Awfis IPO: Price band for Rs 599 crore public issue announced
economictimes.indiatimes.comOffice sharing startup Awfis Space Solutions on Thursday announced a price band of Rs 364 to Rs 383 per share for its initial public offering (IPO), which will be launched on May 22. The total size of the offering will be Rs 576 to Rs 599 crore.
At the upper end of the price band, this values the company at Rs 2,659 crore (or around $318 million at current exchange rates). Awfis last raised funds in 2022 at a valuation of $110 million.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitBids can be made for a maximum of 39 equity shares and in multiples of 55 shares thereafter.
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The Delhi-based firm’s shares will list on the stock exchanges on May 30.
Through the IPO, the company aims to raise Rs 128 crore in fresh capital, while the offer for sale (OFS) component will have 12.3 million shares on sale by investors Peak XV Partners and private equity firm ChrysCapital. Peak XV Partners is a promoter entity of the company.
Awfis will also conduct a pre-IPO round with anchor investors, bidding for which will happen on May 21.
As per the company, 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.
The company announced Wednesday that it was reducing the size of its
