Check live subscription details of Awfis Space Solutions IPO on day 2

23 May 2024 , 11:43 AM

Awfis Space Solutions’ ₹599-crore initial public offer (IPO) experienced a robust start on May 22, with the issue being subscribed 2.03 times on the first day of bidding. By 11:35 AM on the second day, retail investors had shown significant interest, purchasing 8.68 times their allotted quota. Non-institutional investors (high net-worth individuals) bought 4.08 times their reserved portion, while qualified institutional buyers (QIBs) picked up 31% of their allocated shares. The portion set aside for employees was subscribed 5.08 times.

The IPO consists of a fresh issuance of shares worth ₹128 crore and an offer-for-sale (OFS) of 1,22,95,699 equity shares by existing shareholders. The price band for the issue has been set at Rs 364-383 per share.

Ahead of the public issue, Awfis Space Solutions mobilized ₹268.6 crore from institutional investors via the anchor book on May 21. The company finalized the allocation of 70,13,483 equity shares to anchor investors at ₹383 per equity share.

Founded in 2014, Awfis Space Solutions Limited specializes in providing flexible workspace solutions across India. The company caters to startups, small and medium-sized enterprises (SMEs), and large corporates, offering a variety of workspace options. In addition to workspace facilities, Awfis provides ancillary services such as catering, IT assistance, and infrastructure support.

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