The retail segment has got 21.11 subscriptions, and the non-institutional investors quota has obtained 20.99 subscriptions. The portion of qualified institutional buyers has received 3.39 times as many subscriptions. The employee portion has been booked 10.48 times.
Also Read: Awfis Space Solutions IPO Day 2: Check latest GMP, subscription status. Should you apply?
On Thursday, May 23, a large number of retail applicants applied online through Google Pay, Upstox, and Zerodha in response to the Awfis Space Solutions IPO. According to BSE data, Awfis Space Solutions’ IPO subscription status was 4.28 times.
On account of Buddh Purnima, Thursday, May 23, was a bank holiday, and SEBI was closed as well. While offers were being taken, bank bids were absent; as a result, all of those bids were aggregated on Friday.Therefore, it is formally Day 2 of the Awfis Space IPO on Friday, May 24.
Awfis Space Solutions IPO subscription status was 4.28 times on the first day of bidding.
Indian workspace solution company Awfis Space Solutions Ltd was founded in December 2014. Serving the requirements of individuals, start-ups, SMEs, and major enterprises, the organisation provides a broad range of flexible workspace options.
Together with customised office spaces, mobility solutions, and flexible workplaces, co-working is the company’s main offering. Along with these auxiliary services, Awfis Space Solutions offers infrastructure services, food and drink, event hosting, and IT support.
According to Arun Kejriwal, founder of Kejriwal Research and Investment Services, part of the subscription has been high because Go Digit, which was not having much of a premium, did well on the listing. Because people have made money there, they feel confident about applying for this, and here, the grey market is much more active compared to Go Digit.
The company has been witnessing growth, but the issue of break-even is yet to happen. Therefore, it is likely that the company will reach break-even in this financial year, as that is the expectation. It is a competitive business, and the only way to make money is to continue to leverage.
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Let’s take a look at Awfis Space IPO’s grey market premium trend today.
Awfis Space IPO GMP today
Awfis Space Solutions IPO GMP today is +108. This indicates Awfis Space Solutions share price were trading at a premium of ₹108 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Awfis Space Solutions share price was indicated at ₹491 apiece, which is 28.2% higher than the IPO price of ₹383.
Grey market activity over the previous 11 sessions indicates that the IPO GMP is moving upward and that a robust listing is anticipated. According to researchers at investorgain.com, the lowest GMP is ₹0 and the maximum GMP is ₹165.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Awfis Space IPO details
Awfis Space Solutions IPO issue size comprises of a fresh issue of ₹128 crore and an offer-for-sale (OFS) of up to 12,295,699 equity shares of a face value of ₹10 each by the promoter selling shareholder, Peak XV Partners Investments V (formerly known as SCI Investments V), offloading up to 6,615,586 equity shares; other selling shareholders, Bisque Ltd, who intends to sell up to 5,594,912 equity shares; and Link Investment Trust, who is likely to sell up to 85,201 equity shares, as per the RHP. Awfis Space Solutions IPO size is worth ₹599 crore.
The company intends to use the net proceeds to fund the following objectives: capital expenditure for the establishment of new centres (42.03 crore); working capital requirements (54.37 crore); and general corporate purposes.
The book running lead managers for the Awfis Space Solutions IPO are ICICI Securities Limited, Axis Capital Limited, Iifl Securities Ltd, and Emkay Global Financial Services Ltd, while the registrar is Bigshare Services Pvt Ltd.
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Published: 25 May 2024, 01:49 PM IST
