Awfis Space Solutions IPO

Awfis Space Solutions IPO Dates: The public issue of coworking space company Awfis Space Solutions is going to open on May 22. For this, the price band has been fixed at Rs 364-383 per share. The lot size for bidding is 39 shares.

The company wants to raise Rs 598.93 crore. This IPO will open for anchor investors on May 21.

After the closure of the issue on May 27, the listing of shares can happen on BSE and NSE on May 30. The company was started in December 2014.

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited and Emkay Global Financial Services Limited are the book running lead managers for the IPO.

BigShare Services Private Limited is the registrar to the issue. Awfis Space Solutions offers diverse workspace solutions covering individual desk needs, customized offices for various entities including startups, SMEs and large companies.

33 lakh new shares will be issued

33 lakh new shares worth Rs 128 crore will be issued in Awfis Space Solutions IPO. There will be an offer for sale of 1.23 crore shares worth Rs 470.93 crore.

The promoter of the company is Amit Ramani. Ramani holds 18.19 percent stake in the company on fully diluted basis. Veteran venture capital firm Peak

According to investorgain.com, even before the opening of Awfis Space Solutions IPO, the company's shares are trading in the gray market at a premium of Rs 80 or 20.89 percent from the upper price band of Rs 383.

The gray market is an unauthorized market where shares of a company trade until its listing on the stock market.

Reserve portion of IPO

In Awfis Space Solutions IPO, 75 percent shares are reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors.

The company has reserved shares worth up to Rs 2 crore for its employees. Awfis Space Solutions' revenue for the period April-December 2023 stood at Rs 633.69 crore. Whereas net profit was recorded at Rs 18.94 crore.