Awfis Space Solutions IPO Fully Subscribed on Opening Day, Surpassing Expectations

Mumbai: The initial public offering (IPO) of Awfis Space Solutions, a leading office-sharing company, garnered substantial investor interest on its first day, with bids exceeding double the number of shares on offer. According to data from BSE, the public issue attracted bids for over 17.4 million shares compared to the 8.62 million shares available.

Strong Investor Demand

The category reserved for retail investors saw the highest demand, being oversubscribed by 6.02 times. Non-institutional investors followed with a subscription rate of 2.76 times. However, the qualified institutional buyers category received bids for only 30% of the shares on offer.

IPO Structure and Pricing

The IPO includes a fresh share sale worth ₹128 crore and an offer-for-sale (OFS) of up to 12.2 million shares. The offering, which closes on May 24, has a price band set between ₹364 and ₹383 per share. Investors can bid for 39 shares in one lot. At the upper end of the price band, Awfis aims to raise approximately ₹599 crore, giving the company a valuation of ₹2,659 crore.

Promising Outlook

The enthusiastic response to Awfis Space Solutions' IPO highlights strong market confidence in the company's growth potential and the expanding co-working space sector. With the IPO fully subscribed on its first day, Awfis is well-positioned to capitalize on the increasing demand for flexible office solutions.