On BSE, the company’s share price opened at INR 432.25 per share, 12.8% higher than the issue price
Awfis’ IPO received an overwhelming response on the final day for bidding, with the issue getting oversubscribed 108.56X
The company’s IPO comprised a fresh issue of shares worth INR 128 Cr and an offer for sale (OFS) component of up to 1.23 Cr shares
Coworking space provider Awfis
made a strong market debut on Thursday (May 30), with its shares listing at a substantial premium of 12.8% on the Bombay Stock Exchange (BSE).
On BSE, the company’s share price opened at INR 432.25 per share, 12.8% higher than the issue price of INR 383. Similarly on the NSE, the startup’s shares opened at INR 435 apiece, 13.5 % higher than the issue price.
Awfis’s IPO comprised a fresh issue of shares worth INR 128 Cr and an offer for sale (OFS) component of up to 1.23 Cr shares. Peak XV Partners and Bisque Limited are among the investors selling stake via the OFS.
On Monday (May 27) Awfis’ IPO received an overwhelming response on the final day for bidding, with the issue getting oversubscribed 108.56X.
As per the BSE data, the IPO received bids for 93.68 Cr shares as against the 86.29 Lakh shares on offer.
Qualified institutional buyers (QIBs) placed bids for 54.68 Cr shares as against 46.75 Lakh shares reserved for them, resulting in an oversubscription of 116X.
Non-institutional investors (NIIs) closely trailed QIBs in terms of bids, bidding for 30.34 Cr shares compared to the 23.27 Lakh shares reserved for them, resulting in an oversubscription of 129.8X the reserved portion.
Meanwhile, the portion reserved for retail individual investors (RIIs) was oversubscribed 54.58X. They placed bids for 8.5 Cr shares against 15.58 Lakh shares on offer.
Employee shares saw a healthy increase in subscriptions on the final day, with employees bidding for 14.52 Lakh shares compared to the 57,636 shares reserved for them, resulting in an oversubscription of 25.2X.
Founded in 2015 by Amit Ramani, Awfis has evolved from just being a coworking network to a tech-enabled workspace solutions platform, catering to freelancers, startups, SMEs, large corporates, and MNCs.
Awfis posted a net loss of INR 18.9 Cr in the first three quarters of FY24 on an operating revenue of INR 616.5 Cr.
