The retail segment has received 21.11 subscriptions, while non-institutional investors have obtained 20.99 subscriptions. Qualified institutional buyers’ portion has garnered 3.39 times the subscriptions, and the employee portion has been booked 10.48 times.
On May 23, a large number of retail applicants applied online through platforms like Google Pay, Upstox, and Zerodha for the Awfis Space Solutions IPO. The subscription status on the BSE stood at 4.28 times.
Due to Buddh Purnima on May 23, which was a bank holiday, and SEBI being closed, the offers were accepted, but bank bids were absent. These bids were aggregated on May 24, officially marking Day 2 of the Awfis Space IPO.
Awfis Space Solutions Ltd, founded in December 2014, offers flexible workspace solutions catering to individuals, start-ups, SMEs, and major enterprises. Its main offering includes co-working spaces along with customised office spaces, mobility solutions, and flexible workplaces. Additionally, the company provides infrastructure services, food and beverage, event hosting, and IT support.
Arun Kejriwal, founder of Kejriwal Research and Investment Services, notes that the high subscription is partly due to the successful listing of Go Digit, instilling confidence in investors. Although the company is witnessing growth, achieving break-even remains pending, with expectations for it to happen this financial year.
Grey Market Premium (GMP) Update
Awfis Space Solutions IPO GMP today stands at +108, indicating a premium of ₹108 in the grey market. Based on this, the estimated listing price of Awfis Space Solutions share is projected at ₹491 apiece, 28.2% higher than the IPO price of ₹383.
Grey market activity over the past 11 sessions shows an upward trend in IPO GMP, indicating anticipation for a strong listing.
Awfis Space IPO Details
The IPO issue size comprises a fresh issue of ₹128 crore and an offer-for-sale (OFS) of up to 12,295,699 equity shares by selling shareholders. The IPO size is worth ₹599 crore.
Proceeds from the IPO will be utilized for capital expenditure for new centres, working capital requirements, and general corporate purposes.
ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd, and Emkay Global Financial Services Ltd are the book running lead managers, and Bigshare Services Pvt Ltd is the registrar.
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