Awfis Space Solutions IPO subscription soars to 108.17 times on final day
Awfis Space Solutions' Initial Public Offering (IPO) saw an overwhelming response from investors, closing at an impressive 108.17 times
image for illustrative purpose
Awfis Space Solutions' Initial Public Offering (IPO) saw an overwhelming response from investors, closing at an impressive 108.17 times subscription on May 27, the final day of bidding. The issue, priced between Rs 364-383 per share, garnered bids for 93.34 crore shares against the 86.29 lakh shares on offer.
The IPO, with a total valuation of Rs 599 crore, includes a fresh share issuance worth Rs 128 crore and an offer-for-sale (OFS) of 1,22,95,699 equity shares by existing shareholders.
Investor enthusiasm was notably high among non-institutional investors (NIIs), who subscribed to the reserved portion 129.28 times. Retail investors also showed strong interest, with a subscription rate of 53.23 times. Qualified institutional buyers (QIBs) subscribed 19.08 times their reserved portion, reflecting significant demand, while the employee segment was oversubscribed 24.67 times.
Institutional investors made a significant contribution through the anchor book, investing Rs 268.6 crore on May 21. A total of 70,13,483 equity shares were allocated at Rs 383 per share. Prominent participants included Ashoka Whiteoak ICAV, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Axis Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Quant Mutual Fund, Invesco India, Motilal Oswal MF, Edelweiss, and Bandhan Mutual Fund.
Awfis Space Solutions, established in 2014, specializes in providing flexible workspace solutions across India, catering to startups, SMEs, and large corporates. Beyond workspace provisions, the company offers ancillary services such as catering, IT assistance, and infrastructure support.
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