1.56 Crore equity shares at the upper price band. The IPO comprises a fresh issue of shares worth ₹128 Crore and an offer-for-sale (OFS) of 1.22 crore equity shares, valued at ₹470.93 Crore, from existing shareholders, including Peak XV Partners Investments V, Bisque, and Link Investment Trust.

The IPO is open for subscription from May 22 to May 27, with a price band set at ₹364-₹383 per share. The net proceeds from the fresh issue will be utilized for the establishment of new centres, working capital requirements, and general corporate purposes.

Awfis, the largest flexible workspace solutions provider in India as of December 2023, boasts 169 centres across 16 cities. ICICI Securities, Axis Capital, IIFL Capital Services, and Emkay Global Financial Services are the book-running lead managers (BRLM) of the IPO.