New Delhi:
The initial public offering (IPO) of Awfis Space Solutions Limited, a workplace solutions provider, is set to launch soon. The issue price for the company’s IPO is set between Rs 364-383 per share.
The IPO will open on May 22 and close on May 27, with anchor investors able to bid on May 21.
The gray market premium for the IPO is Rs 100, suggesting the IPO may list at around Rs 483, which is a 26% premium over the issue price.
New Shares and Offer for Sale
New shares worth Rs 128 crore will be issued under the IPO. This includes an offer for sale (OFS) of 1.23 crore shares, making the total size of the IPO Rs 599 crore.
Promoters and shareholders participating in the OFS include Peak XV Partners V, Bisq Limited, and Link Investment Trust.
Peak XV Partners will sell 6.6 million shares, Bisq will sell 5.6 million shares, and Link Investment Trust will sell 85,201 million shares.
The company has allocated 75% of the IPO for qualified institutional bidders (QIBs) and 15% for non-institutional investors.
The managers of the issue are ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and MK Global Financial Services Limited.
IPO Allocation and Management
According to the company, 75% of the IPO is reserved for qualified institutional bidders (QIBs), while 15% is reserved for non-institutional investors.
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and MK Global Financial Services Limited are the managers of the issue.
Company’s Plans and Financials
Awfis Space Solutions plans to use the proceeds from the fresh issue of shares for business expansion and setting up new centers.
Additionally, the funds will be used for working capital needs and general corporate purposes.
The company reported an operating revenue of Rs 616 crore by December 2023, but incurred a net loss of Rs 18.94 crore in the nine months ending December 31, 2023.
