Awfis Space Solutions IPO opens on May 22, price band to be announced tomorrow

Awfis Space Solutions Limited IPO price band will be announced on Thursday, May 16, ahead of the launch next week. The co-working space provider’s initial public offering (IPO) will open for subscription from May 22.

Awfis Space Solutions Limited IPO dates

Awfis Space Solutions IPO subscription will open on May 22 and will close on May 27. The IPO share allotment status is likely to take place on May 28.

Awfis Space Solutions Limited listing date is scheduled as May 30 with the shares expected to get listed on the NSE and BSE.

Awfis Space Solutions IPO issue size and other key details

The book-building issue comprises a fresh issue of shares amounting to ₹128 crore and an OFS (Offer for Sale) component of 1.23 crore shares.

Not less than 75% of the total shares of the Awfis Space Solutions IPO have been reserved for QIBs (Qualified Institutional Buyers). The company has set aside 10% of the net issue for retail investors and 15% for non-institutional investors.

The book running lead managers for Awfis Space Solutions IPO are ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd and Emkay Global Financial Services Ltd. The registrar for the mainboard public issue is Bigshare Services Pvt Ltd.

The company will use the money raised via the IPO for the funding of capital expenditure towards establishment of new centres and for financing the working capital requirements of the company. The funds will also be used for fulfilling general corporate purposes.

Awfis Space Solutions IPO Promoters

Amit Ramani and Peak XV are the promoters of the working space solutions provider. The two promoters collectively hold 27,444,403 equity shares of the company as per the Red Herring Prospectus (May 15) of the company.

About Awfis Space Solutions Ltd

The company was incorporated in 2014 and works as a workspace solution provider. Awfis Space Solutions is engaged in providing flexible workspace solutions to a diverse clientele.