Awfis Space Solutions IPO listing today: Shares list at 13% premium to issue price

Awfis Space Solutions IPO share price: Awfis Space Solutions made a strong debut on the stock exchanges, with its shares listed at a premium of more than 13% on Thursday, May 30.

Awfis Space Solutions shares are listed at a premium of 13.5% against the issue price of ₹383 apiece on the National Stock Exchange (NSE). It gained 12.8% on listing on the BSE.

The issue, which was open for subscription from May 22 to May 27 and had set a price band of ₹364-₹383 per share, was subscribed 108.56 times, with investors bidding for 93.68 crore equity shares against 86.29 lakh shares on offer.

The portion set aside for non-institutional investors was booked 129.81 times, while the qualified institutional buyers portion was subscribed 116.95 times. Retail investors also bid for 53.23 times the portion reserved for them.

The ₹598.93 crore book-built issue is a mix of fresh issuance of shares worth ₹128 crore and an OFS (offer for sale) component of 1.2 crore shares.

Of the total net proceeds, the company will utilise ₹42 crore for funding capital expenditure towards the establishment of new centres, ₹54.3 crore towards working capital requirement and for general corporate purposes.

Emkay Global Financial Services Limited, IIFL Securities Limited, Axis Capital Limited and ICICI Securities Limited were book-running lead managers for the issue.

About Awfis Space Solutions

For the financial year 2023-24, the company posted a net loss of ₹46.6 crore compared to ₹57.2 crore net loss in the previous fiscal. The revenue from operations for the same period stood at ₹545.2 crore from ₹257 crore in FY22.

EBITDA increased 127.7% year-on-year to ₹155.6 crore, with margin growing 190 basis points (bps) to 28.5% in FY23.