Awfis Space Solutions IPO price band fixed at Rs 364-383; offer to open on May 22
initial public offering (IPO) of office sharing startup Awfis Space Solutions is set to open for subscription on May 22. The company has fixed a price band of Rs 364-383 apiece for the upcoming share sale.
The subscription for the issue will conclude on May 27, with the anchor book opening on May 21. The firm is anticipated to list on stock exchanges on May 30.
The total size of the offering will be between Rs 576 and Rs 599 crore. At the upper end of the price band, this values the company at Rs 2,659 crore. Awfis last raised funds in 2022 at a valuation of $110 million.
Also Read | Energy Mission Machineries debuts at 165% premium on NSE SME platform
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. At the upper end of the price band, the company is raising a total of Rs 598.72 crore.
Promoter Peak XV Partners V and other shareholders Bisque Ltd and Link Investment Trust are participating in the OFS.
The company announced Wednesday that it was reducing the size of its fresh offering while increasing the OFS component. It earlier planned a fresh issue of Rs 160 crore and its investors were looking to sell 10 million shares.
As per the revised plan, Peak XV Partners will now 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.
As per the company, 75% of the offering is
