Awfis Space Solutions IPO sails through on first day. Check GMP and other details
IPO) of Awfis Space Solutions sailed through on the first day of the bidding process on Wednesday as retail investors and NIIs lapped up the offer with both hands.
The category reserved for retail investors was booked the most at 3.86 times, followed by non-institutional investors at 1.06 times. There were no bids yet in the QIB category.
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 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.
Also Read: Awfis Space Solutions IPO opens for subscription. Should you bid?
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 company is going to list at an EV/EBITDA of 11.25x with a market cap of Rs 2658 crore.
