Awfis Space IPO subscription status: According to BSE data, the initial public offering of co-working space provider Awfis Space Solutions received 108.17 subscriptions on the last day of bidding today (Monday, May 27) at 17:06 IST.
According to BSE data released today, bids have been received for 93,34,33,605 of the 86,29,670 shares offered in the Awfis Space Solutions IPO, which began subscription on Wednesday, May 22.
Retail investors subscribed 53.22 times, while non-institutional investors subscribed 129.28 times. The component for qualified institutional buyers (QIBs) has received 116.95 times the subscription. The employee portion has been scheduled 24.67 times.
According to Prashanth Tapse, Research Analyst and Senior Vice President of Research at Mehta Equities, the Awfis Space Solutions IPO had an extremely positive response, despite the fact that the company may continue to have negative cash flows in the future and a convoluted business strategy. Because of its unique entry into the listing industry and early mover advantage, the company may command some listing gains. Consequently, we continue to propose that only risk-taking investors “subscribe” to Awfis Space Solution Ltd.
The Awfis Space IPO subscription status increased 11.41 times on Friday, the second day of bidding. On the first day of bidding, the subscription status for Awfis Space SolutionsIPO was 4.28.
Despite the fact that it was a bank holiday and SEBI was closed on Thursday, May 23 for Buddh Purnima, the Awfis Space Solutions IPO drew a large number of retail applicants who submitted their applications online using Google Pay, Upstox, and Zerodha. Awfis Space Solutions’ IPO subscription status was 4.28 times, according to BSE data.
Employees bidding in the employee reserve part can receive a discount of ₹36 per equity share. The employee reservation portion has a maximum equity share value of ₹2 crore.
Awfis Space Solutions Ltd offers a variety of flexible workspace choices for start-ups, small and medium-sized businesses, large organizations, and worldwide corporations, ranging from individual flexible desk requirements to bespoke office spaces.
The company stated that since implementing the MA model, it thinks that no other listed enterprises in India or elsewhere have a business model and size equal to its own. However, parallels have been noted with unlisted companies such as Tablespace, Cowrks, We Work, and Smartworks.
Awfis Space Solutions IPO details
The Awfis Space Solutions IPO includes a fresh issue of ₹128 crore and an offer-for-sale (OFS) of up to 12,295,699 equity shares of a face value of ₹10 each by the promoter selling shareholder, Peak XV Partners Investments V (formerly known as SCI Investments V), offloading up to 6,615,586 equity shares; other selling shareholders, Bisque Ltd, intending to sell up to 5,594,912 equity shares; and Link Investment Trust, likely to sell up to 85,201 equity shares. Awfis Space Solutions’ IPO is worth ₹599 crore.
The business aims to use the net proceeds to meet the following objectives: capital expenditure for the creation of additional centers (42.03 crore); working capital requirements (54.37%); and general corporate.
The book running lead managers for the Awfis Space Solutions IPO are ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd, and Emkay Global Financial Services Ltd, while the registrar is Bigshare Services Pvt Ltd.
Awfis Space IPO GMP today
Awfis Space Solutions’ IPO GMP today is +118. Awfis Space Solutions’ share price was selling at a premium of ₹118 in the gray market, according to investorgain.com.
The estimated listing price for the Awfis Space IPO is ₹501 per share, 30.81% more than the IPO price of ₹383. This is based on the top end of the pricing band and the current grey market premium.
Grey market activity during the preceding 13 sessions suggests that the IPO GMP is rising, and a strong listing is expected. Investorgain.com reports that the GMP ranges from ₹0 to ₹165.
