Awfis Space Solutions IPO Over-Subscribed: 4.27 Times on Day 2

New Delhi, May 23 (PTI) The initial public offer of co-working space operator Awfis Space Solutions received 4.27 times subscription on the second day of bidding on Thursday.

The Rs 599 crore initial share sale received bids for 3,68,85,732 shares against 86,29,670 shares on offer, as per NSE data.

The portion for Retail Individual Investors (RIIs) got subscribed 12.25 times, while the category for non-institutional investors fetched 6.81 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 32 per cent subscription.

The Initial Public Offer (IPO) has a fresh issue of up to Rs 128 crore and an offer for sale of up to 1,22,95,699 equity shares.

The price range for the offer is fixed at Rs 364-383 per share.

The IPO of Awfis Space Solutions was fully subscribed on the first day of bidding on Wednesday.

Awfis Space Solutions Ltd on Tuesday said it has mopped up a little over Rs 268 crore from anchor investors.

Promoter Peak XV Partners Investments V (formerly known as SCI Investments) as well as shareholders Bisque Ltd and Link Investment Trust are offloading shares through the OFS.

Peak XV holds a 22.86 per cent stake in Awfis, while Bisque and Link Investment Trust own 23.47 per cent and 0.36 per cent stake, respectively, in the company.

Proceeds from the fresh issue will be used in funding capital expenditure towards setting up new centres, supporting working capital requirements, and general corporate purposes.

Awfis provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for corporates.

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