Awfis Space Solutions IPO: Issue subscribed over 32X so far on last day, NII portion booked 76X
Awfis Space Solutions is receiving a strong response from investors, with an overall subscription of 32.81 times so far on the fourth and final day of the bidding process.
By 12:51 PM, the issue had attracted bids for 28,31,82,588 shares, or 32.81 times the issue size of 86,29,670 shares. The retail portion of the issue was subscribed 36.9 times, while the non-institutional category saw a subscription rate of 75.93 times. The allocation for qualified institutional bidders was booked 10.08 times.
The IPO includes a fresh share sale of Rs 128 crore and an offer-for-sale (OFS) of up to 1.22 crore shares. Promoter Peak XV Partners V and other shareholders Bisque Ltd and Link Investment Trust are participating in the OFS.
Ahead of the issue launch, Awfis Space Solutions has mobilised over Rs 268 crore from anchor investors. Marquee names that subscribed to the IPO include Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund (MF), and ICICI Prudential MF among others.
The company said it plans to utilise the net proceeds from the fresh issue of shares for expansion and establishing new centres, working capital requirements, and general corporate purposes.
Awfis Space Solutions IPO review
Most analysts assigned a subscribe rating to this IPO as the company is a leader in a large and growing marketplace. It has diverse space sourcing and demand strategies.
«The issue is available at reasonable valuations on an absolute basis. Considering the FY24 annualized EBITDA of 2,377 million on a post-issue basis, the
