New Delhi:
The IPO of Awfis Space Solutions Limited, a company specializing in office space solutions, is set to open on May 22 (Wednesday), with a total value of Rs 599 crore.
Subscription and Pricing
Investors can subscribe to the IPO from today until May 24. The price band for the IPO has been set at Rs 364-383 per share.
Notably, the company’s shares are currently trading in the gray market with a premium of Rs 165.
Funding Allocation and Company Overview
The IPO comprises two types of shares:
new shares worth Rs 128 crore issued by the company and shares worth Rs 490.72 crore sold by existing shareholders through Offer for Sale (OFS).
Company Profile
Awfis Space Solutions offers flexible workspace solutions across various locations in India.
Catering to diverse needs, from individual desks to larger office spaces for teams, the company serves both small startups and multinational corporations.
Growth Potential in the Office Space Industry
The office space industry has witnessed significant growth over the past two decades.
From 46 million square feet before 2003, it has surged to 832 million square feet by December 2023.
Allocation of Shares and Utilization of Funds
In the IPO, 75% of shares are reserved for institutional bidders,
15% for non-institutional investors, and 10% for retail investors.
Utilization of Funds
Awfis Space Solutions intends to utilize the proceeds from the IPO to expand its office network and bolster its business operations,
in addition to meeting day-to-day expenses.
With the allotment scheduled for May 28 and listing on the stock exchange expected by May 30,
investors keen on the share market or IPOs might find this news particularly relevant.
