Awfis Space Solutions’ IPO to open on May 22, price band fixed at Rs 364-383

May 16, 2024

NEW DELHI: Awfis Space Solutions, a flexible workspace solutions company, has proposed to open its initial public offering (IPO) of equity shares on May 22, 2024. The anchor investor bidding date is on May 21, 2024. Offer’s closing date will be on May 27, 2024.

The price band of the offer has been fixed from Rs 364 per equity share to Rs 383 per equity share. Bids can be made for a minimum of 39 equity shares and multiples of 39 equity shares thereafter.

The offer comprises a fresh issue of up to Rs 128 crore and an offer for sale of up to 12,295,699 equity shares amounting to Rs 490.72 crore. At the upper end of the price band, the company is raising a total of Rs 598.72 crore.

Promoter Peak XV Partners Investments V (formerly known as SCI Investments) and shareholders Bisque and Link Investment Trust are participating in the OFS.

The company proposes to utilize the net proceeds towards funding capital expenditure towards establishment of new centers, funding the company’s working capital requirements and general corporate purposes.

About 75% of the offering is reserved for qualified institutional bidders (QIBs), while 15% is reserved for non-institutional investors and the remaining 10% for retail investors.

ICICI Securities, Axis Capital, IIFL Securities and Emkay Global Financial Services are the book running lead managers to the offer.

  • Published On May 16, 2024 at 03:00 PM IST

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