Awfis Space Solutions share price made a positive debut on the bourses today. On NSE, Awfis Space Solutions share price opened at ₹435 per share, 13.58% higher than the issue price of ₹383. On BSE, Awfis Space share price today opened at ₹432.25 apiece, up 12.86% than the issue price.
Market experts anticipated Awfis Space Solutions share price to open in the range of ₹500 to ₹510 per share.
As of Monday, May 27, the last day of bidding, the initial public offering of co-working space provider Awfis Space Solutions has received 108.56 subscriptions, according to BSE data. The retail investor part was subscribed to 54.58 times, while the non-institutional investor quota was subscribed to 129.81 times. There were 116.95 subscriptions to the section allocated for qualified institutional buyers (QIBs). The employee portion has been booked 25.20 times.
Awfis Space Solutions IPO raised little over ₹268 crore from anchor investors.
15% of the net offer was set aside for non-institutional investors, 10% was allocated for retail investors, and 75% was available to QIBs via the book building process.
For start-ups, small and medium-sized businesses, large organizations, and multinational corporations, Awfis Space Solutions Ltd. offers a broad range of flexible workspace choices, from individual flexible desk requirements to custom office spaces.
According to the firm, no listed businesses in India or anywhere else have a business model and scale like to its own since the MA model has been implemented. Nonetheless, comparisons have been made to privately held companies such as Tablespace, Cowrks, We Work, and Smartworks.
Awfis Space Solutions IPO issue size comprises of 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, who intends to sell up to 5,594,912 equity shares; and Link Investment Trust, who is likely to sell up to 85,201 equity shares, as per the RHP. Awfis Space Solutions IPO size is worth ₹599 crore.
The company intends to use the net proceeds to fund the following objectives: capital expenditure for the establishment of new centres (42.03 crore); working capital requirements (54.37 crore); and general corporate purposes.
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 Solutions IPO GMP today is +84 . This indicates Awfis Space Solutions share price were trading at a premium of ₹84 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the Awfis Space IPO expected listing price was indicated at ₹467 apiece, which is 21.93% higher than the IPO price of ₹383.
Grey market activity over the previous 16 sessions indicates that the IPO GMP is moving upward and that a robust listing is anticipated. According to researchers at investorgain.com, the lowest GMP is ₹0 and the maximum GMP is ₹165.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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