Awfis Space Solutions Announces IPO Opening with Positive Market Sentiments

Workspace solutions provider Awfis Space Solutions is set to open its initial public offering (IPO) tomorrow, signaling positive market sentiments for the company. The IPO will include a fresh issue of ₹128 crore along with an offer-for-sale (OFS) of up to 12,295,699 equity shares, comprising stakeholders such as Peak XV Partners Investments V, Bisque Ltd, and Link Investment Trust.

Awfis Space Solutions IPO stands at a total of ₹599 crore, with subscription dates starting from May 22 until May 27. The offer will provide investors the opportunity to bid for a minimum of 39 equity shares per lot, with a price range set between ₹364 to ₹383 per share. The book-building process will allocate 75% of the net offer to qualified institutional buyers (QIBs), 15% to non-institutional buyers, and 10% to retail investors.

Employees participating in the IPO will receive a discounted price per equity share. Dedicated book-running managers such as ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd are overseeing the IPO process. The company has outlined plans to utilize the proceeds from the IPO to support capital expenditures, new center setups, and other corporate expenses.

Awfis Space Solutions caters to a wide spectrum of flexible workspace solutions, accommodating diverse needs from individual desk space to personalized office setups for startups, small, medium, large enterprises, and multinational corporations. With the IPO set to commence, market experts are predicting a substantial listing gain driven by the company’s growth prospects and market potential.