Awfis Space Solutions IPO opens Wednesday. What GMP signals ahead of issue launch?
IPO) of Awfis Space Solutions will open for subscription on May 22 and will close on May 24. Ahead of the issue opening, the company's shares are trading with a premium of Rs 165 in the unlisted market.
The anchor book will open for institutional investors later today. The firm is anticipated to list on stock exchanges on May 30.
The company has fixed a price band of Rs 364-383 per share, where investors can bid for 39 shares in one lot.
The total size of the IPO will be around Rs 599 crore at the upper end and at this price, the company is valued at Rs 2,659 crore.
The IPO of Awfis Space Solutions includes a fresh share sale of Rs 128 crore and an offer-for-sale (OFS) of up to 1,22,95,699 equity shares amounting to Rs 490.72 crore. Promoter Peak XV Partners V and other shareholders Bisque Ltd and Link Investment Trust are participating in the OFS.
Peak XV Partners will sell up to 6.6 million shares, while Bisque, a unit of ChrysCapital, will sell 5.6 million shares. Real estate investment trust, Link Investment Trust, will sell 85,201 shares.
About 75% in the IPO is reserved for qualified institutional bidders (QIBs), while 15% is reserved for non-institutional investors and the remaining 10% for retail investors.
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 is the largest flexible workspace solutions company in India as on December 2023, based on total
