Awfis Space Solutions IPO receives strong demand, subscribed 11.41 times till Day 3 driven by strong retail demand

The initial public offering (IPO) of Awfis Space Solutions Ltd was subscribed more than 11 times on the third day of bidding on Friday, May 24.

The ₹598.93-crore public issue of the office space solutions provider received bids for more than 9.74 crore shares against 86.29 lakh shares on offer, leading to an overall subscription of 11.41 times, the NSE data till 5:00 pm showed.

The public issue received a healthy response across categories led by strong demand from retail investors. The initial public offering was booked 20.90 times in the retail segment with bids for more than 3.25 crore shares against 15.58 lakh shares on offer. The NIIs’ (Non Institutional Investors) category was booked 20 times with applications for more than 4.84 crore shares against 23.37 lakh shares on offer. The issue was subscribed 3.39 times in the Qualified institutional buyers’ (QIBs) category with bids for 1.47 crore shares against 46.75 lakh shares reserved for the category.

The employees of the company applied for 5.67 lakh shares against 57,636 shares set aside for them, subscribing the segment 9.84 times.

Awfis Space Solutions IPO subscription is open from May 22 to May 27.

To know more and apply for Awfis Space Solutions IPO , click here

Awfis Space Solutions IPO details

The book-built issue comprises a fresh issue of 33 lakh shares worth ₹128 crore and an OFS (Offer-For-Sale) component of 1.23 crore shares amounting to ₹470.93 crore.

Awfis Space Solutions IPO price band has been fixed at ₹364 to ₹383 per share. The minimum lot size is 39 shares for retail investors, which translates to a minimum application amount of ₹14,937.

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

Awfis Space Solutions IPO share allotment and listing

Awfis Space Solutions IPO shares allotment status is likely to be finalised by Tuesday, May 28. Investors will be able to check the status of allotment on the NSE and BSE websites. Alternatively the share allotment status can also be checked on Bigshare Services Pvt Ltd’s website.

Shares of Awfis Space Solutions are likely to list on the NSE and BSE on May 30.

About Awfis Space Solutions

Awfis Space Solutions, incorporated in 2014, is a leading workspace solution provider. Awfis Space Solutions offers a diverse range of workspace services and caters to the needs of various clients such as individuals, startups, SMEs, and large corporations.

The company provides co-working spaces, flexible workspaces and mobility solutions. The company also provides supporting services such as food and beverages, IT support, infrastructure services and event hosting. The company proposes to use the money raised via the IPO for establishing new centres and for funding other working capital requirements.