Awfis Space Solutions is offering its shares to the public at a price band of ₹364 to ₹383 per share. The minimum investment for retail investors is ₹14,937, with each lot comprising 39 shares. At the upper end of the price range, the IPO is valued at ₹598.93 crore, including a fresh issue of 33 lakh equity shares worth ₹128 crore and an offer for sale (OFS) of 1.23 crore shares worth ₹470.93 crore.
Prior to the IPO opening, the company secured ₹268.62 crore from anchor investors on May 21. The final allotment is expected to be decided on May 28, with the listing scheduled for May 30 on both the BSE and NSE stock exchanges.
Awfis Space Solutions plans to use the proceeds from the IPO to fund the establishment of new centers and meet working capital requirements. ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global Financial Services are serving as the book running lead managers, while Bigshare Services Pvt Ltd is the IPO registrar.
Currently, the grey market premium (GMP) for Awfis Space Solutions IPO is ₹165 per share, indicating a premium of 43% over the issue price of ₹383 per share.
Analyst Recommendations
Most analysts are optimistic about the Awfis IPO due to the company’s market leadership, potential for growth, and strong financials. Anand Rathi recommends a “Subscribe – Long Term” rating, citing the company’s shift to an asset-light model and its large Total Addressable Market (TAM).
However, Swastika Investmart advises a neutral stance, expressing concerns about Awfis’s past negative cash flow and the competitive landscape. Master Capital Services suggests investing for potential listing gains, despite the company’s previous losses.
SMIFS recommends subscribing to the IPO for its expected double-digit growth in FY25 and improved bottom line. Ventura Securities also recommends subscribing, highlighting Awfis’s market leadership, growth potential, and strong financial performance.
Investors should carefully consider these recommendations and conduct their own research before deciding whether to subscribe to the Awfis Space IPO.
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